Ulta appoints its first female Chief Human Resources Officer in a week's update.
Another week, another heap of retail news! Here's a lowdown on the latest happenings, keeping you up-to-date on all the buzz.
From investments in legacy players to DTC brands getting acquired, it's clear that the retail world is ever-evolving.
What you may have missed
Dollars flowing into the mattress category
Investments in mattress retail aren't just for digital-native brands anymore; legacy players are also finding favor with investors. Mattress Warehouse, for instance, recently received financing from Wynnchurch Capital, joining the ranks of other brick-and-mortar shops making a comeback.
The situation mirrors Competitor Mattress Firm, which filed for an IPO just weeks ago, having come out of bankruptcy three years ago.
Time for a change at Casper
Casper shareholders have given the nod to the acquisition plan by private equity firm Durational Capital Management. The deal, happening two years after Casper's public market debut, serves as a reminder that mergers and acquisitions remain the go-to exit strategy for DTC brands for over a decade now.
The purchase follows Casper's struggles with profitability since the pandemic, despite the surge in demand for home goods.
A new face at Ulta
With Ulta's Chief of Human Resources, Jeff Childs, retiring in April, Anita Ryan has been appointed as a successor. As the first female Chief Human Resources Officer in the company's history, Ryan brings her 19-year company tenure to the table.
Retail Therapy
Bologna-inspired masks
If there was a list of products that didn't need to exist, Oscar Mayer-branded bologna face masks would surely top it. The off-putting pink shade certainly doesn't help either. Oscar Mayer partnered with Seoul Mamas, a Korean beauty and skincare company, to create these masks. Predictably, they sold out immediately – just like other dubious retail items before them.
Gifting out of your depth? Build-A-Bear's got you covered
When gift-giving gives you trouble, Build-A-Bear's HeartBox is here to help. With a range of pre-curated gift boxes, you can avoid the guesswork that usually comes with gifting. Each box includes a teddy bear you can record a personal message on – talk about thoughtful!
What we're still thinking about
Signet Jewelers' holiday season sales
Signet Jewelers brought in a colossal $2.4 billion during the holiday season this year. A 30% sales increase from 2021, and an impressive 35% compared to 2019, the company looks forward to expanding its share repurchase program and raising its guidance for the year.
Escada America's struggles
Escada America, the U.S. face of the global women's fashion brand, filed for bankruptcy this week. Five unprofitable stores are slated for closure, leaving the retailer with only five operational stores remaining. The retailer attributes its financial struggle to uncertainty brought about by the pandemic and inability to reach lease agreements with landlords.
What we're watching
Coach's leather craftsmanship skills program
Coach's new one-year leather craftsmanship skills and training program, dubbed the Coach (Re)Loved Craftsperson Apprenticeship Program, is accepting applications. The program kick-starts in June and trains participants in the art of transforming pre-loved Coach bags into like-new, restored bags for resale. This initiative represents Coach's commitment to circular fashion and its existing trade-in service called Coach (Re)Loved Exchange.
A looming proxy fight at Kohl's
In the face of spiraling competition, Kohl's faces the heat from activist shareholders, including Macellum Advisors, who have suggested a possible spinoff of Kohl's e-commerce business. Kohl's board's response to the situation will stay under the spotlight in the coming weeks.
- The mattress retail sector is attracting significant investments, not just for digital-native brands, but also for legacy players like Mattress Warehouse, as evidenced by their recent financing from Wynnchurch Capital.
- The retail industry is witnessing a surge in mergers and acquisitions, as demonstrated by the acquisition of Casper by private equity firm Durational Capital Management, two years after Casper's public market debut.
- Ulta Beauty appointed Anita Ryan as their new Chief Human Resources Officer, making her the first female CHRO in the company's history, following the retirement of Jeff Childs in April.
- The bologna-branded face masks by Oscar Mayer, distributed by Seoul Mamas, sold out immediately, mirroring the quick success of other controversial retail items.
- Build-A-Bear's HeartBox offers pre-curated gift boxes, enabling customers to avoid the usual guesswork that comes with holiday gifting.
- Signet Jewelers recorded impressive sales during the holiday season this year, earning a 30% sales increase from 2021 and a 35% increase compared to 2019, while Escada America filed for bankruptcy, citing the pandemic and lease issues as the main reasons for their financial struggles.
