It’s been one other week with much more retail information than there’s time within the day. Under, we break down some issues you’ll have missed throughout the week and what we’re nonetheless enthusiastic about.
From PetSmart’s bid to entertain canine and cats this vacation season to Digital Manufacturers Group’s reverse inventory cut up, right here’s our closeout for the week.
What you’ll have missed
Adidas investigation for tax, customs compliance prompts HQ search
A search was performed this week at Adidas’ headquarters in Herzogenaurach, Germany, and “different places” as a part of an investigation into the corporate, a spokesperson confirmed to Retail Dive. The investigation is said to the sportswear big’s compliance with import customs and tax rules in Germany.
“Adidas is cooperating with the authorities and offering the mandatory paperwork and data,” the spokesperson mentioned. “Compliance with authorized necessities is of utmost precedence for adidas. The corporate has been involved with the related customs authorities for a number of years relating to the matter of the investigation, which have been well-known already.”
The investigation covers the interval from October 2019 to August of this yr and Adidas mentioned it doesn’t anticipate “any important monetary affect” from the investigation.
“Adidas continues to work intently with the customs authorities to additionally make clear points arising from completely different interpretations of German and European regulation,” the spokesperson added.
Puma opens Studio48
Puma on Thursday launched a artistic hub, dubbed Studio48, at its headquarters in Herzogenaurach, Germany. The area encompasses a 3D printing facility, leather-based and textile stitching machines, printing and embroidering setups, a product testing space, a photograph studio and a designer assembly area.
Courtesy of Puma
The model launched Studio48 as an area to create ideas for brand new efficiency and Sportstyle merchandise, alongside marketing campaign concepts. The area is a part of the corporate’s bigger model elevation technique to enhance its sports activities efficiency credibility and create sustainable progress.
“With the brand new Studio48 we’re creating a big instrument to boost the excellence of our designs and elevate the model,” Heiko Desens, Puma’s vp of artistic course and innovation, mentioned in a press release. “Whereas lots of our merchandise are created digitally, Studio48 will likely be an area for a unique type of creativity, the place our designers from completely different departments can brainstorm collectively, change greatest practices, expertise new supplies and contact and really feel the merchandise they wish to make.”
Puma additionally plans to make use of Studio48 as an area to satisfy with exterior companions in addition to host workshops and occasions. The corporate plans to open the same hub in Los Angeles early subsequent yr that’s aimed on the U.S. market.
Amazon Autos debuts with Hyundai partnership
On-line retail big Amazon added automobiles to its already expansive product providing this week.
Customers in 48 U.S. metropolitan areas are actually in a position to full end-to-end automobile purchases — together with trade-ins, financing and scheduling pickup of the car — from their native taking part Hyundai vendor immediately on Amazon.
The web retailer plans so as to add further Hyundai sellers, extra auto manufacturers and expanded leasing and financing choices. This system may also develop to different cities subsequent yr.
“With Amazon Autos, we’re bringing the simplicity and ease prospects anticipate from Amazon to automobile buying, certainly one of their largest purchases, whereas providing sellers a brand new channel to attach with a broad viewers,” Fan Jin, world head of Amazon Autos, mentioned in a press launch. “We’re excited to have Hyundai as our unique launch accomplice and look ahead to welcoming extra manufacturers and increasing our choice to prospects as this system grows.”
Retail remedy
The festive leisure pets need this vacation
The vacation season is a busy interval, crammed with events, buying and different actions. To assist pets really feel extra snug being residence alone, PetSmart has launched a vacation streaming expertise for canine and cats.
Courtesy of PetSmart
“The ‘House for the Pawlidays’ movies assist to ease pet and pet father or mother fear, and finish the vacation pet blues,” PetSmart mentioned in a press launch this week. The movies function canine and cats enjoying with gadgets from the retailer’s 2024 Merry & Vibrant assortment.
“Whereas our pets are included in lots of our vacation celebrations, there are nonetheless instances they must be left at residence – which will be troublesome for each them and their pet dad and mom,” Dr. Misti Could, PetSmart’s director of pet well being and security, mentioned in a press release. “These movies are designed to maintain pets entertained, comforted and out of mischief, making the vacation season extra pleasant for everybody.”
Good day Kitty faucets Bruno Mars in collab
To honor Good day Kitty’s fiftieth anniversary and the opening of Bruno Mars’ vacation Las Vegas residency, father or mother firm Sanrio introduced a slew of collaborations with the Grammy-winning artist throughout merch, foods and drinks, and a meet-and-greet expertise.
Courtesy of Sanrio
Mars’ residency begins Wednesday on the Dolby Dwell venue on the Park MGM on line casino resort. Right here, followers can store from Sanrio’s signature Japanese kawaii type on limited-edition merch like sweatshirts and luggage with Good day Kitty and Bruno Mars graphics.
An unique water bottle and T-shirt will be bought contained in the venue’s Good day Kitty Cafe kiosk. The cafe may also have unique menu gadgets together with shortbread cookies iced with the duo’s graphics and the Mars Mocha — a brown sugar espresso drink in a customized Good day Kitty x Bruno Mars cup sleeve. On Wednesday, followers could have the possibility to satisfy and greet Good day Kitty on the cafe previous to the Bruno Mars live performance.
What we’re nonetheless enthusiastic about
1-for-50
That’s the reverse inventory cut up Digital Manufacturers Group performed this week, in accordance with a submitting with the U.S. Securities and Alternate Fee. The inventory begins buying and selling on a split-adjusted foundation on Friday.
20%
That’s how a lot GameStop’s internet gross sales fell within the third quarter, to $860 million, down from $1.08 billion final yr.
The retailer additionally swung from a internet lack of $3.1 million within the year-ago quarter to a internet earnings of $17.4 million. GameStop mentioned in October it had began a collaboration with Collectors Holdings by means of its Skilled Sports activities Authenticator division. Choose GameStop places now present buying and selling card autograph authentication and grading providers.
Nevertheless, GameStop’s newest enterprise is unlikely to halt the online game retailer’s decline, in accordance with Wedbush analysts, who famous that the buying and selling card collaboration comes after a failed omnichannel technique and the corporate’s withdrawal from NFT buying and selling.
What we’re watching
Will Celebration Metropolis file Chapter 22?
Specialty retailer Celebration Metropolis’s father or mother firm, Celebration Metropolis HoldCo, filed for Chapter 11 firstly of 2023. By the autumn of that yr, the corporate had accomplished its restructuring efforts, which eradicated almost $1 billion in debt, and emerged from chapter.
Since that point, the retailer has undergone numerous strategic initiatives, together with introducing places with a brand new retailer format, partnering with Instacart on same-day supply and chopping costs on 2,000 gadgets. Over the summer season, Celebration Metropolis additionally named turnaround veteran Barry Litwin as CEO.
But, the corporate could also be making ready for a second chapter, in accordance with Bloomberg, which reported this week that the corporate is behind on hire at some places and operating out of money. Celebration Metropolis didn’t reply to Retail Dive’s requests for touch upon the matter.
