It’s been another week with far more retail news than there is time in the day. Below, we break down some things you may have missed during the week and what we’re still thinking about.
From Easter hats for pets to a sudden shrinking of all the shrink talk, here’s our closeout for the week.
What you may have missed
Home Depot acquires Mingledorff’s
The latest in a string of acquisitions, The Home Depot subsidiary SRS Distribution this week announced it would purchase HVAC distributor Mingledorff’s for an undisclosed amount. Subject to customary closing conditions, the deal is expected to close in Q2. The company’s senior leadership team will remain in place under SRS.
Mingledorff’s operates in the southeastern U.S. and serves residential and commercial customers through 42 locations. The Home Depot in its press release touted the company’s business as “highly complementary” to SRS and noted that HVAC distribution has a $100 billion total addressable market.
"The momentum we've seen in the SRS business is a testament to its strong customer value proposition and execution," Home Depot CEO Ted Decker said in a statement. "SRS is a growth engine for The Home Depot, and we continue to drive significant synergies that enable us to bring more innovation and value to our Pro customers."
The Home Depot bought products supplier SRS Distribution in 2024, which has since acquired drywall specialist GMS.
Regional off-pricer Gabe’s in search of permanent CEO, CFO
Discount retailer Gabe’s, which avoided bankruptcy when it restructured last fall, is searching for a permanent chief executive officer and chief financial officer. Steven Becker, executive chair of the retailer’s board and interim CEO since Jason Mazzola left in November, said the upheaval in the C-suite is a sign the retailer is moving past its restructuring period.
On Thursday, Gabe’s replaced Dave Bushland, who had been CFO since November, with Brian Cashman from advisory firm BRG. (Bushland had replaced Peter Delahunt in the role.) Cashman is serving only in the interim until the company finds a permanent replacement.
Gabe’s new owners – a consortium of financial firms including Brigade Capital Management, Arbour Lane Capital Management and Anchorage Capital Advisors – set unspecified targets that, if met, could unlock funds to finance its turnaround, Mazzola told Retail Dive in August.
Those are being met, said Becker, who previously was CEO of off-price retailer Tuesday Morning. The company is in the process of closing Old Town Pottery locations – a chain Gabe’s acquired three years ago – or converting them to Gabe’s stores. Next year, the discounter will focus on the potential for expansion, probably in the West, Becker said.
“We're really excited about the prospects for Gabe’s, and we feel really good about the health of the business,” he said by phone Thursday.
Retail therapy
An Easter hat your cat will probably still hate
PetSmart is hosting an in-store Easter egg hunt on April 4, featuring coupons for pet parents, festive photo offerings, treat samples and more, per a Monday press release. The retailer will give the first 50 pet parents an opportunity to snag eggs with a $20 off same-day in-store coupon.
Additionally, PetSmart is selling Easter-themed pet toys and costumes, such as bunny headbands, chick hoodies and a duck raincoat for both dogs and cats.
What we’re still thinking about
$15M
That’s how much Bark estimates it could receive in refunds from IEEPA-instituted tariffs. However, the company notes the timing and ultimate amount of any refunds awarded to the pet company are uncertain, per a Monday press release.
Additionally, the company executed a series of cost cuts in Q4 2026, which it estimates will create $28 million of annualized cost savings. Those moves included headcount reductions, increased use of AI, downsizing the office footprint and more.
What we’re watching
Retailers mum on why shrink is way down
Target, Dollar General and TJX are among the companies reporting meaningful declines in inventory loss, known in industry parlance as “shrink.” At Target and TJX, levels have returned to pre-pandemic lows.
Other retailers that previously made a stink about shrink are not mentioning it at all, loss prevention consultant Brand Elverston told Retail Dive this week. “It’s becoming a nonevent,” he said.
How has this happened? Executives have provided scant details on their success. Elverston is among asset protection experts who believe the industry’s obsession with crime derailed many retailers’ ability to effectively combat inventory loss. Any retailer seeing shrink improve has likely tackled the operational deficiencies that are usually the worst culprits, he and others say.
