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 Barbie offering a Skipper doll who works at Target to retail layoffs right before the holidays, here’s our closeout for the week.
What you may have missed
Rare Beauty expands into body care with new collection
Selena Gomez-founded makeup brand Rare Beauty has expanded its assortment. The brand this week announced a collection of body care products, dubbed “Find Comfort,” which includes an aromatherapy pen, body and hair fragrance mist, hand cream and body lotion.
“Removing the pressure of having the perfect self-care routine; self-comfort looks different for each and every person,” the brand wrote in an Instagram post announcing the new products. “It’s about accepting yourself as you are, loving yourself, and being there for yourself so you can be there for the ones you love.”
The products will launch early on Sephora’s mobile app on Monday and will roll out globally on Dec. 26.
Simon says happy anniversary
Simon, the real estate investment trust, celebrated 30 years as a public company this week.
As of Sept. 30, Indianapolis-based Simon Property Group owned or held an interest in 195 income-producing U.S. properties. The company also owns an 84% non-controlling stake in another U.S.-based REIT, Taubman Realty Group.
In addition, Simon also owns 35 retail-focused properties in Canada, Europe and Asia, and a 22.4% equity stake in a Paris-based real estate company that owns or has an interest in shopping centers in 14 European countries. The company's total market value of its portfolio has risen from $3.5 billion at the time of its initial public offering to over $85 billion today.
"Simon has experienced a very successful journey over the last 30 years, and we see great opportunity in our future as we continue to differentiate our company through our scale and diversity, seeking to grow our business while striving to do what is best for our stakeholders and the communities in which we operate," said David Simon, the company’s CEO, president and chairperson.
Carter’s and Shipt to offer same-day delivery with partnership
Children’s apparel company Carter’s and delivery service Shipt announced an expansion to their partnership on Wednesday, according to a press release. Now items from all Carter’s brands can be ordered from the Shipt Marketplace. Customers can also order from the retailer’s app for same-day delivery of apparel and other family items across the country.
“The new partnership brings convenience and time-saving opportunities to Carter’s customers during the holidays with the speed of delivery through Shipt,” according to the announcement.
Retail Therapy
Dorito’s debuts nacho cheese alcohol
For a mere $65, consumers can get their hands on a delicious mix of nacho cheese and alcoholic spirits thanks to Doritos and Empirical.
The companies have collaborated to create a limited-release bottled spirit that tastes just like Doritos’ famous nacho cheese chips, per a Tuesday press release. The flavoring was created by using real Doritos chips and “retaining their essence” through vacuum distillation. The bottles will be available at select retailers in California and New York, as well as online, starting next month.
"Doritos is all about disrupting culture and bringing our fans unexpected, bold experiences," said Tina Mahal, senior vice president of marketing for Frito-Lay North America. "We're always pushing our fans to try new things, so we figure it's time we disrupt the spirits category by offering our iconic nacho cheese flavor in a bottle."
Target recruits Barbie to work at checkout
Target released an exclusive Barbie set featuring a Skipper doll working at a Target checkout stand.
The $22.99 set features the Skipper doll wearing a red T-shirt with a Target name badge, a Target-branded checkout stand featuring a working conveyor belt and an array of merchandise options.
“Barbie Skipper First Jobs dolls and playsets let kids explore the working world with Barbie doll's teenaged sister,” the product description said. “Kids will love playing out job-related adventures at a fan-favorite store.”
What we’re still thinking about
11%
That’s how much Etsy cut its workforce this week. It amounts to about 225 people, and the company’s restructuring will also see Chief Marketing Officer Ryan Scott and Chief Human Resources Officer Kimaria Seymour depart. CEO Josh Silverman wrote in a note to employees that Etsy’s gross merchandise sales have remained flat since 2021 despite the fact that the marketplace is twice as big as it was in 2019.
8
That’s how many retail CEO exits were announced in January. It was the largest number of announcements in a single month that Retail Dive tracked this year. October saw seven CEO departure announcements and April saw six. Overall, Retail Dive covered 50 CEO exits across the industry, including at Revlon, Stitch Fix and Dollar General. From startup founders to longtime industry veterans and Rihanna, the departing executives left their roles for a variety of reasons, and in one case after just three months.
What we’re watching
Retail layoffs
‘Tis the season to fire staff, apparently. This week saw a number of retail layoff announcements, including 1,100 workers who were let go at Hasbro due to tepid toy sales. Online retailer Zulily laid off over 800 people in three states, amid reports that the company is shutting down. On Wednesday Etsy announced it was letting go of 11% of its workforce due to a challenging macroeconomic environment, according to CEO Josh Silverman.
Retail layoffs spiked 3,225% year over year this January, according to Challenger, Gray & Christmas data. And, according to Retail Dive coverage as of this fall, nearly 50 major retailers announced layoffs in 2023.
