Retail news that keeps industry pros in the know
Retail Brew delivers the latest retail industry news and insights surrounding marketing, DTC, and e-commerce to keep leaders and decision-makers up to date.
Two companies are celebrating their anniversaries this week, and they’re posting some pretty impressive numbers. 7-Eleven is celebrating its 97th anniversary with its annual Slurpee Day promotion, and Ace Hardware is celebrating a sales event honoring its 100th anniversary.
Here’s what else is going on in retail this week:
In sales events: Amazon’s Prime Day is next week on July 16–17, but some of the e-commerce giant’s biggest rivals are beating it to the punch this week. Target Circle Week kicked off on Sunday and is running until Saturday, with deals on both everyday items and back-to-school essentials for members of its free-to-join Circle program. It’s also offering a 50% discount on its new paid subscription program. Walmart, meanwhile, is holding its “largest deals event ever” from Monday to Thursday, with discounts on thousands of items from categories such as toys, electronics, and back-to-school.
In lobbying: The National Retail Federation is hosting a fly-in lobby day for members to support the passage of the Food Traceability Enhancement Act in Congress. The bill would delay the implementation of the FDA’s new Food Traceability Rule, which establishes recordkeeping requirements for food producers that are designed to more rapidly identify and remove contaminated foods from the market. The Food Industry Association says the rule is “overly complex and must be fixed,” while food safety advocates are urging Congress to vote against any delays or changes to the rule.
In events: On Thursday, Klarna is hosting a webinar read-through of its report, “Rep Her: Revealing the Unmet Demand for Women’s Sports Merchandise.” The financial services company estimates women’s athletic gear is a $4 billion market with significant unmet demand. The report will also look at gender-based imbalances in sports fan communities, and highlight Klarna’s own efforts to make sports merchandise available to women through its partnership with media and commerce company Togethxr.
In earnings: Aritzia will release its Q1 financial results on Thursday. The “everyday luxury” apparel company had a strong Q4, with revenue rising 7% YoY and a forecast projecting more growth in fiscal 2025, including 20%–25% square footage growth.