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.
Starbucks is taking a cue from burrito champ Chipotle: The coffee giant announced last week that Chipotle CEO Brian Niccol will lead the largest coffee chain in the US from Sept. 9. Niccol will replace Laxman Narasimhan. This leadership reset comes with lots of behind-the-scenes boardroom drama.
In (more) executive moves: Victoria’s Secret recently named Hillary Super CEO for its “next chapter,” as it hopes to return to growth. Super will take over from Martin Waters on Sept. 9. Is this women-focused business on the verge of a turnaround? Investors seem to think so—and for good reason. Super comes with relevant experience: She was most recently the CEO of Rihanna’s lingerie brand, Savage X Fenty, and was also CEO of Anthropologie.
Here’s what else is going on in retail this week:
In earnings: Home improvement retailer Lowe’s is set to report second quarter earnings on Tuesday. Last week, Lowe’s main competitor, Home Depot, reported a cut to its comparable-store sales outlook, as nervous consumers deferred spending, waiting for lower interest rates. Plus, members-only BJ’s Wholesale Club, discount store chain Dollar Tree, and cycling giant Peloton will all report earnings on Thursday.
In events: The National Association of Chain Drug Stores (NACDS), which represents traditional drug stores, supermarkets, and mass merchants with pharmacies, will officially conclude its three-day Total Store Expo on Monday in Boston. At the largest gathering of retailers and suppliers in the health and wellness industry, retail executives will hear today from Anita Patel, VP of pharmacy services development at Walgreens, and Adam Chesler, SVP of strategic initiatives at VillageMD, among others.