- Retailist Roundup
- Posts
- UPS strike averted, Gap taps Mattel exec that revitalized the Barbie franchise for new CEO
UPS strike averted, Gap taps Mattel exec that revitalized the Barbie franchise for new CEO
Check out this week's top headlines in retail and e-commerce.
Amanda Fox-Rouch
July 28, 2023
Welcome to this week’s Retailist Roundup - your premier source for fresh news, career prospects, and insights into e-commerce, retail, and DTC brands, handpicked by our editorial team. We've combed through the clamor to curate the most significant news, innovative trends, and bold forecasts:
In the News: This Week’s Top Headlines
UPS & Teamsters reach a tentative deal, averting strike. Retail industry groups lauded the provisional agreement reached between UPS and the Teamsters, averting a strike that was set to start on August 1. However, there is still a level of uncertainty until union members officially ratify the new contract. [WaPo]
Yeezy drop improves Adidas’ yearly outlook. Adidas updated its 2023 forecast on Monday, citing the "positive impact" of its decision to sell off some Yeezy inventory, according to a company press release. Despite predicting an annual loss for 2023, the anticipated operating loss has been reduced from 700 million euros to 450 million euros. The recent Yeezy drop helped the company clear 100 million euros in inventory, leaving it with 400 million euros of stock that could either be sold or written off. [Adidas]
Amazon concedes to U.K. competition watchdog. On Wednesday, Amazon proposed commitments to the UK's Competition and Markets Authority (CMA), an antitrust watchdog, in response to the group’s concerns over Amazon’s anti-competitive practices. This comes a year after the CMA launched an investigation into Amazon's alleged misuse of its dominant marketplace position. [CNBC]
Gap poaches top Mattel exec. Gap has concluded its year-long CEO search by selecting Richard Dickson, a senior executive from Mattel, known for revitalizing the Barbie franchise. Dickson, currently serving as Mattel's president and chief operating officer, will depart from Mattel on August 3rd and commence his role at Gap on August 22nd. [CNBC]
Authentic Brands Group acquires Rockport. Authentic Brands Group, whose subsidiaries include Reebok, Forever 21, Nautica, and more, announced on Wednesday that it has received bankruptcy court approval to purchase Rockport, a footwear brand that filed for Chapter 11 in June. Authentic Brand Group’s CEO, Jamie Salter, highlighted that Rockport is a valuable addition to their portfolio with potential expansion into apparel, accessories, outerwear, travel, and more. [Retail Dive]
Crocs surpasses $1B in quarterly revenue. Crocs Inc. announced on Thursday that they have achieved a significant milestone, with a consolidated revenue increase of 11.2% to $1.07 billion in the second quarter compared to the same period last year, as per a company press statement. Net income saw a substantial boost of around 32%, reaching $212.4 million. Direct-to-consumer sales rose by 26%, however, wholesale saw a minimal growth of only 0.2%. [Footwear News]
Job Board: This week’s Top Openings in DTC, RetailTech, and more
Want to submit a role to our talent board? Email [email protected].
Upcoming Industry Events and Webinars – mention Retailist at one of these events for 15% off a promotion bundle
Email [email protected] to learn more.
ABOUT RETAILIST
Retailist Magazine is an outlet focused on modern commerce as it relates to digital innovation. The publication examines our culture’s ever-evolving relationship with marketing, commerce and traditional retail. Our goal is to connect our audience to quality content and award programs for retail brands to tell their story of innovation. The publication was launched in Summer 2020 with overwhelming support from thought leaders across the globe.
These experts stand at the helm of their niche in retail and provide readers with real-time, trending insights to ensure you remain on the bleeding edge of commerce innovation. Contributing thought leaders include C-suite executives from Hubspot, Wix, Printful, Global-e, Zapaygo, TradeGala, Birdie, Inurface Media, and more.