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 Gibson’s new chief commercial officer to mayonnaise-inspired jeans, here’s our closeout for the week.
What you may have missed
Skechers, 3G Capital deal clears regulatory hurdles
Skechers and 3G Capital have received all the necessary regulatory approvals to close out their deal, the companies said in a late August press release. The $9.4 billion acquisition by 3G Capital will see Skechers become a private company.
While both companies must meet customary closing conditions to make things official, the regulatory hurdles are now out of the way and the two expect a closing date of Sept. 12. Skechers shareholders, who can receive $63 per share in cash or $57 per share in cash and one equity unit in Skechers’ new parent company, must make their elections by Friday.
Gibson names a chief commercial officer
Instrument company Gibson named Anne Rohosy as its chief commercial officer. In an expanded role, Rohosy will oversee the company’s commercial strategy, including wholesale, direct to consumer and retail channels, according to a Wednesday company announcement.
In an expanded role, Anne Rohosy will oversee the company’s commercial strategy, including wholesale, direct to consumer and retail channels.
Courtesy of Gibson
Rohosy has been a member of Gibson’s leadership team for four years, serving as its chief human resources and impact officer, among other roles. Rohosy also has experience at Levi Strauss & Co. and Nike.
“Anne’s leadership has been instrumental in shaping Gibson’s transformation over the past several years,” Gibson CEO Cesar Gueikian said in a statement. “Her deep experience in building global brands, leading complex commercial organizations, and driving innovation makes her the right leader to take Gibson’s commercial strategy to the next level.”
Retail therapy
Mayonnaise-themed jeans for football season
Mayonnaise brand Hellmann’s is releasing a denim apparel collection on Monday in honor of the 2025 NFL season kicking off, according to a company release Wednesday.
The Unilever-owned brand is putting its famous creamy off-white color onto a three-piece collection consisting of a hat, jacket and pants.
Hellmann’s denim apparel collection will drop on Monday.
Courtesy of Hellmann’s
“This collection represents the next chapter of Hellmann’s ambition to be synonymous with game day culture —bringing the worlds of food, football, and fashion together in one bold statement,” Jessica Grigoriou, senior vice president of marketing for Unilever North America’s condiments business, said in a statement. “The rich & creamy texture of our mayonnaise and the fashionable texture of a creamy denim blend created the perfect opportunity to launch a first-of-its-kind denim wardrobe, designed for tastemakers and tailgaters.”
What we’re still thinking about
2.3%
That’s how much Petco’s net sales decreased in the second quarter, reaching $1.5 billion. The pet retailer’s comparable sales decreased 1.4% year over year.
Petco’s top-line results “primarily reflect the decisions we are making to move away from unprofitable sales, shifting instead to a promotional strategy, better retail execution, and enhanced customer experience,” CFO Sabrina Simmons said on a call with analysts last week.
The retailer’s operating income increased by over $40 million, reaching $43 million. The company also swung to a net profit of $14 million from a net loss of $25 million a year ago.
“The first half of this year established a solid foundation for our transformation as we continued to strengthen our economic model and improve retail operating fundamentals,” CEO Joel Anderson said in a statement. “As we look ahead to the remainder of this year, we will continue to execute on our objectives while also leaning into select targeted investments that we believe will help set the stage for a return to sustainable profitable growth.”
Petco maintained its net sales outlook for the full year, expecting it to be down low-single digits from last year.
What we’re watching
Gap Inc. CEO says stores are improving but still need work
At the Goldman Sachs Global Retailing Conference Thursday, Gap Inc. CEO Richard Dickson described an apparel giant newly equipped to stoke momentum across its portfolio, including tests, refreshes and remodels of stores.
The fleet — in North America, the company runs 1,240 Old Navy stores, 453 Gap stores, 371 Banana Republic stores and 255 Athleta stores — is now “at a really interesting stage of reimagining our store experience and starting to invest in that human connection where, we believe, obviously, there’s really important continued growth,” Dickson said.
Following the apparel retailer’s Q2 report, GlobalData Managing Director Neil Saunders, who has been a harsh critic of merchandising standards at Old Navy and Gap, said improvements have been noticeable, though there “is much further to go.”
Dickson acknowledged this Thursday. “That dialog with consumers is incredibly important — and the connection to our stores, transparently, we have work to do,” he said.