We’re already (almost) in August, which means summer is winding down. And that means the Q2 earnings season is upon us. We’ll get to that later in the week, but here's a heads up on retail happenings to start you off.
In new drops: On Wednesday, Adidas will shed more Yeezy inventory as part of a phased release that started in May. The sportswear giant severed ties with Ye (formerly Kanye West) last October after he made numerous antisemitic remarks, so Adidas is again making donations to groups including the Anti-Defamation League and the Philonise & Keeta Floyd Institute for Social Change.
- There’s a lot of demand for the unsold shoes. The Financial Times reported last week that Adidas sold 4 million pairs of Yeezy shoes worth $565 million in May.
In artificial intelligence: AI is taking over retail, so NRF is tackling some of the most pressing issues during a webinar today, including the evolving “legal and regulatory landscape” as well as intellectual property and privacy concerns.
- NRF and representatives from law firm Hogan Lovells will discuss how businesses can address the AI challenges the industry faces.
In openings: Goodwill is expanding its reach down South with a new location in Decatur, Alabama, in a former OfficeMax store. The grand opening will take place on Thursday, with a soft opening on Tuesday.
- The new location will create 20 new jobs for “Alabamians overcoming various challenges,” according to Alabama Goodwill Industries.
- Although there’s already a Goodwill in Decatur, that location just takes donations. The new retail store will also take drive-up donations.
Retail news that keeps industry pros in the know
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