This week marks the unofficial end of summer, and the beginning of preparations for the holiday shopping season, which will come fast…and furiously. We won’t be in your inbox over the Labor Day weekend, so here’s some of what’s going on until then.
Fire up the BBQ: We’re a week out from the actual holiday, but Labor Day sales are in full effect across the board, as retailers attempt to shed their summer inventory in preparation for the rest of the year. Much of that inventory is in the furniture space, as Retail Brew has reported; brands have struggled to sell that merchandise as consumers spend on travel.
- Companies including Amazon, West Elm, Wayfair, Pottery Barn, and Target are offering deals and discounts on home furnishings; in its Q2 earnings report, Target reported declining sales in the home category.
Fresh faces: Walmart will make a number of leadership changes effective Friday, including promoting Kieran Shanahan to executive vice president and chief operating officer. Shanahan previously served as regional CEO of Walmart International and EVP of Sam’s Club.
- Walmart COO Chris Nicholas has been promoted to president and CEO of Sam’s Club. He previously worked on customer service and supply chain improvements as Walmart's US CFO.
In earnings: Earnings over the next two weeks include Best Buy (Tuesday), Chewy (Wednesday), Lululemon and Dollar General (Thursday), American Eagle (Sept. 6), Designer Brands (Sept. 7), and Kroger and Rent the Runway on Sept. 8.
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