News Briefs

Alabama-based Hibbett has new owners.

The athletic-inspired fashion retailer has completed its acquisition by U.K.-based global sportswear giant JD Sports Fashion plc in a transaction valued at approximately $1.1 billion. Hibbett is now part of JD and will no longer be a stand-alone publicly traded company. 

Mike Longo will continue as president and CEO of Hibbett and Jared Briskin will assume the role of COO. The company will maintain its corporate headquarters in Birmingham, Ala.

The acquisition significantly boasts JD Sports' U.S. footprint, giving it a national presence. As of May 4, Hibbett operated 1,169 namesake, City Gear and Sports Additions stores in 36 states nationwide.

[READ MORE: Hibbett partners with Walmart, Salesforce for online delivery]

“Hibbett and City Gear will continue to have significant growth opportunities thanks to our strong vendor relationships with highly coveted brands, best-in-class omni-channel platform and efficient supply chain operations,” said Longo. “In addition, our store footprint is complementary and incremental to the other existing JD locations in North America. Above all, we will continue to provide an outstanding consumer experience in underserved communities by offering a unique and compelling product mix that appeals to our fashion-conscious shoppers.”

JD Sports entered the U.S. market in 2018 with its purchase of The Finish Line. In 2021, it purchased California-based Shoe Palace and, two months later, athletic footwear and apparel streetwear retailer DTLR Villa. The company, which also has a presence in France, Spain and South Korea, had 3,300 stores worldwide as of May 2024.

Michaels is expanding its delivery options through new partnerships with DoorDash and Uber Eats.

In the coming weeks, customers across the United States will be able to shop Michaels’ assortment of arts and crafts supplies and componentry, home decor, party planning essentials and more on both platforms and enjoy same-day delivery from more than 1,200 store locations. In addition to DoorDash and Uber Eats, Michaels will continue to offer same-day delivery through Instacart.

“Convenience, choice, and flexibility are central to a best-in-class omnichannel experience, and it's more important than ever to deliver on that promise to our customers,” said Heather Bennett, executive VP of marketing and e-commerce at Michaels “Our partnerships with DoorDash and Uber Eats enable us to expand our same-day delivery offering, making our assortment available wherever and however customers want to shop while reaching new audiences and adding value for core customers.”

[READ MORE: Michaels turns physical stores into omnichannel supply chain hubs]

The delivery news follows other recent enhancements to Michaels’ customer experience including lowering prices on over 5,000 items, launching birthday parties and expanded class options, and further evolving the MakerPlace platform for both buyers and sellers.

Michaels operates over 1,300 stores in 49 states and Canada.

New tenants are arriving at the Runway Playa Vista mixed-use property on Los Angeles’ westside.

Located north of Los Angeles International Airport and just miles from the ocean, the property consists of more than 220,000 sq. ft. of retail space with anchor tenants like Whole Foods Market and Cinemark Theaters. 

Two tenants have already opened their doors at the property: Dri/kit, a maker of zero proof beverages for celebratory moments, and Black Beauty Collective, a specialty beauty shop featuring brands from Black founders, are the latest to open at the center.

Looking ahead, the property, which recently received a $9.1 million upgrade that included adding an acre of green space, will welcome the following tenants:

• Wild Child Gym, a boutique children’s play space, will open in June.
• Tia, a healthcare home for women, integrating comprehensive primary care, gym, mental health, and wellness, will open in July.
• Boba The Great, Larchmont’s specialty drink maker, is arriving this fall 
• Jack Henry, a men’s grooming and wellness studio, is set to open late June.
• Monarch Athletic Club, a science-backed one-stop health club offering movement, health, and wellness under one membership, is scheduled to open in early 2025.

[READ MORE: Store Expansion News: June update]

“We welcome the new arrivals to Runway and the Playa Vista community,” said Stenn Parton, founder and CEO of Prism Places, the firm that operates the property. “Runway offers the Westside of Los Angeles an experience our guests can’t find in many places today in Los Angeles — convenient, family friendly, and safe. Runway continues to thrive in today’s market, a true testament to the strength of the community of Playa Vista and its ability to maintain this momentum going forward!”

Conn’s is starting liquidation sales at select stores across its operating area amid rumors that it is considering filing for bankruptcy.

The struggling, Texas-based retailer of furniture, mattresses, appliances and consumer electronics retailer is closing 71 stores in 13 states, with the locations to be shuttered listed on its website. Florida will see the largest amount of closings, with 18 stores going dark, followed by Texas, with nine closings. 

Conn's is also closing stores in Alabama (one), Arizona (seven), Colorado (six), Georgia (two), Louisiana (six), Mississippi (two),  North Carolina (four), Oklahoma (four), South Carolina (three), Tennessee (four) and Virginia (five).  For the specific locations, click here. 

The retailer currently operates more than 550 stores across 15 states. Of the total, 378 are dealer-owned as part of its franchise model.  

Last week, Bloomberg reported that Conn’s is shuttering stores as part of a possible Chapter 11 bankruptcy filing, which could occur in the coming weeks.

Conn's has been struggling amid increased competition and amid a general downturn in consumer competition spending on discretionary purchases, including furniture. The company's total consolidated revenue declined 7.8% to $1.2 billion in 2023, with a 9.1% decline in total net sales and a 3.6% reduction in finance charges and other revenues.

 In June, Conn’s  received a delinquency notification from the Nasdaq Stock Exchange, indicating it was not in compliance with Nasdaq Listing Rule 5250 (the Rule) because of the company’s delay in filing its most recent 10-Q report for the quarter ended April 30. 

World Market is slated to open its newest location this week – with more on the way.

The Alameda, Calif.-based specialty retailer will open a 14,500 sq.-ft. store in Cincinnati at the Rookwood Commons & Pavilion shopping center on July 25. The new location will be the fifth World Market location in Ohio, joining the four currently in the Columbus area.

World Market plans continue its expansion throughout the United States with six additional new store openings slated before the end of 2024.

“World Market is excited to be returning to the greater Cincinnati area with the opening of our new store in Norwood,” said Eric Hunter, CEO of World Market. “We believe Rookwood Commons is the perfect location for us to reintroduce our brand to the community. We look forward to growing our customer base here for years to come.”

[READ MORE: Online spending in June grows past inflation]

World Market operates 239 stores in the U.S. featuring a rotation selection of casual home decor and furniture, housewares, gifts, jewelry, decorative accessories, over 500 international wines, and foods and beverages from more than 50 countries.

Wayfair is celebrating Black Friday a few months early. 

The online home furnishings giant will celebrate "Black Friday in July" with four days of sales, including flash deals that drop every 24 hours and a limited quantity of doorbusters at "jaw-dropping prices" across brands such as Blackstone, Cuisinart, GE and Sealy. The event, which includes free shipping sitewide, will kick off on July 26 at midnight ET.  

Customers can shop the sale online or in-person at Wayfair's stores, including its new large-format store in Wilmette, Ill., and at AllModern, Joss & Main and Birch Lane retail stores. The sale will run across Wayfair's brands. Wayfair Professional members will have access to Pro-exclusive deals. 

"We are excited to bring a Black Friday sale to our customers this July, with our best deals since Way Day," said Jon Blotner, chief commercial officer, Wayfair. "This sale provides our customers with tremendous value and selection to outfit their homes and businesses with just what they need to enjoy the rest of summer or prepare for back to school."

Wayfair generated $12.0 billion in net revenue for the year ended December 31, 2023. The company is headquartered in Boston.