The weekly close: Shopify invests $100 million and Jane Fonda promotes H&M's Move line

The weekly close: Shopify invests $100 million and Jane Fonda promotes H&M’s Move line

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It’s been another week with a lot more retail news than there is time in the day. Below, we break down some things you may have missed over the week, and what we’re still thinking about.

From Aldi trying to wed a couple to one of its stores in Tabasco launching summer products, here’s our closeout of the week.

What you may have missed

Bed Bath & Beyond would have considered private loans

The management of Bed Bath & Beyond would have consulted lenders about an asset-based loan, according to a report published this week by Bloomberg. Talks with private credit providers are early and the company is still evaluating other options, according to unnamed sources in the Bloomberg report.

As of May 28, the company had nearly $108 million in cash and cash equivalents, down from $1.1 billion a year ago.

The home goods retailer has struggled in recent months after experiencing a boost at the start of the pandemic. During its most recent quarter, Bed Bath & Beyond announced net sales fell 25% year-over-year to $1.5 billion, while comparable sales were down 23%. The retailer’s operating loss increased by more than $265 million and its net loss increased by more than $300 million. Meanwhile, Mark Tritton, who joined the retailer from Target in late 2019, has stepped down as CEO of Bed Bath & Beyond.

H&M launches activewear line with help from Jane Fonda

H&M this week announced the launch of her new brand, H&M Move, with the help of actress and fitness icon Jane Fonda and choreographer JaQuel Knight. The first delivery includes a number of “Move Essentials”, including tops, lightweight jackets, tights, bras and items that help people train and race. The fast-fashion retailer is also dropping its “H&M Move Monogram Collection,” which features a series of tracksuits with reflective details.

Three photo panels with people wearing H&M's new sportswear, including Jane Fonda on the left, a central photo of people on roller skates and choreographer JaQuel Knight on the right.

Courtesy of H&M

“I have spent much of my life moving people and was naturally drawn to H&M Move’s mission to move the world,” Fonda said in a statement. “I also really liked their philosophy of ‘movewear’ over ‘sportswear’. For me, it’s not about playing sports or being the most athletic. It’s about giving your body the kind of movement it needs to stay healthy so it can take care of you.

H&M aims to have 100% of materials used either recycled or sourced more sustainably by 2030.

retail therapy

Aldi wants to add some love to your cart

There are two types of people in this world: those who hate going to grocery stores and those who get married there.

For the latter group, it is a matter of choosing the right supermarket. While it’s hard to imagine a couple choosing to get married at a local Safeway, it’s perhaps unsurprising that Trader Joe’s has already organized a wedding ceremony in a store for an employee who found love in the frozen aisle (with a real person, not ice cream).

Image courtesy of Aldi

Aldi hope join this exclusive club with an offer for two lucky shoppers to become the first married couple at the grocery store, with an Aldi employee serving as the officiant as God intended. The retailer says its customers have already celebrated Aldi-themed marriage proposals, engagement photos, birthdays and baby showers, but this contest is a chance to get married at the store.

This deal is definitely for a couple whose love language is discounts, as the ceremony will be on an “Aldi Discovery Wednesday” and will come with free groceries for a year. The chosen couple will be able to invite up to 50 friends and family members and Aldi will also host a reception with food and drink from its shelves.

If that’s not romantic enough already, the wedding party will be treated to a “behind the scenes” tour of Aldi’s model store at its US headquarters in the bustling metropolis of Batavia, Illinois. And of course the perfect backdrop for wedding photos: an Aldi window display.

Tabasco makes spicy sauce portable

This one’s for all the hot sauce fanatics out there. Tabasco published a limited summer capsule inspired by summer grilling, according to a company press release.

The collection includes a bucket hat with a mini sauce holder, a Hawaiian-style button-up shirt, mules in the classic Tabasco red color, and even temporary tattoos.

Image courtesy of Tabasco

“Our fans are passionate and constantly share the creative ways they use our products,” Kate Neuhaus, director of global marketing communications at McIlhenny Company, owner of the Tabasco brand, said in a statement. “We know everyone recognizes us for our iconic bottle shape, but we wanted to surprise and excite our fans with a drop as creative and original as they are.”

As summer draws to a close, this collection could help you end it on a high — just make sure the hot sauce in your hat doesn’t get in your eyes.

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