Today In Retail: Bed Bath & Beyond Unveils Three More Owned Brands; Advance Auto Parts’ Net Sales Surge
In today’s top retail news, Bed Bath & Beyond is debuting three more owned brands, while Advance Auto Parts reported a large increase in net sales and comparable store sales. Plus, Etsy is raising the stakes in the clothing resale segment with its purchase of Depop.
Bed Bath & Beyond is debuting three additional owned brands by mid-July. Wild Sage, Our Table and Squared Away are the new brands. Squared Away is a collection of storage, organization and cleaning solutions, while Our Table consists of modern kitchen and dining wares. Wild Sage is a line of pieces for the bedroom, bathroom, dining room and living spaces.
Advance Auto Parts reported as part of its first quarter 2021 results that net sales jumped by approximately 23 percent from the year before, as comparable store sales surged by approximately 25 percent. President and CEO Tom Greco said in an announcement that the company “delivered record-breaking sales growth across our business” in the first quarter of 2021.
Etsy, the self-proclaimed “global marketplace for unique and creative goods” is poised to add secondhand apparel to the list, as the platform dives headfirst into retail’s hottest growth area. In revealing its $1.6 billion purchase of the decade-old United Kingdom-based resale marketplace Depop, Etsy said it aims to grow its reach into the quickly expanding resale sector, while also gaining access to a new segment of hip, young consumers.
The globe’s worst-kept secret in retail was confirmed overnight, as Amazon revealed it will hold its yearly Prime Day sales even on June 21 and 22 — only 10 days prior to the conclusion of the second quarter and before its traditional placement in mid-July. The much-promoted two-day event will encompass more than 2 million markdown items.