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July 2026 | Newsletter No. 36
Baker Retail Rundown
Stay in the know with monthly challenges and noteworthy news from the retail industry.
Curated by our talented Penn student analysts.
U.S. sales are up 14% year-to-date, 16% in Q3. Primark opened a NYC flagship in May and is pushing into Houston and Indianapolis. A global value retailer finding real footing in America.
Trump announced Walmart would cut prices "by a lot" at his administration's request to celebrate America's 250th birthday. Walmart confirmed the cuts, though it had already been aggressively rolling back prices all year.
Blackstone-backed Jersey Mike's officially filed for an IPO with 3,300+ locations and $4.3B in annual system sales — the second-largest hoagie chain in the U.S. behind Subway. A bright spot in an otherwise subdued IPO market.
Nike reported a stronger financial position as it expects nearly $1 billion in tariff refunds from the U.S. government. Executives warned that tariffs and weak consumer demand remain ongoing challenges.
A deeper read on Nike's quarter. Analysts are split. Some say this is the bottom, others call Converse's 32% decline a disaster and are raising the question of whether Nike should sell the brand.
Saks Global emerged from bankruptcy as Exemplar Luxury Group after its merger collapsed. The company reduced its debt by 75% and exited weaker businesses to focus on full-price luxury retail.
The Trump administration's proposed tariffs on 59 countries could increase costs for fashion brands. Labor advocates warn that pushing these costs onto suppliers can lead to layoffs, overtime, and worsening labor conditions.
Reddit is the most cited source ChatGPT uses for beauty recommendations, followed by Who What Wear and Sephora. Brands can improve visibility by maintaining accurate and structured product data for AI.
Brands are increasingly using Substack newsletters as effective sales channels rather than just community building tools. Early adopters like The RealReal have generated significant revenue, proving that these platforms produce tangible business results alongside audience growth.
Ralph Lauren is expanding in France with a new Saint-Tropez store and a highly anticipated flagship planned for the Champs-Elysees. These investments are part of the brand's European growth strategy.
URBN is investing $150 million to expand its Nuuly rental service, creating 1,050 new jobs across the Philadelphia region. The expansion includes a new massive facility in Bucks County.
Mammoth Brands is building a modern consumer goods powerhouse by acquiring disruptive brands like Harry's and Lume. It focuses on digital-first strategies to challenge legacy giants like Procter and Gamble.
Starbucks pulled the plug on its AI inventory tool nine months after deployment. Employees reported the system frequently miscounted items, which complicated store operations and slowed down baristas.
Retailers performed better than expected in the first quarter despite inflation. Analysts warn that resilience from tax refunds and buy now, pay later services will likely fade in the second quarter.
Dollar stores are increasingly offering delivery through services like DoorDash. Experts note that delivery helps retailers reach new customers and generate revenue while providing valuable data on shopping habits.
June Challenge Winner
Experiential Store Concepts
Reimagine the physical store as an immersive experience center rather than just a point of transaction. How can sensory elements and community-building drive foot traffic?
Ana Akra
"Live Sensory Lab: rotating experts host scent, sound, and texture sessions; shoppers test, vote, and co-create displays. The store becomes a weekly ritual and community."
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