It’s been another week with far more retail news than there is time in the day. Below, we break down some things you may have missed during the week and what we’re still thinking about.
From Target’s World Cup-timed pop-ups to Tuft & Needle raising prices, here’s our closeout for the week.
What you may have missed
Target kicks off soccer experience
Target is hosting an interactive soccer experience at stores in four cities across the U.S. between June and July. The experience locations are in Los Angeles, Houston, Atlanta, and Clifton, New Jersey.
The pop-up style experience features a custom display in the store parking lots – inclusive of a player walk out tunnel — with booths for different brands, giveaway bags and more. The experience lines up with the FIFA World Cup, which starts this month in the U.S.
While three of the four locations are major U.S. cities, the Clifton, New Jersey, selection may be an unfamiliar spot to some. But the New Jersey town has a diverse makeup both geographically and demographically, which could be a strategic choice when celebrating a globally loved sport.
Clifton is crossed by several major highways and has a population of around 90,000, serving as a commuter town to New York City. The town’s population is nearly 40% Hispanic or Latino, based on U.S. Census Bureau data, with a majority of residents speaking a language other than English at home.
Several matches in the FIFA World Cup 2026 event are taking place at the MetLife Stadium in New Jersey. As parking is not allowed at the stadium for this event, public transport options include an official shuttle route with one of the stops also in Clifton, New Jersey.
Tuft & Needle raises prices
Tuft & Needle on Wednesday raised prices on its mattresses, according to an email the brand sent to customers.
“We outsmarted math as long as we could,” the company wrote in its email. “We’ve kept our prices steady while things behind the scenes have gotten more expensive. But stretching any more would mean compromising quality — and that’s a route we’ll never take.”
In an effort to “balance things out,” the brand has relaunched its T&N Original Mattress — Legacy Edition, priced at $699 for a queen.
Tuft & Needle was snapped up by mattress conglomerate Serta Simmons in 2018. Serta Simmons filed for bankruptcy in early 2023, exiting later that year.
Retail therapy
Where is Stanley Marcus in the blue suit?
Intense lobbying last year by Dallas city and business leaders managed to stall the shuttering of Neiman Marcus’ downtown Dallas flagship. But the store will cease operating this fall, one of dozens of closures facilitated by owner Saks Global’s bankruptcy. One mystery remains: Where is the portrait of Stanley Marcus in a blue suit, painted by William Foley, that once hung in the building?
Possibly Manhattan. Marcus, a son of one of Neiman Marcus’ founders, is widely credited with expanding the department store into a fashion destination. While the Dallas coalition’s main objective was to keep the store running, some were also concerned about his portrait and demanded its return.
Saks Global last year told KERA News that Richard Baker, the real estate mogul who oversaw the merger of Saks Fifth Avenue and Neiman Marcus Group in late 2024, brought the painting to Saks Global’s offices in New York. Baker is the company’s executive chairman and was briefly also CEO.
Saks Global didn’t respond to questions about the painting’s fate or location. A spokesperson for the Dallas coalition and a lawyer for Richard Baker also have not responded to requests for details and comment.
What we’re still thinking about
770%
That is how much GameStop’s net income was up year over year. The company released its first quarter earnings this week, reporting that it landed its highest quarterly net income in its history at nearly $390 million.
Net sales for the quarter were up 14% to $835.3 million, driven by collectibles, according to a company press release. Operating income was $143.3 million, compared to an operating loss of $10.8 million in the year-ago quarter.
The retailer recently made headlines when it made a $56 billion bid for eBay that was ultimately rejected.
What we’re watching
How realistic are Nike’s turnaround expectations?
Nike in March reported a disappointing Q3, with CEO Elliott Hill acknowledging the company’s turnaround was taking longer than expected. The retailer at the time said full-year revenue would likely decline by the low single-digits. But even that may be unrealistic, according to a client note from BNP Paribas Equity Research.
Roughly 70% of Nike’s business has been declining double digits, senior analyst Laurent Vasilescu said, estimating sportswear makes up more than 50% of revenue and the Jordan brand makes up roughly 15%. With Converse continuing to decline between 20% and 30% each quarter, BNP Paribas estimates that Nike’s performance business needs to grow between 20% and 25% in order for the retailer to hit its guidance for the year.
“Yes, running is growing and football is benefiting from World Cup,” Vasilescu said. But he noted that the company’s soccer business, and other performance sports, have struggled to grow for years. “Nike running (last disclosed at 12% of mix) can't grow 40-50%. As such, we anticipate a cut to guide.”
Nike reports Q4 on June 30.
