News Briefs

Kirkland’s has secured additional debt financing to support its strategic repositioning efforts.

The specialty retailer of home décor and furnishings said it has entered into a supplemental credit facility on Jan. 25, 2024, which will increase its available credit by up to $12 million.  Kirkland's Home secured the financing through a new first-in last-out, asset-based, delayed-draw term loan facility. 

The new facility is in addition to the company's existing $90 million asset-based revolving credit facility. Proceeds from the new facility, when drawn, will be used to provide additional liquidity for ongoing working capital needs. As of closing, the company's combined credit availability under both credit agreements was approximately $21.5 million.

"As we move into 2024, we are pleased to have access to additional capital to further bolster our liquidity position,” said CFO Mike Madden. “The additional capital provides us with sufficient room to continue executing our strategic repositioning, while giving us the ability to accelerate components of our strategy aimed at returning the company to historical levels of performance."

Earlier this month, the retailer promoted Amy Sullivan to CEO, effective Feb. 5. She is the company’s first female chief executive.

“Since transitioning to an executive leadership role, Amy has been integral to the execution of our repositioning strategy and we believe, as CEO, she is poised to return Kirkland’s Home to profitable growth over the long-term,” said R. Wilson Orr, chairman of Kirkland’s Home.

Kirkland's operates 338 stores in 35 states as well as an e-commerce website under the Kirkland's Home brand.  

Content creators and influencers are continuing to impact what consumers, particularly from Gen Z, are choosing to buy.

According to a new report from creator commerce platform LTK, consumers’ trust in creators rose by 21% from last year. More than half (56%) of all consumers surveyed now buy from creators, marking a 64% increase from the previous year. Across all generations, creators now rank as the No. 1 trusted source over social media ads and celebrities.

Among Gen Z and Millennials, 66% actively shop and make purchases through creators, while Gen Z is three-times more likely to say they trust the words of creators over traditional brand advertisements. Even higher numbers of younger consumers (69% of Gen Z and 71% of Millennials) report a higher likelihood of exploring brands or products after engaging with creator content, finding it more inspirational than direct brand content.

Consumers expressed a desire to engage with creator content beyond just social media. More than one-third (34%) of consumers said they want to see creator content on TV, followed by in-store and display ads.

Brands are taking note of the shift towards content creator-led promotion. According to a previous LTK survey, 92% of brands stated influencer marketing will have higher budgets or an increased role in their marketing strategy in 2024. 

“This report underscores the pivotal role creators will continue to play in shaping consumer behavior across all generations - creating a new consumer journey,” said Rodney Mason, VP and head of marketing, brand platform at LTK. “Creators have become a valuable asset for brands - influencing every phase from sparking  inspiration to guiding purchase decisions and fostering brand loyalty.” 

LTK’s national shopper study conducted in December 2023 with 1,104 participants.

Southeastern Grocers Inc. (SEG) has shed one of its banner.

The company has completed the divestiture of Fresco y Más to the Coral Gables, Fla.-based Fresco Retail Group, specializing in the food and grocery industries. The 28 Fresco y Más stores will continue to operate under the same name.

As previously announced in August, SEG entered into definitive agreements with Aldi and Fresco Retail Group to effectuate a comprehensive strategic divestiture of its businesses. Under the proposed merger agreement, Aldi will acquire all outstanding SEG capital stock in an all-cash transaction, which encompasses all SEG grocery operations under the Harveys Supermarket and Winn-Dixie banners.

EG currently anticipates that the proposed merger with Aldi will be completed in the first half of 2024. The company will continue to operate its Harveys Supermarket and Winn-Dixie grocery stores up to and until the transactions are completed. This includes approximately 400 stores in Alabama, Georgia, Louisiana, Mississippi and Florida where 75% of the stores are located.

“The successful sale of Fresco y Más marks an important milestone on our path forward,” said Anthony Hucker, President and CEO of Southeastern Grocers. "As we continue to lead our Harveys Supermarket and Winn-Dixie stores, we remain focused on being the Most Preferred Grocer in the Neighborhood and delivering an exceptional grocery shopping experience complete with the quality, service and value our customers and communities have come to expect.”

T-Mobile is packaging its nationwide 5G business internet with Cisco Meraki devices and cloud-managed networking platform.

The new joint solution, managed by T-Mobile and called Connected Workplace, is designed to enable medium-sized retail businesses to easily assemble a complete connectivity stack connecting technology including POS systems, video surveillance and Internet of Things (IoT) applications.

T-Mobile includes installation, software licensing and 5G gateway and Wi-Fi access point device upgrades every three years at no additional cost. Specific features include:

• Unlimited nationwide business internet, supported by the T-Mobile 5G network.
• Managed services, including design and onsite installation, 5G gateway and Wi-Fi access point device upgrades and software license renewals, 24x7 proactive performance monitoring of network and connected devices, unlimited same day configuration changes, and 24x7 support with onsite equipment repair or replacement.
• Cisco Meraki cloud-managed networking solutions, including 5G gateways, access point, switches, IoT sensors and smart cameras.
• Cloud-managed security provided by Cisco Meraki firewall.
• Cisco Meraki dashboard access for cloud-based network management. 

"Anytime we introduce a new solution, we build it to address critical business challenges, make things easier and deliver the best value for our customers," said Mishka Dehghan, senior VP, strategy, product, and solutions engineering, T-Mobile Business Group. "With Connected Workplace, we’ve brought together Cisco best-in-class Meraki network technologies with our award-winning 5G network to make it easier for businesses to streamline their network infrastructure, ease the burden on IT and improve operations."

[Read more: T-Mobile supports retail enterprise with 5G technology]

Target Corp. is looking to establish itself as a one-stop-shop for all things welleness. 

The retailer announced it is introducing more than 1,000 new wellness-related products , including hundreds exclusive to Target. The lineup runs the gamut from gummy supplements, hydration boosters and non-alcoholic beverages to skincare, workout apparel and the latest tech, with prices starting at $1.99. It also includes new line of beauty and wellness essentials from Goop founder Gwyneth Paltrow.

In addition, the retailer has launched an online wellness destination on Target.com with ideas, products,  meal inspirations and deals.

In store, Target will feature an upfront curated assortment of top wellness-related items across various categories, including All in Motion activewear in colors that match athe retailer’s exclusive assortment of Stanley Tumblers and Bala Bangles. Prominent displays of other top wellness brands will be located throughout the store, including in the health and beauty departments.

“Wellness has been redefined to encompass a more holistic way of living — and it's also different for every person," said Rick Gomez, executive VP and chief food, essentials and beauty officer, Target. "That's why Target is delivering like no other retailer, offering guests the ultimate destination to support their wellness journey, whether that's enjoying a non-alcoholic beverage from Sechey or stocking up on Bloom to get their daily greens.”

Academy Sports and Outdoors has named a new supply chain leader.

The sporting goods and outdoor recreation retailer has appointed Robert (Rob) Howell to the role of senior VP and chief supply chain officer, effective in February. He succeeds Sherry Harriman, who recently left Academy to pursue other opportunities.

Howell joins Academy from wholesale restaurant food distributor giant Sysco Corp., where he spent nearly 20 years in various supply chain, logistics, and merchandising leadership roles. Most recently, he served as chief supply chain strategy officer and led global supply chain strategy and transformation initiatives, including the development of omnichannel capabilities across the supply chain, network strategies for multiple countries, and customized supply chain solutions for large customers.

Prior to Sysco, Howell held roles at CSC Consulting and Randalls Food Market/Tom Thumb. In his new role at Academy, he will oversee supply chain operations, distribution centers, and domestic & international logistics. He report to Academy president Sam Johnson.

"Rob is a proven leader with a record of driving strategic initiatives and optimizing operations to achieve supply chain excellence and cost savings, which will be valuable to Academy as we execute on our long-term growth initiative to leverage and scale our supply chain function to enable industry leading growth,” Johnson said.

Academy operates 282 full-line sporting goods and outdoor recreation stores across 18 states.