News Briefs

Joann’s liquidation has been a boon to other arts and crafts retailers.

In May, Joann closed its final stores, with the move coming after the retailer announced in February that it was winding down operations after 82 years in business. Since the closures, other crafting retailers, including Michaels, Hobby Lobby and Blick Art Materials, have all seen a boost in foot traffic, according to a new Placer.ai report, “The Post-Joann Arts and Crafts Retail Landscape.”

One of the biggest beneficiaries of Joann’s demise has been its longtime competitor Michaels, whose store traffic rose 9.2% year over year in June, reported Placer.ai. (Also in June, Michaels completed the acquisition of the intellectual property and private label brands of Joann.)

“With the acquisition of Joann’s intellectual property, Michaels has solidified its position as the category leader, and its ability to absorb displaced customers will define the industry's landscape in the near-term,” the Placer.ai report said. 

The report noted that success in the current craft space may require operating at one of two extremes: either achieving market dominance through scale or cultivating a defensible, premium niche that sidesteps mainstream competition.

In April, Placer.ai released a report that said the largest players in the arts and crafts space — Hobby Lobby and Michaels — appeared to have grown their market share at the expense of Joann, and stood to gain even more from the retailer’s departure. 

In addition, an analysis of the median household incomes (HHI) of the three retailers’ 2024 captured trade areas revealed that Joann attracted more affluent visitors than Hobby Lobby but lower-HHI visitors than Michaels. 

"This suggests that in the absence of Joann, the chain’s wealthier shoppers may gravitate towards Michaels while its lower-income shoppers may more naturally turn to Hobby Lobby," the report said.

Sur La Table has expanded its executive leadership team.

The specialty retailer of cookware, kitchen electrics and bakeware has appointed Dan Goldman as president, effective as of July 14. With more than 20 years of experience across retail, consumer goods, and private equity-backed businesses, Goldman most recently led brand strategy at Banana Republic and Athleta, as well as corporate strategy & development at Gap Inc. 

Prior to Gap, he held leadership roles at The North Face, McKinsey & Company and Kurt Salmon, as well as brand management roles at Procter & Gamble.

At Sur La Table, Goldman will focus on “aligning internal teams, elevating customer experiences, and embedding innovation across channels." His appointment comes as the company is focused on growth. In March, it announced the acquisition of Seattle Coffee Gear, a coffee equipment retailer.

“Dan’s hire is one of the most important leadership decisions we’ve made as part of our aggressive growth strategy,” said Jordan Voloshin, CEO of Sur La Table. “As we continue to achieve our bold objectives and execute against a multi-year brand plan, we identified a leader with the rare ability to bridge vision and action. Dan’s expertise in brand storytelling and operations, alongside his team-first mindset, makes him exactly the right person to help bring our ambitious vision to life.”

A golf equipment and apparel retailer is streamlining omnichannel payments.

Worldwide Golf is deploying the Adyen financial technology platform and SFO1 POS terminals in an effort to deliver a seamless and modern payment experience across all channels.

"As we looked to modernize and streamline our payment process, it was essential to find a partner that could unify our transactions across in-store and digital touchpoints," said Dan Appell, CFO & chief strategy officer at Worldwide Golf. "Adyen’s technology provides the flexibility, scalability, and reliability we need to elevate and further personalize the shopping experience for our customers while optimizing our payment operations."

Leveraging Adyen’s single platform, Worldwide Golf can consolidate payments across its e-commerce channels and nearly 100 physical stores, with the goals of gaining deeper insights into customer preferences and enhancing operational efficiency.

The Adyen SFO1 terminals provide real-time transaction insights and multiple connectivity options across all store environments. Worldwide Golf intends to utilize the terminal solution’s customizable interface and customer engagement features to help personalize its shopping experience while strengthening brand loyalty.

"We’re thrilled to partner with Worldwide Golf as they take the next step in their payments evolution," said Alex Rhodes, senior VP of unified commerce at Adyen. "Our unified commerce solution empowers merchants to deliver frictionless transactions while unlocking valuable data to drive business growth. We look forward to supporting Worldwide Golf in their journey to create a seamless, modern payment experience." 

[READ MORE: Crate & Barrel unifies payment and customer experience across channels]

Founded in 1963 and headquartered in Santa Ana, Calif., Worldwide Golf operates nearly 100 stores across the U.S. and the e-commerce website WorldwideGolf.com. 

(Photo: Mikael Damkier)

[READ MORE: Crocs AI-enables Jibbitz customization]

The CFO of Tailored Brands Inc. is departing the company fo join a luxury retailer.

Tailored Brands, whose portfolio includes Men's Wearhouse, Jos. A. Bank, Moores and K&G Fashion Superstore, said that CFO Brandy Richardson is leaving the company, effective July 25. In separate news, Richardson will join Saks Global as finance chief, effective Aug. 18.

Tailored Brands said it has launched a search for a successor. In the interim, the existing finance team will report to president John Tigh, who is set to take the reins of the company on Aug. 5.

“Since joining us in 2021, Brandy has contributed to our successful business and financial transformation," Tigh stated. "With a strong foundation in place, I’m confident that with our talented leadership and finance teams we are well-positioned to execute our future growth plans and build on our momentum. I appreciate Brandy’s partnership and leadership over the years and wish her continued success in her next chapter.”