News Briefs

Industries across the board are cutting jobs, and the retail industry is no exception. 

U.S. retail employers announced 80,487 job cuts through July, up 249% from the 23,077 cuts announced during the same period last year, according to a report from global outplacement and executive coaching firm Challenger, Gray & Christmas. Retailers are being impacted by tariffs, inflation and ongoing economic uncertainty, causing layoffs and store closures, the report noted. Further declines in consumer spending could trigger additional losses.

The retail industry is by no means alone in job losses this year. So far this year, companies have announced 806,383 job cuts, the highest year to date since 2020 when 1,847,696 cuts were announced.

Closings of stores, units or plants have led to 120,226 layoffs so far this year, according to Challenger, Gray & Christmas. Restructuring efforts have resulted in 66,879 job cuts, while bankruptcies accounted for another 35,641 layoffs.

Technological updates, including automation and AI implementation, have led to 20,219 job cuts in 2025. Another 10,375 were explicitly attributed to artificial intelligence, suggesting a significant acceleration in AI-related restructuring.

[READ MORE: Amazon CEO Jassy expects AI to reduce workforce, streamline operations]

Other notable drivers of cuts include cost-cutting (19,977), contract losses (9,591) and financial losses (4,909). A total of 19,772 cuts were announced without a specified reason.

After a flat performance in 2024, the U.S. toy market has returned to growth.

In the first half of the year, dollar sales of toys increased by 6%, units sold were up 3% and the average selling price, which has been flat for three consecutive years, grew by 3% versus the same period a year ago.

Looking at demographics, adults continue to drive market growth in toys, with sales increasing by 18% for recipients aged 18 and older. The growth in the adult market was nearly split between males and females. The growth in ages nine to 11 rose 9%, and the growth in ages 12 to 17 rose 6%. 

According to Circana’s retail tracking service, seven of the 11 supercategories posted dollar growth including games and puzzles (up 39%) and explorative toys (up 19%). Other supercategory growth areas included youth electronics (up 9%), action figures (up 8%), building sets (up 7%), arts and crafts (up 4%) and vehicles (up 2%).  

Licensed toys, which make 37% of toys sold in the U.S., grew by nearly four share points in the first half, compared to 2024, with sales increasing 18%. Every top growth property so far this year is connected to licensing, content or movie releases in some form. Video game properties were dominant among the top 10 gainers.

“The toy industry is showing strength during this period as consumers are holding their breath and waiting for higher prices to kick in,” said Jill Lennett, VP and toy industry advisor, Circana. “This resilience is especially important as we set our sights on the holiday season and what categories are critical for the consumer to bring joy to their loved ones.”

A growing sporting goods retailer has named a new chief legal officer.

Texas-based Academy Sports + Outdoors has welcomed Brandy Treadway as executive VP, chief legal officer and corporate secretary. In the role, she will oversee all enterprise legal, compliance and risk management functions supporting the company’s corporate, distribution centers and retail initiatives. Treadway will report directly to Academy CEO Steve Lawrence.

Most recently, Treadway served as senior VP, chief legal officer and corporate secretary for RumbleOn, a buy-sell-trade platform for powersports vehicles. Before a stint as corporate partner at Martin Powers & Counsel, PLLC, she served as senior VP, general counsel & secretary at JCPenney, in addition to other executive and leadership positions throughout her 10-year tenure at the company. She also spent six months as the interim chief human resources officer at JCPenney.

[READ MORE: Academy Sports opening three new stores in Q2]

Founded in 1938, Academy operates more than 300 stores across 21 states. Academy's product assortment focuses on the categories of outdoor, apparel, sports & recreation and footwear through both leading national brands and a portfolio of private label brands.

In an unexpected move, the chief executive of Walmex has exited the company. 

Walmart de México y Centroamérica (Walmex) said that Ignacio Caride submitted his resignation as president, CEO and as a member of the board, effective Aug. 1. The board has appointed Cristian Barrientos Pozo, president and CEO of Walmart Chile, as interim CEO while the company conducts a search for a permanent successor. Pozo previously served as senior VP of operations at Walmart de Mexico. 

Caride joined Walmex in 2018 as VP of e-commerce, and was named leader of omnichannel operations in January 2023. He was appointed CEO in April 2024. No reason was given for his resignation.

“We are proud of everything we have accomplished together and thank him for the way he has evolved the omnichannel shopping experience for our customers and members,” the company stated.

Pozo began his retail career as a wine buyer with Walmart Chile, and has served in roles of increasing responsibility during his 26-year career. In addition to naming him interim CEO, the board approved the provisional appointment of Pozo as a board member.

Walmex operates in six countries: Costa Rica, El Salvador, Guatemala, Honduras, Mexico and Nicaragua. It has more than 4,000 stores and clubs, as well as 32 distribution centers in the region.

Walmart is going on tour.

The retail giant has transformed five of its delivery trucks into experiential experiences that will stop at a wide range of events, from concerts to conventions to marathons and more, and city parks. The trucks are packed with interactive experiences, customizable giveaways and a curated assortment of items that visitors might not expect Walmart to have. All items are shoppable via QR code on Walmart.com or the app.

The “Walmart Delivers” tour is designed to bring the retailer's new "Who Knew?" campaign to life. (Launched in June, the campaign challenges consumer perceptions about Walmart and emphasizes the breadth of its merchandise and services.) Full-service agency Giant Spoon designed and executed the five-truck activation and tour stops from the ground up.

The first stop on the tour, which will run through early November, first stop, was on Saturday, Aug. 2, at KCON LA, a celebration of Korean music and culture and one of the largest U.S.-based K-pop events of the year. The next stop is scheduled for Aug. 9, at the Teddy Swims concert in Irving, Texas. (For a complete list of stops and more information, click here.)

Walmart Delivers will appear in ten major cities through November 2025, including New York City, Washington D.C., Atlanta, Chicago, Dallas, Houston, Los Angeles, Philadelphia, Phoenix and Tampa. 

Footwear giant Caleres has added a luxury brand to its portfolio.

The company, whose brands include Famous Footwear, Sam Edelman, Allen Edmonds, Naturalizer and more, has closed on the acquisition of Stuart Weitzman from Tapestry Inc. for $120.2 million. (Excluding cash received at the closing, the net purchase price was $108.7 million. )

Jonathan Lelonek, who joined Stuart Weitzman in 2012 and most recently served as senior VP of global wholesale, has been named Stuart Weitzman brand president. 

“We are honored to welcome Stuart Weitzman to Caleres as our newest lead brand and to congratulate Jonathan on his appointment as brand president,” said Jay Schmidt, president and CEO of Caleres. “With the addition of Stuart Weitzman, our brand portfolio segment will represent nearly half of our total revenue going forward.”

The deal, which was announced in February, will allow Tapestry to focus on its two remaining brands — Coach and Kate Space — while accelerating the growth of Caleres’ brand portfolio. Tapestry acquired Stuart Weitzman in 2015 from Sycamore Partners. The deal was valued at $574 million.

Stuart Weitzman generated trailing 12-month sales of approximately $220 million and has a strong presence in North America, Europe and Asia across both wholesale and direct-to-consumer channels. Caleres said it expects to leverage its capabilities and expertise in footwear to return the brand to profitability after a period of transition and integration through the balance of this fiscal year.

“As we integrate this iconic brand, we remain committed to preserving the artistry, quality and renowned fit at the brand’s core,” said Schmidt.

(Photo: The iconic Stuart Weitzman "Nudist" sandal)