The Modern Retail Podcast Rundown: U.S. retail sales, Big Lots' liquidation & Vuori's new fundraise
Dec 21, 2024
In November, U.S. retail sales saw a promising increase of 0.7%, buoyed by strong holiday shopping. Meanwhile, Big Lots announced plans to close all stores in 2025 after struggling with sales and debt. On a more positive note, DTC brand Vuori achieved a whopping $5.5 billion valuation following a successful fundraising round, stirring speculation about an upcoming IPO. The podcast dives into the shifting retail landscape, contrasting the challenges faced by traditional retailers with the growth of emerging brands.
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Retail Sales Growth
- U.S. retail sales grew by 0.7% in November, driven by auto sales and discounts.
- Despite overall cautious growth, online sales jumped 1.8%, possibly due to successful Black Friday sales.
Big Lots Closure
- Big Lots plans to close all stores in 2025 after an acquisition deal fell through.
- The retailer cited rising inflation, higher interest rates, and cautious consumer spending as reasons for declining sales.
Vuori's Funding and IPO Rumors
- Vuori, a direct-to-consumer athleisure brand, raised $825 million in a recent funding round, reaching a $5.5 billion valuation.
- This fuels speculation of a potential IPO, despite the current challenging climate for D2C brands.