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 layoffs at Affirm to Jennifer Coolidge’s Superbowl debut for E.l.f Cosmetics, here’s our closeout for the week.

What you may have missed

Update on Dollar General’s alleged pricing discrepancy lawsuit

Dollar General this week reached an agreement in an Ohio price discrepancy lawsuit.

In a November lawsuit, Attorney General Dave Yost accused the discount retailer of declining to correct ongoing pricing discrepancies between prices advertised on shelves and what customers were charged at the register. The agreement averts the imposition of a temporary restraining order.

Among other conditions, the court order requires district managers to perform price checks for at least 25 items in each Ohio store every 45 days. If more than five items show discrepancies, the corporate office must be notified. 

Employees must also charge a product’s shelf price if customers claim that they are being charged more at checkout. In cases when a price override is necessary, the store must take steps to correct the discrepancy. Finally, The company is also required to educate all employees about the policy and must post signs in its Ohio stores informing customers of the policy. 

Layoffs at Affirm

Buy now, pay later service provider Affirm this week announced that it is cutting 19% of its workforce, or around 500 employees. For Q2, the company reported a net loss of over $322 million, compared to $159.7 million in the year-ago quarter. 

“A key operational misstep contributing to these results is that we began increasing prices for our merchants and consumers later in the year than we should have,” CEO Max Levchin said in a letter to Affirm shareholders. “This had a negative impact on both our ability to approve more consumers and improve our margin.”

BNPL played a large role in the success of this past holiday retail season, specifically during Cyber Week

David’s Bridal says “I do” to Something Borrowed Blooms

David’s Bridal this week announced it has partnered with silk floral rental company Something Borrowed Blooms. 

Image courtesy of Davdi’s Bridal

 

Something Borrowed Blooms offers pre-arranged collections that emulate the look and scent of real flowers, but for over 70% less cost than traditional florists. 

“Florals are an incredibly important component to the wedding day — they tell a story, elevate the ambiance, and bring joy to the big day,” Jim Marcum, CEO of David’s Bridal, said in a statement. “Their core belief that your budget shouldn’t limit your big moments as well as their thirst for innovation runs parallel with our foundational values in service.”

Retail therapy

Panera debuts a baguette bag

Panera, in celebration of its newest menu item of toasted baguettes, released a BAGuette purse in the restaurant’s staple green colorMatching the size of the sandwiches at 12’’, the purse features an embossed letter P pattern all over and opens from a gold metal buckle in the same signature initial. While the caprese, buffalo chicken and pepperoni mozzarella baguettes start at $9.99 each, the coordinating purse retailed at $39.50, and is already sold out

Before running out, 500 purses were available for pre-sale in honor of New York Fashion Week. MyPanera rewards members who purchase all three sandwiches from the toasted baguettes collection will be entered for a chance to win a BAGuette purse. 

Jennifer Coolidge debuts “dolphin-like” skin with E.l.f. Cosmetics for Super Bowl ad

Marking the brand’s first television commercial, beauty company E.l.f. Cosmetics has brought on “White Lotus” powerhouse duo Jennifer Coolidge and Mike White for its Super Bowl ad, per a company press release Thursday.

Image courtesy of E.l.f.

 

The 30-second spot is focused on the brand’s Power Grip makeup primer, with actress Collidge intending to bring viewers through a series of “sticky” situations showcasing the product’s grip capabilities. The ad is co-written by White, who created the hit HBO show Coolidge starred in for two seasons.

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