After months of tariff-driven volatility, May retail sales showed early signs of settling into a steadier pattern. From Hudson’s Bay’s symbolic closure to creative stunts and bold price pledges, June revealed how legacy players and industry giants alike are working to steady the ship—and stay relevant—as economic pressures persist.
May retail sales showed signs of stabilization following two volatile months of tariff-driven stockpiling. The surge in low-cost imports that defined March and April appears to have eased, with consumer demand and order flow settling into a more typical rhythm.
Among apparel players, G-III Apparel Group delivered better-than-expected earnings, managing to grow profits despite a decline in sales. Meanwhile, PVH Corp. also beat analyst expectations, but executives tempered the good news with caution, warning of headwinds for the remainder of the year.
One of the most symbolic developments of the month came in the first week of June, when Hudson’s Bay Company—North America’s oldest retailer—closed its doors, officially ending a remarkable 355-year legacy. The closure underscores the immense pressure legacy retailers face amid evolving consumer habits and global economic shifts.
Target made headlines by pledging to hold its 2024 prices steady for the back-to-school season in 2025. The move appears aimed at reinforcing value perceptions during a time of continued inflationary and tariff-related uncertainty.
In the athletic sector, Nike continues to wrestle with softening demand. Despite ongoing sales declines, the company insists that its turnaround strategies are taking hold. Leadership is also preparing for significant new cost burdens, with tariff impacts potentially reaching $1 billion.
In a more unconventional branding play, JC Penney inserted itself into the news cycle with a bold stunt—funding a wedding in Venice (California) for a couple that had invited Amazon founder Jeff Bezos but received no response. The move is part of a broader effort to revive the retailer’s relevance and resonate with younger audiences.
Walmart, meanwhile, is investing heavily in its future. The company opened a new, state-of-the-art corporate campus designed to support talent acquisition and modernize operations. It also expanded its drone delivery service to five additional cities in the southeastern U.S., signaling continued investment in last-mile innovation.
Behind the scenes, apparel makers are renegotiating with overseas suppliers, seeking ways to offset the rising costs of doing business under a shifting tariff regime. A recent New York Times feature shed light on renewed interest in the U.S. textile sector, exploring whether the current trade environment might finally tip the scales toward more domestic manufacturing.