This Week in Retail #109

Kithmas, Olympic Drops, Recovery Hotels, and a $72B Media Shock

Hey Friends,

Lots to catch up on this week. Retail is closing out the year with some surprisingly strong momentum, especially in apparel and accessories, while brands across fashion, luxury, sports, entertainment, and even fintech are making moves that set the stage for 2026. In today’s edition, we’re breaking down what Black Friday performance really signals about consumer behavior, how Kith and Ralph Lauren are redefining holiday and Olympic-era retail, and why adidas’ Hybrid Hotel is the latest example of brands blurring the line between store and experience. We’ll also dig into Dollar General’s expansion push, Quince’s unexpected move into wine, Versace’s sale and creative shake-up, Netflix’s industry-shifting acquisition, and Kalshi’s surge into the fintech big leagues. Grab a coffee….there’s a lot of change happening, and it’s going to shape the retail and cultural landscape heading into the new year.

Let’s get into it………

Black Friday results this year pointed to surprising strength in apparel and accessories. According to aggregated retail data, apparel sales grew 5.7% year-over-year, with online sales up 6.1% and in-store up 5.4%. Jewelry also saw a healthy 2.75% uptick. Overall, U.S. retail (excluding autos) rose more than 4% compared with last year, buoyed by a 10.4% surge in online spending, while in-store growth remained more modest at 1.7%.

What’s notable is that despite persistent macroeconomic pressures — inflation, tighter budgets, rising interest rates — consumers are still willing to spend in categories tied to fashion, gifting, and personal indulgence. The boost in online sales reaffirms that digital convenience and promotions still draw shoppers, while stable in-store performance suggests physical retail isn’t dead: many consumers still value the immediate gratification, browsing experience, and certainty of traditional stores. The data paints a picture of a consumer who is cautious but opportunistic, prioritizing value, deals, and gifting, but not entirely cutting lifestyle or discretionary spending.