Hey Friends,
It’s Masters Week, one of my favorite weeks of the year. Augusta National, home of the annual Master’s Tournament, is keeping its famously affordable food prices unchanged for 2025. Classics like the egg salad and pimento cheese sandwiches still cost just $1.50—a price unchanged since 2002. Other favorites like the Masters Club, Pork Bar-B-Que, and Georgia Peach Ice Cream Sandwich remain $3.00.
While some of the data is a year or two old….Augusta National makes over $69 million from merchandise sales during the Masters—about $10 million per day, or $1 million per hour. That breaks down to $16,000 per minute and $277 per second. Some patrons reportedly spend up to $30,000 in a single shopping trip, driven in part by a major shop expansion in 2018.
Key revenue from previous years:
Merchandise: $69M
Badges: $40M
International TV rights: $25M
Concessions: $8M
On-course sponsors & domestic TV rights: $0
Augusta National maintains its exclusive image by limiting sponsors to just six (AT&T, Delta, IBM, Mercedes-Benz, Rolex, UPS), who share only four minutes of ads per hour. Its TV deals with CBS and ESPN give Augusta full broadcast control—with no revenue in return—underscoring the club's commitment to tradition over profit maximization.
This Week in Retail Therapy
I will admit it, I don’t like self-checkout. I think the throughput is far worse than traitional checkout aisles, and the staffing conundrum is never figured out. Every time I use it, I feel like I’ve been promoted to cashier without the training or the paycheck. Suddenly, I’m scanning barcodes like I’m defusing a bomb, listening to a machine bark “unexpected item in bagging area”. And when I inevitably need help, I stand there awkwardly, waiting for a real human to rescue me from the cold, judgmental glow of the screen. But I may be changing my tune, in one very specific use case.
I was at my local Spinx yesterday, where they have implemented a new SCO system from NCR. There were no lines during pre-work rush hour, no bags needed, and the number of SCO stations far outweighed the number of traditional point of sale terminals they would have had. This is a perfect example of deploying technology that improves the customer experience. I approve!
I’m trying to not turn this newsletter into This Week in Tariffs, but here is something I’m tracking…….I read an article in CNBC last week that I think gets overlooked in the grand scheme of the tariff war.
“Trump’s massive 46% Vietnam tariffs pummel Nike, American Eagle and Wayfair” - Here’s What You Should Know
Retailers and brands that moved production from China to Vietnam to dodge earlier U.S. trade tensions are now in the crosshairs. A 46% duty on Vietnamese imports takes effect April 9, hitting industries like footwear, apparel, furniture, and toys.
Companies heavily reliant on Vietnam—like Nike, Adidas, Wayfair, Hasbro, and VF Corp.—saw their stocks plunge after the announcement. Nike, for example, makes about 25% of its shoes in Vietnam, and nearly a third of all U.S. footwear imports came from the country in 2023.
Vietnam had been a top alternative manufacturing hub, with U.S. imports from the country rising 19% in 2024. But with tariffs now targeting both Vietnam and China, businesses are reconsidering their supply chains again, looking to places like Cambodia, Indonesia, and the Philippines.
Industry leaders warn that the tariffs could worsen inflation and strain consumers. Many companies are scrambling to renegotiate factory costs or shift production, but uncertainty looms over where to go next. Executives say flexibility is key, but there’s no clear safe haven as global trade tensions rise.
QVC Group is launching the first-ever 24/7 live shopping streams in the U.S. on TikTok starting Wednesday, aiming to revive its struggling business and attract a broader, younger audience. The nonstop streams will feature QVC hosts alongside TikTok creators, marking a major push into social commerce.
CEO David Rawlinson II is leading the company’s transformation, with social media at the center of the strategy. While live shopping has thrived in China, it has yet to gain widespread traction in the U.S.—but QVC is betting that this move could change that.
The company has already seen over 74,000 TikTok creators feature QVC products since joining TikTok Shop last year. The new partnership will also give TikTok Shop its first continuous live stream of shoppable content.
The People's Union USA, a nonpartisan grassroots group, is extending its "Economic Blackout Tour" with more planned boycotts of major U.S. companies through at least July. The organization aims to fight corporate greed and protect the American working class from systemic inequality.
Its latest action is a weeklong boycott of Walmart, running from April 7–14, targeting the retailer’s alleged tax avoidance, rising prices, and rollback of diversity and inclusion efforts. The boycott includes Walmart’s retail and online operations, grocery and pharmacy services, Sam’s Club, and Walmart’s private-label brands. The group says the movement is only beginning and plans to continue its campaign.
Target will be shutting down all 1,978 of its stores for a full 24 hours for Easter.
This year Easter Sunday falls on Sunday, April 20, 2025, several major retailers and grocery stores will be closed to observe the holiday. Notable closures include:
Costco: Warehouses will not be open on Easter Sunday.
Sam's Club: All clubs will be closed for the day.
Publix: Stores will not operate on Easter Sunday.
ALDI: All locations will be closed.
Lowe's: All 1,700+ U.S. locations will be closed for 24 hours on Easter Sunday.
Best Buy: Stores will be closed on Easter Sunday.
Macy's: All locations will be closed in observance of the holiday.
Kohl's: Stores will not be open on Easter Sunday.
Marshalls: All stores will be closed.
TJ Maxx: Locations will not operate on Easter Sunday.
HomeGoods: Stores will be closed for the holiday.
JCPenney: All locations will be closed on Easter Sunday.
Hobby Lobby: Stores will not be open.
Office Depot: Locations will be closed on Easter Sunday.
Bloomingdale's: Stores will not operate on Easter Sunday.
Nordstrom & Nordstrom Rack: All locations will be closed.
Michaels: Stores will not be open on Easter Sunday.
Please note that store hours can vary by location, and it's advisable to check with your local store or their official website for the most accurate and up-to-date information.
A lot of Target news this week…… Kate Spade New York is launching a limited-time collaboration with Target, featuring over 300 items across women's, children's, and baby apparel, handbags, home accessories, and entertaining essentials. The collection will be available starting April 12, 2025, both online and in most Target stores. This partnership aims to bring Kate Spade's signature style to a broader audience at accessible prices, with more than half of the items priced under $15 and starting as low as $5. Notable pieces include a $10 Large Tote Bag, a $45 Raffia Bow Tote Bag, and various fashion-forward yet affordable options. The Kate Spade New York x Target collection will be available for a limited time, with select items offered exclusively in-store. Given the anticipated demand, shoppers are encouraged to act quickly to secure their desired pieces.
Ulta Beauty is pausing the expansion of its shop-in-shop locations inside Target stores, according to CEO Kecia Steelman. Speaking at JPMorgan’s Retail Round Up Conference, Steelman said the focus for now is on maximizing the performance and efficiencies of the 600+ existing locations, rather than pushing toward the original goal of 800.
The partnership between Ulta and Target, launched in 2020, is structured as a royalty agreement: Target owns the inventory and handles staffing, while Ulta reports its share as “other revenue.” Steelman, a former Target executive, has played a key role in developing the collaboration, which began with 100 locations in 2021.
She declined to comment on the future of the partnership beyond 2025, when the current agreement expires.
Gap has introduced GapStudio, an elevated sub-brand designed under the creative direction of Zac Posen, who joined Gap Inc. as Executive Vice President and Creative Director in February 2024. The inaugural collection, Collection 01, debuted on April 3, 2025, featuring 51 tailored womenswear pieces priced between $78 and $248. This collection reimagines Gap's classic staples with refined draping and modern silhouettes, incorporating elements like denim, cotton shirts, and khakis. Notable items include a $158 reinterpretation of Anne Hathaway’s maxi shirt dress, a $248 denim trench coat, a $178 double-breasted blazer, and $128 high-waisted sailor pants.
The campaign features prominent models such as Imaan Hammam, Anok Yai, and Alex Consani, photographed by Mario Sorrenti. GapStudio is available online and at select physical locations, including stores in San Francisco, New York's Flatiron district, Times Square, and East 86th Street.
There’s some disruption on the traditional retail front…..Temu has earned a spot on USA TODAY’s "America's Best Stores 2025" list, recognized in the mass merchant and variety category alongside giants like Amazon and eBay. It is the youngest company in this category.
The ranking, developed with Plant-A Insights Group, evaluated 500 U.S. retailers—both physical and online—based on nearly 500,000 customer reviews from over 65,000 participants. Criteria included product quality, pricing, trust, shipping, customer service, and website usability. Only companies with a clean ethical record were considered.
Temu stood out for its wide selection of affordable products, helping customers stretch their budgets. The platform is also increasingly supporting local businesses, with over half of U.S. orders now fulfilled locally to improve delivery times and product availability.
In some technology news…..Appriss Retail, a leader in returns and claims fraud prevention, has launched a major integration with Shopify’s unified commerce platform. This new partnership gives Shopify merchants access to Appriss’s AI-powered fraud prevention tools—long trusted by global retailers—to better detect and reduce returns and claims fraud across all channels.
Key benefits of the integration include:
Faster setup and scalability through seamless Shopify POS integration
Reduced return rates and fraud leading to better margins and increased sales
Improved customer experience with frictionless returns for loyal shoppers
Protection against fraudulent claims, such as false “item not received” reports
Compatibility with top returns platforms like Optoro and Narvar
Elimination of frequent policy changes that frustrate honest customers
The integration addresses a critical retail issue: over $100 billion in annual fraud losses, as reported by Appriss and Deloitte. Appriss has also recently partnered with Riskified and Optoro to strengthen its end-to-end fraud prevention ecosystem.
Amazon is set to launch 27 satellites on Wednesday from Cape Canaveral, Florida, as part of its ambitious Project Kuiper, which aims to deploy 3,000 satellites into low-Earth orbit. The goal is to build a global network offering high-speed internet access, positioning Amazon as a direct rival to Elon Musk’s Starlink system. This marks a major milestone in building out the satellite infrastructure needed to support global connectivity.
Variety Wholesalers, a buyer of assets from the bankrupt Big Lots chain, will reopen 219 Big Lots stores starting April 10, 2025. The first wave includes nine locations across six states, with about 55 more opening on May 1 and the rest launching in phases through early June. A grand reopening celebration is planned for this fall.
New stores will appear in states like Alabama, Florida, Georgia, Ohio, Michigan, Pennsylvania, South Carolina, and West Virginia. Variety Wholesalers, which owns banners like Roses and Maxway, acquired Big Lots’ stores, distribution centers, and intellectual property in a December 2024 deal with Gordon Brothers.
CEO Lisa Seigies said the revived Big Lots will offer more deals, name brands, and even a new family apparel department, with product selection growing weekly ahead of the grand reopening.
A new report by PYMNTS Intelligence and Cantaloupe highlights how “smart stores” are transforming inventory management. Using AI, IoT, weighted-shelf sensors, and tracking cameras, these stores can monitor stock with 99% accuracy, adjust pricing dynamically, and predict restocking needs in real time.
The impact is significant: early adopters of smart store tech have seen up to a 30% sales boost and lower staffing costs. One college campus even saw weekly sales jump from $450–$600 to $1,600 after replacing vending machines with Smart Stores. With faster restocking and better stock visibility, advanced tech is turning inventory from guesswork into precision retail.
That’s all folks….Have a great week!