Today in Retail: Crocs D2C Sales Nearly Double in Two Years; Walmart Extends Holiday Delivery Options

In today’s top retail news, Crocs executives say demand for their footwear is still outpacing their ability to produce and import product, while Walmart is adding more hours and items to its delivery options. Also, Blackstone is acquiring a majority stake in women’s shapewear brand Spanx, and PayPal’s reported interest in Pinterest could add new capabilities to its super app.

Crocs Says Demand ‘Way Beyond’ Supply Amid Factory Closures, Supply Chain Snags

Crocs executives say they remain on track to reach both long- and short-term sales goals despite supply chain headwinds, as demand for the polarizing footwear continues to outpace supply. Officially, Crocs recorded nearly $626 million in revenue in the third quarter, up 73% compared to 2020. Digital sales grew 69% year over year and 129% on a two-year stack, representing 37% of revenues between July and September.

Walmart Expands Delivery Options Ahead of Holidays

Walmart is extending store delivery hours during the holiday season, adding more delivery windows for customers to get their orders and more delivery-eligible items in anticipation of the annual shopping rush. Drivers will be making deliveries from Walmart stores until 10 p.m. local time, two hours later than normal, and customers will have more time to amend their orders, meaning they can add an extra item that was inadvertently left off and still get it with the rest of the order.

Blackstone Snags Spanx Majority Ownership

Blackstone Inc. is buying a majority stake in women’s shapewear company Spanx Inc. in a move that puts Spanx’s value at $1.2 billion, according to The Wall Street Journal. Spanx Founder Sara Blakely will have a significant stake in the company as executive chairwoman when the acquisition is finalized, according to the Journal, and she will continue to oversee operations of the 21-year-old brand.

PayPal’s Interest in Pinterest Adds Social Commerce to Super-App Vision

PayPal may soon be making a social commerce purchase, though likely on a larger scale than consumers buying many items: The financial services company is reportedly interested in buying the photo-sharing social media platform Pinterest. The potential acquisition would value Pinterest at $45 billion and could bolster PayPal’s new financial super app, which launched last month, with the ability to tap into social commerce channels.