Recorded live at the CommerceNext Growth Show in NYC, Steve Dennis and Michael LeBlanc welcome Jason LaRose, CEO of Bombas — the mission-driven brand behind more than 200 million essential clothing donations. LaRose shares how quality, comfort, and mission (in that order) power profitable growth across DTC, wholesale, stores, and international. Plus the news: Nike stalls, Levi's and Aritzia soar, Uniqlo marches on, Costco keeps winning, and Kroger buys Giant Eagle — scale play or relevance problem?
This episode comes to you live from our pop-up studio at the CommerceNext Growth Show in New York City. Our guest: Jason LaRose, CEO of Bombas — the brand that turned socks, underwear, and tees into a mission-powered growth machine, with more than 200 million essential clothing items donated to people experiencing homelessness.
But first, the news — and in our summer biweekly format, there's plenty.
Steve breaks down Nike's unimpressive quarter: revenues down, China off 12%, and an operating profit boost driven almost entirely by a nearly billion-dollar one-time tariff refund. The contrast with Levi's couldn't be sharper — under Michelle Gass, the brand posted 8% sales growth, expanding margins, and momentum across women's and tops.
The winners keep winning elsewhere too. Aritzia's remarkable run continues with comps up an eye-popping 35% and digital up nearly 60%. Uniqlo parent Fast Retailing delivers 22% revenue growth from its 2,500-store global fleet. And Costco's monthly numbers offer fresh evidence of retail's Great Concentration.
Then there's Kroger, acquiring regional grocery powerhouse Giant Eagle — a $9 billion revenue business bought at a strikingly low multiple. Michael and Steve debate the real question: does acquiring-to-compete solve Kroger's relevance problem, or just buy cost leverage against Walmart, Costco, and Amazon?
Then it's on to Jason LaRose, who joined Bombas after leadership roles at Under Armour and Equinox. What drew him in: a genuine mission wrapped around outstanding economics — profitable essentially since day one. He traces the brand's arc from Indiegogo campaign and Shark Tank's most successful company ever to nearly $2 billion in cumulative sales, now expanding into underwear, tees, footwear, and slippers — the very items most requested in homeless shelters.
LaRose also delivers a masterclass in disciplined distribution: highly curated wholesale partnerships with Target, Dick's, Nordstrom, and Scheels, each with distinct assortments for distinct customers, alongside the brand's first stores and expansion into Canada. His mantra — quality, comfort, mission, in that order — explains why repeat rates keep the funnel from leaking where so many DTC peers sprang holes.
Wrapping up, on Steve's radar: a Dallas-area tour of the newly merged Container Store and Bed Bath & Beyond format (who exactly is this store for?), plus his provocative new Substack essay, "Convenience is Boring." On Michael's radar: the soon-to-open Gordie Howe Bridge, his conversation with U.S. Ambassador Pete Hoekstra, and why USMCA review limbo keeps piling uncertainty — and cost — onto businesses and consumers across North America.