Andy Hart

One of the smartest thing I read lately: "In retail, much of success and failure is based on solving for the right problems first, not your ability to solve problems. It’s solving for the right ones in the right priority." Dustin Jones, Unified Commerce Group’s CEO. Unified, with three brands, over 30 stores, and 200+ wholesale partners, operates on a unique model. The company's hub offers operational, tech, and support services, creating a strong foundation for its brands. This approach is designed to grow stronger with each new brand addition. The operational hub serves as a playbook, enhancing resources like backend support, sales cycle, and more. It's a strategic move to acquire DTC companies and provide them with the context they need to thrive. .#UnifiedCommerceGroup #Retail #Brands #WholesalePartner

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US jewelry sales remained flat in August following a period of growth in July, according to Tenoris. Retailers have seen a surge in inventories recently, particularly in lab-grown jewelry, indicating potential challenges ahead. Natural diamond jewelry sales decreased by 3% year over year, while lab-grown jewelry sales saw a 10% increase despite a 17% decline in average price. This trend warrants attention as it may signify underlying market shifts. Read more: https://lnkd.in/dAPvmDZC

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Here are some interesting stories from the world of retail for Wednesday, November 27: 🏈 Dick's raised its full-year guidance on Tuesday after what CEO Lauren Hobart called an excellent back-to-school shopping season and better-than-expected comparable sales for its third quarter. 👕 Abercrombie & Fitch Co. reported its sixth consecutive quarter of double-digit gains, positioning the retailer for a healthy holiday season ahead. Net sales rose 14 percent to $1.2 billion from $1.06 billion in the year-ago quarter. 📺 Best Buy has cut its full-year sales forecast and missed Wall Street’s quarterly revenue expectations, as early holiday shopping and a fresh batch of iPhones and AI-enabled laptops weren’t enough to drive higher sales. 🏬 Kohl's shares fell sharply on Tuesday after the company's earnings missed Wall Street estimates and following its announcement that CEO Tom Kingsbury will step down in January. 🧥 Burlington Stores, Inc. posted higher sales in the latest quarter and said the holiday selling season has started strong, as the off-price retailer’s offerings resonate with consumers looking for deals. 🛍️ Nordstrom on Tuesday offered up a slightly more optimistic full-year sales forecast, but said there was a noticeable decline in sales trends at the end of last month. 👚 Urban Outfitters has said it doesn’t have to discount as aggressively, amid holiday-season optimism. In the latest quarter, revenue rose 6.3% to $1.36 billion, while same-store sales rose 1.5%. 📈 Economists are concerned that President-elect Trump's proposed blanket tariffs on imports would drive up food prices. Tariffs would not only impact food imports but would also push up costs for fertilizer and farm equipment. 👖 Guess trimmed its guidance for the year after swinging to a loss in its fiscal third quarter, citing slowed traffic at its stores in Asia and North America. Shares fell 10%, to $15.52, in after-hours trading. 🥦 Workers at a Whole Foods Market store in Philadelphia, Pennsylvania, have filed to hold a union election, the first union filing at the supermarket chain since Amazon acquired it in 2017. 🍊 Orange juice prices have surged close to record highs after Florida was hit by hurricanes. A future contract for a pound of frozen orange juice concentrate currently trades for $5.13, compared to $1.20 in 2021. 📦 More than one-in-10 Americans reported experiencing package theft in the past year. Among these victims, 28% encountered theft during Black Friday shopping and 11% on Cyber Monday. 👍🏼 Americans continue to feel more upbeat about the outlook for the economy. The latest reading from the Conference Board was 111.7 in November, above the 109.6 seen in October and the highest level in more than a year. 🥖 Subway announced Tuesday that its CEO, John Chidsey, will retire at the end of 2024. Executive Carrie Walsh will replace him as interim CEO. #retail #retailnews #economy #DailyRetailNews

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A small 1.3% rise in sales at US jewelers in April. The increase in revenue was fully spurred by a 2.5% increase in the average consumer expenditure per unit purchased. A few of the figures: Natural diamond jewelry sales rose 1%, Prices of LGD-set DERs declined, Loose LGD was 57% of loose diamond sales, but just 25% of revenue. Here is an issue: LG prices are down, but gross margins and unit sales are up. What does it impact gross profits? We took a look at that and have some findings. https://lnkd.in/dDw4s8MQ

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Well this just got interesting 🤔 A few thoughts: 🔸Luxury sales are declining. What could this mean for the future of luxury and DTC? 🔸 What will this mean for Saks 🇨🇦 that has seen a significant drop in sales, footfall and relevance. 🔸 Will Hudson's Bay Company finally be divested and sold off? 🔸 Will Amazon’s success have any impact on improving Saks and NM operations/supply chain? 🔸 How will buying power be impacted in merchandising? 🔸 Will any functions or teams be combined since many brands across stores overlap? 🔸 Salesforce also threw in some cash to assist in the adoption of AI. Saks Fifth Avenue Neiman Marcus Group Amazon Suzanne Kapner Lauren Thomas The Wall Street Journal Salesforce #retail #retailnews #fashion #luxury #stores #departmentstores

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Here are some interesting stories from the world of retail for Thursday, May 30: 👖 Shares of Abercrombie & Fitch Co. continued their record run after the apparel retailer reported another quarterly earnings beat and raised its sales growth outlook, amid continued strength in the Abercrombie brand. 🏀 DICK'S Sporting Goods kicked off the year with net sales of more than $3 billion in Q1, an increase of 6.2%. Comparable sales in the quarter grew 5.3%, on top of 3.6% growth the year prior. 🦅 American Eagle said it’s making gains in boosting profitability as it works to improve its product assortment and tweak operations. Still, its fiscal first-quarter sales came in weaker than Wall Street expected. 🐹 Chewy smashed earnings estimates for its fiscal first quarter on Wednesday, announced its first share buyback program and signaled a recovering pet market. 🌳 Dollar Tree Stores announced it has acquired leases for 170 of 99 Cents Only Stores stores out of bankruptcy in Arizona, California, Nevada and Texas. Dollar Tree will reopen these stores with its own products under its brand. 🥾 Dr. Martens plc has announced a swathe of cost-cutting plans, after the bootmaker’s bottom line was hit by plummeting demand in the US last year. The London-listed firm hopes to save up to £25m in the coming financial year. 🏥 Walgreens said it will slash prices on 1,300 items across its drugstores — the latest big retailer to enact discounts as consumers grow increasingly picky about where they shop in an era of stubbornly high inflation. 🐶 Petco names a new chief stores officer as the COO exits. The pet retailer said it eliminated its chief merchandising and supply chain officer role and named five people to its executive leadership team. 👟Italian luxury sneaker brand Golden Goose, which was valued at €1.3bn when acquired by Perimia in 2020, said on Thursday it aims to list on Milan's Euronext next month. 💵 Cash register outages and internal system failures at Walmart have led to widespread mispricing, with customers being overcharged for certain items. The technical issues on March 19th affected 1,600 stores. 🌭 Americans are now prepared to spend nearly $6 for a hot dog. The summertime classic has climbed in price by 7.1% during the past year, according to the latest government figures. 🍔 A top McDonald's executive on Wednesday decried poorly sourced reports that the fast-food giant has hiked its prices faster than inflation. He also noted that an $18 Big Mac meal is exception not the rule. 💳 Visa and Mastercard have agreed to pay $197m to resolve a class action by millions of consumers accusing the financial payment companies of keeping cash access fees artificially high. 🍪 Subway’s footlong cookie is back. Following a four-month long disappearance, Subway announced Wednesday the “triumphant return” of the oversized chocolate chip cookie. #retail #retailnews #economy #DailyRetailNews

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The average return rate for online apparel stores stands at 24.4%.

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Today's The Robin Report "undresses" the denim trends & consumers behaviors toward them... (so no more pinch rolled levi's? 😉 ) Takeaway: Retailers that have direct, conversational interactions with consumers and manufacturers will be better positioned to produce what consumers want. Read and Subscribe to get real opinions, insights & more delivered every day. ➡️ https://lnkd.in/eAkYa73Z

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'A diamond in the rough' takes on new meaning in the precious diamond business. While it technically describes uncut diamonds, the idea of uncovering hidden value applies far more to colored diamonds. Colored diamonds are a subsection of our industry that has incredible room for growth. For me, I love to delve deep into their diverse values and strengths, showcasing those that resonate with sophistication and elegance. Colored diamonds open up a world of creative potential in jewelry craft.

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This week in retail: Members of the founding family of Nordstrom are considering a bid to take the company private, the FTC is expected to sue to block the $8.5bn proposed merger of Tapestry and Capri Holdings, U.S. retail sales exceed forecasts, and S&P Global upgrades Michaels' corporate credit rating to B- from CCC+. The Wall Street Journal: Nordstrom Family Weighing Taking Retailer Private 🏬 Nordstrom announced it has formed a special committee of independent and disinterested directors to evaluate proposals, following members of the founding family of Nordstrom informing the company’s Board of Directors that they are interested in exploring a deal to take the company private https://lnkd.in/eQdgKA_g Chain Store Age: FTC May Block Sale of Michael Kors Parent to Coach Parent Tapestry 👗The Federal Trade Commission (FTC) is expected to sue to block the $8.5bn proposed merger of Tapestry and Capri Holdings Limited, according to people familiar with the matter https://lnkd.in/etJUrYGU Bloomberg: U.S. Retail Sales Top Forecasts as Consumers Keep Fueling Growth 🛍 Total U.S. retail sales increased 4.0% YoY to $709.6bn in March 2024, showcasing resilient consumer demand https://lnkd.in/eXvMyXid S&P Global: Michaels Upgraded to 'B-' From 'CCC+’ 🎨S&P Global Ratings upgraded Michaels Stores corporate credit rating to B- from CCC+, citing the retailers improvement in operating margin and cash generation in FY’23 https://lnkd.in/ehvFvxhB

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𝗪𝗵𝘆 "𝗟𝗲𝘀𝘀 𝗶𝘀 𝗠𝗼𝗿𝗲" 𝗶𝗻 𝘁𝗵𝗲 𝗪𝗼𝗿𝗹𝗱 𝗼𝗳 𝗝𝗲𝘄𝗲𝗹𝗿𝘆 𝗥𝗲𝘁𝗮𝗶𝗹 By Chirag Jain, CEO, Chandra Jewels Gone are the days of overflowing display cases and overwhelming choices. Savvy jewelry retailers are embracing a new philosophy: less is more. This strategic shift prioritizes quality over quantity in more ways than one. ⟡ 𝗦𝗵𝗶𝗳𝘁 𝗳𝗿𝗼𝗺 𝗩𝗼𝗹𝘂𝗺𝗲 𝘁𝗼 𝗩𝗮𝗹𝘂𝗲 While a smaller diamond inventory might seem counterintuitive, focusing on quality pieces can actually streamline operations. Managing a smaller collection reduces costs and simplifies logistics, while higher profit margins per piece boost revenue. ⟡ 𝗙𝗼𝗰𝘂𝘀𝘀𝗲𝗱 𝗦𝗵𝗼𝗽𝗽𝗶𝗻𝗴 𝗘𝘅𝗽𝗲𝗿𝗶𝗲𝗻𝗰𝗲 By offering fewer, high-quality items, stores can create a focused shopping experience. This avoids decision fatigue and allows salespeople to provide personalized recommendations. Intimate consultations replaces frantic browsing. ⟡ 𝗛𝗶𝗴𝗵𝗹𝗶𝗴𝗵𝘁 𝘁𝗵𝗲 𝗘𝘅𝗽𝗲𝗿𝘁𝗶𝘀𝗲 Highlighting the artistry behind each piece adds value and attracts customers who appreciate quality design. Don't just sell jewelry, sell a story and an experience. ⟡ 𝗕𝘂𝗶𝗹𝗱 𝗧𝗿𝘂𝘀𝘁 𝘄𝗶𝘁𝗵 𝗘𝘅𝗰𝗲𝗽𝘁𝗶𝗼𝗻𝗮𝗹 𝗤𝘂𝗮𝗹𝗶𝘁𝘆 A well-made, exceptional piece of jewelry speaks volumes about your commitment to quality. The sales staff educate customers  about the how’s and why’s of the jewelry. These empowered choices result in confident purchases. ⟡ 𝗦𝘁𝗼𝗿𝘆𝘁𝗲𝗹𝗹𝗶𝗻𝗴 𝗮𝗻𝗱 𝗦𝗮𝗹𝗲𝘀 Picture a vintage locket with tales of family history or a modern pendant featuring a breath-taking diamond, symbolizing the unyielding fire of love. A focussed collection allows each piece to transform from generic adornment to a meaningful purchase. ⟡ 𝗦𝘁𝗮𝗿𝘁 𝘆𝗼𝘂𝗿 𝗕𝗿𝗮𝗻𝗱𝗶𝗻𝗴 𝗝𝗼𝘂𝗿𝗻𝗲𝘆 Meaningful, high -quality jewelry uplifts your brand image. You become a custodian of luxury, craftsmanship, and selective design. This not only attracts discerning clientele but also increases brand value. 𝗧𝗼 𝗥𝗲-𝗰𝗮𝗽 let the design take center stage. Market your unique diamonds, highlighting the process that ignites their fire. Tell the story - origin, design, artistry. This engages the customers and improves their buying experience. In today's market, "less is more" goes beyond inventory. It elevates the experience, builds trust, and positions you as a leader in quality and thoughtful collections. A curated approach leads to a thriving, sustainable brand. 𝗟𝗲𝘁'𝘀 𝗰𝗼𝗻𝗻𝗲𝗰𝘁 𝗮𝗻𝗱 𝗱𝗶𝘀𝗰𝘂𝘀𝘀 𝗵𝗼𝘄 𝗮 𝗹𝗶𝗺𝗶𝘁𝗲𝗱 𝗷𝗲𝘄𝗲𝗹𝗿𝘆 𝗶𝗻𝘃𝗲𝗻𝘁𝗼𝗿𝘆 𝗵𝗮𝘀 𝗹𝗶𝗺𝗶𝘁𝗹𝗲𝘀𝘀 𝗽𝗼𝘀𝘀𝗶𝗯𝗶𝗹𝗶𝘁𝗶𝗲𝘀 𝘁𝗼 𝘁𝗿𝗮𝗻𝘀𝗳𝗼𝗿𝗺 𝘆𝗼𝘂𝗿 𝗯𝘂𝘀𝗶𝗻𝗲𝘀𝘀! #Why_LessisMore_inthe_WorldofJewelryRetail #chandrajewels #diamondjewelrymanufacturer #jewelryretail #luxuryretail #diamondjewelry

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According to GlobalData, the U.S. secondhand apparel market grew 11%, or seven times faster than the broader retail apparel market, to $43 billion last year. The report estimates that resale sales online and at traditional thrift stores could reach $73 billion by 2028. #resale #retail #apparel #retailsales

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Many thanks to Jake Garner for reposting the latest data from Edahn Golan. I am a bit confused but based on the presentation that was made by Edahn’s partner at the AGS enclave I got the impression that while demand for LGD may have slowed there is no data saying these natural diamonds are re-gaining lost market share. Perhaps Edahn Golan or Chris Casey can clarify what the numbers are showing. There is no disagreement that LGD prices continue to decline at the wholesale level but from anecdotal comments from retailers offering LGD, the margin is still good. Not surprisingly the anti-LGD contingent is sounding the death knoll for LGD but the early death of LGD may be over exaggerated. I believe that LGD constitute only about 10 % of Signets turnover whereas some independents have LGD make up over 50 percent of their turnover. I agree that LGD may not be growing as fast but I am not sure the bridal business is going back to natural - yet. It may happen. LGD domestic demand is very brisk in India from my sources. China may be slowing down on gold very recently but it is not buying naturals or LGD. Edahn Golan I am aware of your pessimism on where LGD is heading and I don’t disagree but can you share what the Tenoris data is showing ? Should we get a funeral home and find a Church to bury LGD ?

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Excellent article on how US apparel brands and retailers are diversifying their source base. The July import figures from the US Office of Textiles and Apparel indicate a shift in sourcing strategies among US apparel brands and retailers post-Covid, emphasizing diversification rather than reliance on a single supplier. Overall apparel shipments to the US increased by 7% year-on-year, reaching 2.5 billion square meter equivalents (SME). China remains the largest supplier, with a 9.2% increase in shipments to 1.1 billion SME, while Vietnam, the second largest, saw a 4.7% increase to 385 million SME. Bangladesh, the third largest supplier, experienced a decline of 2.2% in shipments to 217 million SME, attributed to ongoing unrest and worker protests for better wages. The instability in Bangladesh has raised concerns about its competitiveness as a sourcing destination, with alternatives readily available in nearby Asian countries. Cambodia recorded a significant increase of 19.4% in shipments to 112 million SME, while Honduras led Central American suppliers with a 20.3% increase to 73 million SME. Year-to-date figures show mixed results, with overall US apparel imports up by 1.4%, while Bangladesh's shipments decreased by 4.6%. Despite a post-Covid shakeup, China has regained a significant share of the US apparel market, accounting for 24.6% of the value and 41.4% of the quantity of US apparel imports in July 2024. The average price per unit for Chinese apparel has decreased most, making it the most cost-effective option among the top suppliers, although the focus is shifting towards supply chain diversification and nearshoring. The data suggests that while US companies are not reversing their de-risking efforts, China's resilience as a supplier remains strong due to its production efficiency and supply chain capabilities. #usapparels #usretail #supplierdiversification #supplychainrisk

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Retail Today / Retail Renaissance: Is it possible to keep up with the fast paced Apparel Industry? The Atlantic Business Magazine takes a hard look at SHEIN! #SHIEN SHEIN: Why is it so cheap? What are they hiding? Estimated profits $2 Billion Dollars! #lowprices #cheap With over 1.5 SKU’s, it’s fast and cheap. Prices running between 40-60% lower than competitors. #fastfashion How U.S. trade laws support SHEIN, an open invitation to destroy our retail brands, using “de miniimis clause”, creating a “Duty-Free” environment. ☠️ #enviroment #tradelaws #substainabilty Why are they so secretive about labor practices? Is it forced labor? #labor Also I have attached a CNBC report, on Amazon in 2023, The Top Apparel/Footwear Retailer. Estimated at $68 Billion Dollars in sales. #amazon #target #costco #tjx #gap #ross #walmart If that’s not enough to make your head spin, follow Joanna Williams. How the new creator economy is upending everything! 💥💥💥 Joanna Williams #fashion #style #design #color #retail #retailtrends #retailindustry #apparelindustry #ecommerce #shoppingexperience #TopRetailExpert

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Here are some interesting stories from the world of retail for Tuesday, May 7: 🛋️ Shares of Beyond, Inc. — the parent of Overstock and Bed Bath & Beyond — fell after it reported a deeper-than-expected loss and said it was trying to draw more committed customers amid weak home-goods demand. 🚛 Kohl's’s is now offering same-day delivery via the Instacart app. Using Instacart, customers can place orders for same-day or scheduled delivery from 1,172 Kohl’s locations nationwide. 🎯 Target is expanding its partnership with Hudson's Bay in Canada, broadening the sales of its in-house Cat & Jack children's brand to include swimwear, outerwear, and shoes. The move comes after positive feedback. 🚚 Wholesale remains most profitable investment channel for brands. The channel, which is expected to grow 51% this year, accounts for about 60% of companies’ total sales. 🏬 A fourth Bloomie’s location is set to open in New Jersey this fall, part of the parent company Macy's ongoing strategy to tap into more luxury sales with a new small format strategy. 👷🏼‍♂️ Kroger is planning to spend approximately $45 million in 2024 to remodel 15 stores in Ohio and Indiana. Kroger is highlighting investments in its stores as it presses ahead with the Albertsons merger. 🍓ALDI USA, the American arm of the German-owned discount supermarket chain, has urged its suppliers to cut costs, increase production, and focus on sustainability to stay competitive. ⬇️ More than four-in-five consumer respondents (81%) have noticed shrinkflation, with three-in-10 (29%) having seen it very often since 2020 - according to a survey by Clarify Capital. 💄 Amazon said Monday that its Summer Beauty Haul event is returning next week. Amazon noted the sales promotion starts at 12am PST on May 13 and runs through 11:59pm PST on May 19. 🥩 Shares of meatpacking giant Tyson Foods plunged more than 9% — the stock’s worst day since August — after the company said persistent inflation weakened consumer appetites for meat biting into profits in the second quarter. 🍺 The European boss of Budweiser has said the brewer has learned to “stay in our lane” following a backlash over Bud Light’s work with a transgender influencer. 🧴 Chinese-made skincare brands, such as Skintific, have gained popularity in Muslim-dominated markets like Indonesia and Malaysia. These brands downplay their origins and present themselves as local products. 🇦🇺 Australian supermarkets found to be overcharging customers could face criminal penalties if the government adopts the findings of a new review. #retail #retailnews #economy #DailyRetailNews

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A client blames the vendor, and the vendor blames the client. What should the retailer do? 🤔 Each month, I share real-world scenarios and solutions to help you navigate the challenges of the jewelry industry. Check out my latest contribution to INSTORE Magazine’s Real Deal column. ✨ What would you do in this case? https://ow.ly/htkz50TF8bx #JewelryRetailers #diamonds #MeganTellsAll

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The art and science of personalized shopping have always been a key feature at www.atomi.shop, and we do not let LLM or gAI determine your shopping experience, as you are not just a statistic. https://lnkd.in/g9GNBuZa #andrewtanatomisingapore #theatomiway #retailguru #theentrepreneurialmindset #atomi

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