Konrad Duchek

"It’s about extending our ability to find incredible brands we believe our customers will love and introducing them to those brands at a bigger scale, without the cost of a #wholesale model.” A lot to applaud in Nordstrom's #marketplace launch (#TLDR their vision is to become "The Spotify of #Fashion") ... enabling broader, deeper assortments; building out extended sizes; making marketplace items accessible to in-store #stylists; offering tailoring and alterations; and perhaps most importantly, allowing in-store #returns for marketplace purchases. In addition, I think they should use this as an opportunity to extend beyond "#gifting, #home, and #outdoor" and build share of wallet across a broader range of products and services. For some retailers, a marketplace is a chance to try and become #TheEverythingStore. For most, however, it's an opportunity to curate a range of goods and services that are tailored to your target customer(s), without the requisite costs of setting up #fullstack teams., processes, and #OTB to support. https://lnkd.in/g9aR6sjE

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Aloha Friday 🤙🏼 Here are some interesting stories from the world of retail for Friday, May 31: 👖 Gap shares rallied more than 20% in the extended session Thursday after the retailer reported first-quarter earnings and sales well above investors’ expectations, raised its guidance for the year and pared down its inventory. 🏬 Kohl's shares plunged as much as 25% on Thursday after the retailer reported a surprise first-quarter loss and lowered its forecast for the year. The department store chain saw a 5.3% drop in net sales. 🥫 Costco Wholesale reported fiscal third-quarter profit, revenue and same-store sales that all beat Wall Street forecasts, but shares of the membership-based warehouse retailer pulled back from a record high. 💄 Ulta Beauty earnings that showed the effects of a slowdown its CEO had previously warned about. Comparable sales increased 1.6% year over year, a stark slowdown from the same period a year earlier. 👗 Nordstrom shares fell 5.6% in extended trading Thursday after the company reported a wider-than-expected first-quarter loss of $39 million, although revenue topped analysts’ estimates. 📺 Best Buy has reported the 10th straight quarter of same-store sales declines, a reported 6.1% drop for February, March and April. Its total revenue of $8.85 billion was a little lower than Wall Street anticipated. 👟 Foot Locker’s turnaround is starting to bear some fruit.  The sneaker giant saw comparable sales decline 1.8% during its fiscal first quarter, far better than the 3.1% drop-off that analysts expected. 💵 Dollar General reported better-than-expected profit, sales and same-store sales for its first-quarter as more customers shopped its stores for groceries and other essentials. 🥡 Amazon customers in the US can now order takeaway deliveries from Grubhub without leaving the tech giant’s app. The deal is part of a deepening relationship between the tech giant and Grubhub. 🚫 Illinois set to end grocery tax. Legislators have approved a state budget for 2025 that eliminates the 1% tax, paving the way for Governor JB Pritzker to sign it into law. 👓 Innovative Eyewear has released an Eddie Bauer Smart Eyewear collection. The collection includes four styles and features voice access to ChatGPT. The glasses have built-in Bluetooth microphones and speakers for music and calls. 🥖 Subway, the restaurant chain with the most locations in the US, has sold $3.35 billion of asset-backed bonds to help fund its buyout by Roark Capital Group, in what is the largest securitization of its kind on record. 📦 The Federal Aviation Administration (FAA)is giving Prime Air additional permissions that allow it to operate drones for more deliveries in a wider area. 🇫🇷 Pharmacists in France have gone on strike for the first time in a decade, closing around 90% of pharmacies across the country. #retail #retailnews #economy #DailyRetailNews

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#HotTake: Retail stores aren’t a shortcut to success. Retail offers bigger POs, visibility, and cash flow Yet, it doesn’t ensure brand sustainability Case in point: JLo Beauty Despite celeb status and prime placement at Sephora, She faced challenges resulting in a US exit Retail alone doesn’t secure loyalty or repeat sales Placement isn’t guaranteed forever For lasting success, think beyond the retail PO Some markers of a sustainable brand include: Authenticity, community, differentiated formulas, and true fans Building a lasting brand legacy requires more than a retail presence – 👋🏾 Hi, I’m Monique, a former retail buyer turned beauty industry advisor who helps emerging brands ready to scale at big retail. If you are ready to scale and invest, book a discovery call, and let’s see if we can work together.

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Since 2019, Kohl's sales have shrunk by $2.3 billion. That’s a pretty terrible number given consumer spending on retail rose by a dramatic $1.3 trillion over the same period.     The Kohl’s losses are a combination of existing customers spending less and the complete defection of some shoppers. Over the past five years, Kohl’s has lost 1.3 million customers: people who used to visit Kohl’s, but now they don’t. Most of these folks still buy things so it’s interesting to see where they’re now shopping, or shopping more at, instead of Kohl’s. The diagram below traces the defections. The most notable thing is the gains being made by off-price retailers. TJX – with its TJMaxx, Marshalls, and HomeGoods banners – is picking up a lot of trade. Ross, Nordstrom Rack, and Burlington are also in the mix. It’s no wonder off-price is doing so well when it’s gaining so many customers from chains like Kohl’s. What’s also notable is that online specialists don’t dominate. Amazon has picked up some trade, as has Wayfair, but neither are the main beneficiaries of Kohl’s woes. This underscores that the very simplistic narrative of ‘online killed…” is often far from the truth. It is also significant that Costco makes an appearance. Costco is a silent assassin. Many retailers don’t have it on the radar for non-food; but the reality is that Costco has a formidable non-food business. Retailers like Kohl’s don’t underperform because one large enemy comes in and swoops away all the custom. Their substantial loss of trade comes from many players nibbling away at their sales and market share. #retail #retailnews #departmentstores #wholesale #shoppers

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The state of the Industry has obviously changed post pandemic. So has the demographic of toy consumers. 3 years ago when I entered the toy space, I not only heard No like it was going out of style, or had companies pretend to be interested in working with me while pilfering my ideas to apply to their products already on the market, yes you read that right, but I kept being told I had to have an outrageous following before they'd have a conversation. Do I agree that manufacturing is expensive? Absolutely. Do I think that a brand owner should have done the work necessary to establish their brand? You bet! Do I think you need 10s of thousands of followers on socials to have a successful brand? Heck No! I feel like this ideal is archaic. I say this as someone who had over 500 followers on fb during our first plush launch and sold 1,500 of the 2,000 made thru just that dtc sales channel. No paid marketing. No mass market exposure and less followers than units sold. Because I have experienced this first hand is why as I launch a new business venture I have the confidence to work with new AND established brands. Im confident in my decades of experience and knowledge in this area. We all start somewhere. And just because the audience for the Mattels of the world today, were not present when they started, these magnates also experienced the same thing all us noobs are now. Do not let those who will never be invested or have interest in your brand, make you think you're not enough. Show them who you are and watch your brand grow!

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🚀 Big News Alert: Saks Buys Neiman Marcus with a Boost from Amazon! 🚀 Hey everyone! Just had to share this HUGE update in the luxury retail world. Saks Fifth Avenue’s parent company is dropping $2.65 billion to scoop up Neiman Marcus, and guess what? Amazon’s in on the action, bringing their tech and logistics game. 🛍️✨ Here’s the Tea: • Power Move: Merging two luxury legends to create a mega retail powerhouse. • Tech Boost: With Amazon on board, expect next-level tech integration for a seamless shopping experience, both online and offline. • Big Bucks: Financed by top-tier investors like Rhône Capital and the Abu Dhabi Investment Council, plus $1.15 billion in debt from Apollo Global Management. • Market Shakeup: The new combo will hit around $10 billion in annual sales, giving them major leverage with suppliers and streamlining costs. Why It’s a Big Deal: This merger shows how vital tech and partnerships are in today’s retail scene. It’s proof that luxury retail is evolving and adapting, even when times are tough. For investors, this move is a clear sign of confidence in the luxury sector’s future and the potential for new opportunities. Big things are coming, and I am excited to be part of this evolving industry. Stay tuned for more updates as we keep pushing the boundaries in luxury retail!

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Highlights from last week's NYC #RetailSafari -- focus was the intersection of #technology, #customers, and #operations, primarily in specialty apparel and fashion. Key themes: 1. Technology goes backstage – Brand new formats / concepts at H&M, Banana Republic, Zara, AMERICAN EAGLE OUTFITTERS INC., lululemon, and J.Crew and none come across as tech-forward w/ regard to customers. On the other hand, associates were all mobile enabled and doing most of their work leveraging phones / tablets. 2. Old tech; new tricks – Widespread use of #RFID and #QR codes (both generally on the price ticket), with a mix of internal and external use cases -- self-checkout, RFID-assisted full-service checkout, inventory counts, inventory finding, #BOPIS, etc. 3. Apps are an entry point – #Retailers without a clienteling / selling culture are using apps to drive customer capture. #Lulu uses app-based membership to enable exchanges on sale items; UNIQLO offers special discounts to app members. 4. Unified is still a unicorn – Despite a decade of focus on #omnichannel and unified commerce, many gaps exist. Very few #retail apps recognize when you’re in store, send a notification, and/or assist in the shopping experience. Many didn’t even have their newest stores listed as an option for #BOPIS (despite in-store signage).  5. Video is the new visual – ultra-large format (8-10ft x 12-16ft) video screens were a common feature of many new stores, and really helped to bring the brand lifestyle to life.  6. It’s hard to (re)teach people how to shop – Across all stores except Bonobos, Glossier, Inc., and Reformation, the shopping process is the same as it’s been for the past 50+ years. The ones that don't are focused on a niche customer with a unique product offering. IMO, the product is the driver and consumers "accept" the experience. 7. The "future" is not here yet, but you can start to see the shape of it – Demoing the Apple #VisionPro, we could think of multiple use cases (mostly internal / operational), and while it’s too early (and too expensive) to fully commit, it’s certainly worth considering a pilot as part of an #innovation lab. It's also worth noting there was no apparent use of #AI by customers or associates. Curious to hear comments, feedback from other markets. #ibmretail

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👟🌟 Exciting insights! Dive into the latest findings from the 2024 Spring U.S. Footwear Consumer Survey by AlixPartners & Footwear Distributors and Retailers of America (FDRA), showing a strong shift towards athletic shoes this season. As consumers prioritize branded stores and seek out promotional deals, the landscape of footwear spending is evolving dramatically. Discover how these trends are reshaping the industry and what it means for your brand. Full details in this insightful article by my colleagues Ryan Poole and Bryan Eshelman! #FootwearTrends #ConsumerBehavior #RetailInsights #AlixPartners #WhenItReallyMatters https://lnkd.in/evaHipdA

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🧟‍♀️ It struck me that Modern Retail’s recent article on DTC Zombies references two brands (Feat and Outdoor Voices) situated within the athleisure apparel space. Just as retailers anticipated a permanent shift from in-store shopping to e-commerce after the pandemic it was expected everyone would continue wearing athleisure at the same frequency after lockdowns. 📈 Projecting market demand for athleisure is challenging because it sits in the in-between spaces. Athleisure blurs traditional clothing lines, raising questions: Are hoodies and sweatpants athleisure? What about t-shirts? Is loungewear indoor athleisure or a separate category? Is “Bad Sandy” wearing a leather jacket and leggings at the end of “Grease” athleisure? The definition is fluid, influenced more by styling and usage than by distinct categories. 👗 While many women still wear yoga pants beyond the mat, there’s also a resurgence in tailored bottoms, exemplified by Aritzia’s wide-leg trousers. Dresses and skirts have made a comeback with a return to more careerwear and occasion dressing. Women consumers are embracing a post-pandemic wardrobe era with more distinctive outfitting propositions than 4 years ago. 🧘🏻‍♀️Of the upstart DTC brands described as athleisure in recent years, only Alo Yoga is the major competitive threat to Lulu’s women’s business. Not even Nike or adidas have been able to pull that off with apparel, though they have tried. Alo is smaller in volume than Lulu, but growing 30% YoY with a higher proportion of women’s consumers. Gap Inc. has also successfully evolved Athleta from a catalog business (old-school DTC) into a growing omnichannel concept that exclusively serves women and girls. 🏃🏾‍♀️Lululemon may have popularized leggings as casual wear, but it remains rooted in its athletic heritage, evident in its partnerships with Team Canada at the Olympics. Alo Yoga and Athleta’s very names indicate that activewear is the core of their brand. The latter has even attracted high-profile former Nike athletes Allyson Felix and Simone Biles as brand partners. 🎽 While at first glance DTC athleisure may be seen as a fading opportunity, Lulu Lemon, Alo Yoga, and Athleta are all DTC brands leading in the space. This would suggest that winning in DTC athleisure is less about positioning a brand in the in-between spaces but rather winning with women’s performance apparel. #merchandising #sportswear #athleisure #trends #DTC #fashion

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ICYMI ... here are retail things we have been discussing this week on LinkedIn: 🎧 What is the Saks Fifth Avenue and Neiman Marcus Group merger really all about? Find out more in this great podcast abut the potential deal: https://bit.ly/4dlskpQ 🏬 Saks in San Francisco requires all shoppers make an appointment. It may prevent crime and help to scale down staffing, but will it wash with shoppers?  https://bit.ly/3WlKGzZ 🍝 Eataly is a store where passion for food shines through with brilliant product curation - but how can these lessons be applied in mainstream retail? https://bit.ly/3YEmUCf 🎯 There are increasing pressures on shop-floor staff at Target. This is contributing to a decline in standards and is impacting perceptions: https://bit.ly/4fp57Vh 🛋️ Overstock buying Bed Bath & Beyond made some sense. Scrapping the Overstock name and bringing it under the new brand did not: https://bit.ly/4fmBa8n 👙 The new Victoria’s Secret store format is lighter, brighter and more engaging - but is it enough to turnaround the brand’s fortunes? https://bit.ly/4dgSWrH 👩🏽‍⚖️ Italian authorities will investigate Dior and Armani for their commercial practices, putting luxury firms on notice that they're not above regulations: https://bit.ly/4fhDgX3 🎓 The back to school season has started earlier than ever, and consumers are moderating spend in some categories. What are the prospects for retailers?  https://bit.ly/3Ykloom 👖 Hollister has been in the shadow of Abercrombie & Fitch this year, but the brand may make an outsized contribution to growth in the years ahead: https://bit.ly/3LFLRoP 🚫 Conn’s filed for Chapter 11 bankruptcy and will close all of its stores. Is this down to the market or internal stumbles? https://bit.ly/4cT3XQi 💵 Target’s new Dealworthy brand has been expanded into apparel. But is it really good value and will it help with customer retention efforts? https://bit.ly/4djNtQS 💎 Japanese luxury is booming, but all is not as it seems - growth is being driven by bargain hunting Chinese consumers who are not spending at home: https://bit.ly/3YlM3Bf 🗳️ The election is looming. What impact does the election itself have on spending and what will a new administration mean for retail?  https://bit.ly/3Ssm9rL 🇮🇹 Made in Italy is often seen as a marker of quality, has that position been undermined as brands pulled up for the mistreatment of workers?  https://bit.ly/3ydBvcW #retail #retailnews #economy #ICYMI #RetailICYMI

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Buyers are the original trend forecasters. Tasked with going to shows and ‘re-sees’ to pick out the pieces they expect to be hits with consumers, part of the job is to anticipate what people will want to buy months before shoppers are able to hit purchase. (Or, at least weeks before pre-order.) Buyers, at their best, curate a compelling selection customers can’t find anywhere else. So what role should data play? This week, trend forecasting agency WGSN launched the Fashion Buying platform, a data-driven hub that collates intelligence and forecasting, combined with WGSN’s TrendCurve AI predictive analytics (which it has been developing for three years now). The platform aims to assist buyers across the pre-planning, development and in-season hindsight phases. WGSN’s artificial intelligence prediction tool pulls e-commerce data, which it’s found to be the best predictor of trends, alongside catwalk data and a search and social index. The output of the model is the percentage of the assortment that item or category should represent, forecasted up to two years ahead, explains Francesca Muston, VP of fashion at WGSN. Aside from general trends, colour and materials tracking, the platform also offers a ‘TikTok Trading’ section, devised to help buyers identify opportunities for remerchandising existing inventory to tap emerging TikTok trends quickly. For retailers who have been grappling with how to navigate such trends, the offering bodes well. The Fashion Buying platform is the latest in a line of tech that looks to refine trend prediction in the new age. Stitch Fix, for example, uses AI to predict trends, which its internal merchandising team uses to inform which items to send which clients.

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Hello Retail Friends, I am pleased to announce the release of our latest Pricing and Promotions research report, developed with Incisiv. This report, surveying 179 retail executives across the US and EMEA, will be presented at Groceryshop in Las Vegas this week - be sure to come see us at booth #A610 to learn more.    Key findings include:   🔹 93% of shoppers demand more value: With 84% citing price as critical, 87% of retailers have adopted aggressive discounting strategies to sustain sales and loyalty.   🔹 $1 trillion in sales driven by promotions in 2023: Amid economic uncertainty, promotions are essential. 87% of retailers plan to maintain or increase promotional efforts in 2024.   🔹 Low adoption of advanced analytics: Only 12% of retailers use real-time data, advanced algorithms, and AI, impacting their agility.   🔹 Critical challenges in data quality and integration: Effective promotional strategies require accurate, unified data, yet cultural resistance also hinders progress.   🔹 Reliance on outdated systems: 37% of retailers still use spreadsheets, lacking the agility needed for dynamic market conditions.   The report highlights the need for integrated pricing and promotional capabilities. By leveraging advanced technology, retailers could achieve an additional $450 billion in incremental sales.   I encourage industry leaders to explore this report for strategic insights to drive growth and innovation.   #RetailLeadership #PricingStrategy #Promotions #MarketResearch #RetailInnovation #Groceryshop #GroceryForum #RELEXSolutions   https://lnkd.in/eSjYKxqC

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The luxury market is the fastest growing segment in retail with estimated growth rate over next 5 years at 40%. If it’s going to happen the store nameplate’s should have 2 distinct strategies. Perhaps one store focuses on the young consumer and puts in the best technology shops in the world. Puts in cool younger brands and do collaborations with brands for elevated product from Champion, Nike & Addidas. Walk into Kith specialty store - thats what’s needed. Make 30% of the store sustainable product including an incredible pet shop store with only organic food and sustainable toys. Same for kids only sustainable clothes and toys. This would re-invent one of the stores completely and make relevant for younger consumers to get off their phones and get into their cars. And, the other more traditionally luxury more like Begdorf. I would put Linda Fargo over brand/.-assortment strategy. The North America Luxury Goods Market size is estimated at USD 103.10 billion in 2024, and is expected to reach USD 145.08 billion by 2029, growing at a CAGR of 7.07% during the forecast period (20242029). Source: www.mordorintelligence.com I think Neil Saunders makes some good points in terms of what Amazon can bring to the table in terms of back of house support but luxury brands are not going to sell on Amazon. When you search the brands you literally find a style with the quantity of 1. And, luxury good companies would want to push customers and their date to anywhere but their own stores. If I were them I would of gotten Armault in on this. He is the master of luxury. Another good point is that luxury stores want to sell their products In their own stores. And, if they are another store they are concession deals. So a long term strategy needs to be worked. Sit down with Arnault and cut a deal. No big picture growth strategy without Arnault brands is a big problem. Get Arnault brands and others will follow. Under the above scenario I approve. Otherwise I think bad idea. Best Neiman Marcus Group SaksFirst KITH Apple Gucci LVMH Dior Tiffany & Co. #sustainability #organic Amazon #technology

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The global resale market in retail is huge. Like, $230 billion huge. That’s what it’s projected to hit this year, according to ThredUp. Reselling isn't new. Thrift stores and yard sales have been around forever. However, the current wave is something unique. It’s fueled by a potent mix of sustainability, economic practicality and efficient marketing technology, especially among Gen Z and Millennials. The resale market offers immense opportunities for retailers. It's not just about profits; it's about aligning with corporate environmental stewardship. Here are some key aspects of this trend: 1. Handling Returns: Transforming returns into resale opportunities can help retailers reduce waste and recover value on their inventory. 2. Reusing Packaging: Encouraging customers to reuse return packaging cuts down on waste. 3. Selling Used Products: Offering high-quality used items can attract new customer segments that might not otherwise be able to afford them. 4. Better Recycling: Enhancing recycling options supports sustainability and drives traffic to stores. During my decades in retail, I've seen many consumer trends come and go, but the recent rise of resale truly stands out. By aligning with the values (and budgets) of younger generations, this trend is built to last.

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Get to $1MM in Sales for your Fashion Brand with Wholesale! Everyone wants to get into Saks, Anthro and Revolve and other large retailers, but one BIG question to ask is: Can you afford to do wholesale? It’s crucial to understand the margins for wholesaling your line. Typically, you'll need to give wholesale accounts a generous margin for them to make money. At Alala, we use aim for a 60-65% margin when pricing for wholesale and then a 2.25-2.5x markup from wholesale to retail. If you don’t have strong COGS, you might end up losing money going wholesale, especially when factoring in other costs like warehousing and shipping. Get your COGS under control before considering selling to other stores. At the very least, try to break even initially. More insights coming soon! Subscribe to my Substack for weekly newsletters about how to grow your fashion brand to $1MM in sales. #Wholesale101 #Margin #COGS #FashionBusiness

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Here are some interesting stories from the world of retail for Tuesday, October 29: 👟 Shares of VF Corporation rocketed higher after hours on Monday after the parent company of Vans and the North Face reported second-quarter results that beat expectations. 👚 The RealReal on Monday said President and Chief Operating Officer Rati Sahi Levesque, who helped found the luxury resale site in 2011, has replaced John Koryl as president and chief executive officer. 👗 Ross Stores, Inc. has appointed James Conroy as CEO, succeeding 40-year company veteran Barbara Rentler,  effective February 2, 2025. Initially, he will join the off-price retailer on December 2 as CEO-elect. 👢 Western-themed retail chain Boot Barn has said its chief executive would be leaving next month, while forecasting better sales and profits for the full year. However, shares fell 8.5% after hours. 🌟 Walmart is preparing for Black Friday and Cyber Monday this year by offering three separate sales events. In addition to the deals, Walmart is also offering a one-year annual Walmart+ membership for $49. 🍽️ TGI Fridays's quietly closed dozens of restaurant locations last week as the chain reportedly prepares to file for bankruptcy protection. It previously closed 36 underperforming restaurants across 12 US earlier in the year. 📦 Amazon is experiencing tight capacity at some West Coast facilities due to high demand. The constraints are leading to lengthier processing times for seller inventory at inbound shipping locations. 🤖 Sam's Club's CEO says its automation push isn't about wanting to trim its workforce. He said the tech was removing "mundane" tasks and giving workers more time to engage with shoppers. 📱 Apple is releasing a free software update that will inject its first dose of artificial intelligence into its iPhone 16 lineup as the trendsetting company tries to catch up with technology’s latest craze. 🎭 Confounding gloomy portrayals of a pandemic-crippled theater industry, all but one of 41 Broadway venues will be open for performances in November — the first month so many have been active since 2018. 👖 Emphasizing seasonal fashions at affordable prices, Old Navy is turning up the heat this season with a glitzy party-driven ad campaignfeaturing singer Jennifer Hudson and a cast of whimsical characters. 🏪 Convenience stores, including major players like 7-Eleven and Casey's General Stores, are evolving to compete with fast-food chains by enhancing their food offerings. 💳 Hy-Vee, Inc. is making significant changes to its checkout process by dismantling or altering self checkout lanes in some stores. 🇨🇳 adidas has reported a 9% rise in currency-neutral sales in Greater China for Q3, reaching €946m—its best performance in the region since early 2022. #retail #retailnews #economy #DailyRetailNews

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Aloha Friday! 🤙🏼 Here are some interesting stories from the world of retail for Friday, June 14: 💍 Shares of diamond seller Signet Jewelers tumbled Thursday, after the parent of the Kay, Zales and Jared jewelry-store chains missed quarterly sales expectations, as engagements continued to decline. 🛋️ Shares of RH fell after the upscale furniture chain reported a bigger-than-expected Q1 loss and forecast second-quarter sales below expectations. The company continues to grapple with a slowdown in the housing market. 👖 Walmart is squarely targeting young consumers with a total revamp of its No Boundaries private label assortment of fashion items. New fabrication, shapes and styles will be introduced; prices will remain the same. 🏬 In coming months, JCPenney will shutter four stores across as many states. The department store remains profitable, though net income plummeted nearly 90% last year and sales continued to slide. 🥦 The UK's Tesco has reported total retail revenue of £15.3bn in the 13 weeks to May 25th, up 3.4% compared with the same period last year, with food sales up 5% and online sales rising 12.5%. 📱 Poshmark is ramping up its bet on livestream shopping with a new offering called Posh Party Live. This allows real-time shopping events where sellers and shoppers get together and share items. 🥼 FIGS taps Lululemon exec for CFO. Sarah Oughtred spent almost 17 years at the activewear brand, where she helped scale the business from $270 million in revenue to about $10 billion. 📦 Canada's Competition Bureau has been given approval for a court order to compel Amazon to hand over documents related to a probe focused on "potentially false or misleading claims". 🫙 Tupperware is closing its US manufacturing plant in South Carolina and laying off 148 workers, per a WARN notice dated June 11. The layoffs are part of a multi-year strategy to simplify Tupperware’s supply chain. 🏭 The math is looking good for Walmart's automated warehouses. The company shared that an automated DC sees roughly twice the throughput with half the head count. 🎮 GameStop's annual shareholder meeting was cut short after high interest from shareholders led to a technical issue. The meeting will be reconvened at 12:30pm EDT on Monday. ☕️ The Supreme Court ruled Thursday to restrict the National Labor Relations Board’s authority to obtain relief for fired union activists, in a win for Starbucks that could deal a blow to labor organizing efforts. 📺 Albertsons Media Collective retail media network is debuting Collective TV, a solution that enables participating advertisers to target, measure and optimize campaigns across streaming, digital video, and soon, linear TV. 📉 US wholesale prices fell in May for the second time in three months — thanks partly to lower gas prices — in perhaps another sign an upturn in inflation earlier this year is fading. #retail #retailnews #economy #DailyRetailNews

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Please make it make sense: The Federal Trade Commission (FTC) announced earlier this week that it sued to block the proposed $8.5B Tapestry / Capri Holdings Limited deal. The FTC cited not only their concern that the merger would eliminate the head-to-head competition between the brands [begging the question: are Coach, Versace, kate spade new york, Michael Kors, Jimmy Choo and Stuart Weitzman really head-to-head competitors??], but, and perhaps most bizarrely, that the combined entity would have “a dominate share of the ‘accessible luxury’ handbag market.”  …so so many questions. For starters: Must Americans have guaranteed ongoing access to a variety of ‘accessible luxury’ handbag brands? Aren’t handbags a highly discretionary purchase? What about ‘accessible luxury’ cardi-wraps? Or ‘accessible luxury’ cute tops? At what point does defining a narrow market become super arbitrary? Moreover, as The Wall Street Journal points out, the neither the Coach nor the Michael Kors’ brands from Tapestry / Capri that make up this segment “can afford to push prices up too much for fear of losing out to more exclusive luxury brands.” On the flip side, what would happen if one company’s brands dominated the ‘accessible luxury’ handbag market? Would customers opt to own fewer handbags (which, if that were the case, I would personally be excited to see)? Would the lack of choice result in women wearing the same handbags? What would be the impact on shoes – would there be fewer choices there too? Meanwhile, regulators in Europe and Japan have already signed off on the deal. For its part, Tapestry says it has “full confidence in the merits of the transaction and in our legal arguments, should we need to make them” and both companies plan to defend the case in US courts to complete the deal by the end of this year. What do you think?

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"Generalizing is a wasted effort and it's what gets retailers in trouble with excess inventory to irrelevant product assortments." Adore this commentary from the inimitable Liza Amlani. Highly recommend it as a read. Generalization is a symptom from our over-stretch to efficiency. We are biologically attracted to efficiency as it reduces effort which burns (what were once precious) calories. We therefore seek out every way we can improve efficiency in how we make stuff, how we think, and how we do things. It has a true cost though, which is articulated beautifully by Liza. Customers aren't formed in factories, and their behaviors and preferences change all the time. Even what they say are their preferences don't always align to their actions. It's an old school way of thinking and in a world of this much data down to individual level, we can do better.

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