Sonia Syngal

Last week, Responsible Sourcing Network announced the launch of YESS, Yarn Ethically & Sustainably Sourced, an industry-wide initiative to enhance accountability and transparency in the textile supply chain, and I’m thrilled Walmart is a part of it. The first cohort of brand members includes key players in the retail and garment industry like adidas, Fanatics Apparel, INDITEX and the Walt Disney Company. Through collaboration with these stakeholders, we’re going to work together to address systemic risks and ensure the well-being of workers throughout the value chain. This industry-wide approach to due diligence is crucial in promoting responsible sourcing practices and addressing the root causes of forced labor in cotton production. Check out the announcement below 👇and learn more about YESS and its mission. #ResponsibleSourcing #Walmart #Collaboration Responsible Sourcing Network (RSN) https://lnkd.in/geeZGJND

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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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💡Amazon invests in consolidation of Saks Fifth Avenue & Neiman Marcus Group … Why? 💬 Lot of chatter in the last day about Amazon backing the consolidation of LUXURY retailers Saks and Neiman Marcus….theres a lot to be said about tech that helps traditional retailers win and I think Forbes and Suzanne Kapner at The Wall Street Journal have a great take. That being said, I think the crown jewel they are going after here is interesting…. I think the big nut to crack for Amazon is a CRM play of owning the super high end customers…dominating that top spender market. That luxury shopper. Not as a transactional relationship, but owning that luxury shopper segment—both online and offline. I think the crown jewel Amazon is going after here is…. 💵 Prime for the 0.1%ers. The big picture here is a massive opportunity for Amazon to unlock — think of the spending they could own. 💥 Amazon Ultra Prime. No wonder Salesforce also invested… CRM play. https://lnkd.in/gy_r7jMQ https://lnkd.in/gmk-ZqSU

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"We thought, ‘We can do more with a lot less,’ and that didn’t work out for us.” On the back of #TerribleHorribleNoGoodVeryBad quarterly results, it's quite refreshing to hear Kohl's (outgoing) CEO speak so openly about the current state of the business and the decisions they / he made that did not work out. The full transcript (link in the comments) is worth a read. CEO Tom Kingsbury started with ... "Over the last several quarters, we have implemented a significant amount of change across our assortment, value strategies, and in-store experience. We believe these actions will make us more competitive over the long term. However, we undervalued the short-term impact this change could have on our sales performance." And then went into details on the three areas that drove performance: "a decline in traffic, especially early in the quarter, during the back-to-school season; a reduction in receipts in our private apparel brands, which impacted our ability to drive sales in our key value items; and categories where we have lost traction that represented opportunities for us going forward such as fine jewelry, petites and intimate apparel, and legacy home products." He didn't blame the macro environment or the weather, despite both playing a factor. Frankly, the only thing not addressed -- in the narrative nor in the Q&A -- was how to overcome the challenge of operating in the department store sector as a whole (for those not following closely, department stores have been in a 30-year decline). And yes, I imagine that knowing you're no longer in charge is part of why he was able to "own" the issues, effectively "cleaning the plate" for incoming CEO Ashley Buchanan. But still a welcome change from the "corporate speak" of most quarterly calls. https://lnkd.in/ez8PJ2t7

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Kudos to Macy's for their navigation of this challenge to how the company should operate in the future benefitting Shareholders and satisfying Stakeholders, including customers, during "A Bold New Chapter”. Excerpts: Dive Brief: Macy’s Inc.’s board of directors has unanimously voted to end talks with Arkhouse Management and Brigade Capital Management, which in March had offered $6.6 billion or $24 per share to take over the company, the department store said on Monday. The firms in June raised their bid to $24.80 per share but failed to deliver “a definitive, fully financed and actionable proposal,” the department store also said. Macy’s had requested the best price the firms were willing to pay, plus “fully negotiated commitment papers for all the debt and equity needed to finance the revised proposal.” Dive Insight: Given Arkhouse’s focus on real estate, its bid in conjunction with Brigade Capital — now close to $6.9 billion — was widely seen as a play to monetize Macy’s property assets rather than transform its retail operations. For many analysts that called to mind the slow deterioration of Sears. More recently, since Arkhouse’s overture, Macy’s has fortified its board’s real estate expertise — including adding nominees favored by Arkhouse — and said that property value will be a factor in deciding which 150 stores will shutter over the next three years. “Macy’s has played a good game in patiently furnishing the activist investors with information and allowing their nominees to take some seats on the board,” GlobalData Managing Director Neil Saunders said in emailed comments. “As such, it has shown itself to be a willing participant in discussions and has taken the bid seriously, which it must do in the interests of shareholders. However, Macy’s is also right to terminate dealings that were not proving to be fruitful or serious in terms of financing.” Meanwhile, the firms didn’t offer much beyond squeezing money from Macy’s real estate, according to GlobalData’s Saunders. “Indeed, many of the activist investor proposals would have significantly weakened Macy’s and hampered its ability to survive as a retail operation,” he said. On Monday Macy’s made clear that, with these negotiations in its rear-view mirror, its turnaround, dubbed “A Bold New Chapter,” is now sharply in focus. The turnaround is helmed by Macy’s Inc. CEO Tony Spring, previously Bloomingdale’s CEO, who took over from Jeff Gennette in February. Saunders credited Spring with having “a much clearer sense of vision and purpose in working to turn the business around.” “While Macy’s has a lot of work to do, it must be allowed the breathing space and time to enact changes that will put it on a path to growth and add value for investors,” he said. “Arkhouse and Brigade were never part of that long-term vision and the distraction of a sideshow they created must now end.” #macys #retail #takeover #realestate

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CEO's rarely admit when they are wrong. However, Kohl's outgoing CEO, Tom Kingsbury , this week acknowledged mistakes that caused a steep drop in the retailer’s quarterly sales.   Kohl’s scaled back popular private-label brands, fine jewelry, and petite clothing sizes—moves that turned off shoppers and contributed to a 9.3% drop in quarterly sales.   Without the lift from SEPHORA, which has shops inside Kohl’s stores, sales would have dropped even more.   While #inflation and other macroeconomic events played a role, many problems were self-inflicted. “It’s up to us to fix it,” Kingsbury said.   Or rather, it will be up to Kingsbury’s successor. A day before Kohl’s reported its disappointing earnings, the company announced a leadership change: Ashley Buchanan, a former Walmart executive currently the chief executive of Michaels Stores, will take over in January. Kingsbury will remain in an advisory role and retain his board seat until he retires in May.    Kohl’s was in trouble before Kingsbury, a retail veteran, took the reins, first as interim CEO in late 2022 and then as permanent CEO a couple of months later.   Sales have declined for 11 consecutive quarters, and more than half a billion in sales have evaporated. Kohl’s shares are down 52% over the past two years.    It is a surprising outcome given Kingsbury’s pedigree and the fact that he was installed on Kohl’s board at the behest of activist investors, who had pushed for the company to run itself more efficiently. A former May Department Stores executive, Kingsbury worked briefly at Kohl’s before becoming CEO at Burlington Stores, Inc., where he led a turnaround from 2008 to 2019.   His priorities at Kohl’s included making its stores and website better places to shop, offering clearer value, improving inventory management, and strengthening the balance sheet. Many of the moves backfired.    Kohl’s scaled back its fine jewelry departments to make room for Sephora shops in its stores, which upset customers. In an effort to carry less inventory, it reduced its selection of clothing in petite sizes—a decision Kingsbury called “shortsighted.”    And in another attempt at reducing inventory, it cut back on private label brands like Sonoma and FLX, as it stocked more national brands such as Nike and Eddie Bauer. The retailer’s private-label inventory dropped on average by more than 20% and even more sharply for several key brands.   “We thought, ‘We can do more with a lot less,’ and that didn’t work out for us,” Kingsbury said.    Now, Kohl’s is reversing those moves. It has reintroduced jewelry to 200 stores. It is expanding its petite offerings and is stocking more private-label goods. Kingsbury said he expects those efforts to translate into better sales late this year and early next year. Many of Kingsbury’s initiatives are works in progress and are gaining momentum.  https://lnkd.in/e6sRiukq

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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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“Adopting a Human-Centric Leadership Model: The Future of Retail CEOs” In the dynamic landscape of retail, one truth remains: people are central to all that we do. Recently explored McKinsey’s thought-provoking article on “The Human-Centric Approach to CEO Leadership,” and it resonated deeply with me. In an industry where customer experience is critical, isn’t it time we extend that same dedication to our internal teams? Adopting a human-centric leadership style certainly requires some human approaches: #Empathy Fuels Engagement and drive speed. By understanding our teams’ needs, we nerd to cultivate a culture of trust and motivation. When our employees flourish, so does our business. #OpenCommunication and #Transparent #conversations dismantle barriers and inspire innovation. Let’s ensure dialogue flows freely across all levels. #Flexibility and #Resilience is a must. In a swiftly evolving market, adaptability is not just beneficial—it’s imperative. This applies to both our strategies and the support we provide to our teams. #Investing in People and Growtth is essential to be on top this disruption. Upskilling and Providing opportunities for professional development enhances required knowledge and empowers employees. It builds a stronger organization from within. #Cultivating #Inclusivity within A diverse workforce brings diverse ideas. Celebrating different perspectives leads to better solutions and a more vibrant workplace. As leaders, our role transcends beyond strategies and KPIs—it’s all about nurturing the very people who drive our success.✅✅ #CEO #Business #Leadership #Management #HumanCentric #Agile #Disruptive #Strategy #FutureOfBusiness #Futurism #Symbiotic #HumanMachine #Collaboration #Mckinsey

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This is an interesting move by Saks. A luxury retailer can even test this idea, but it's impractical for most retailers. 👉🏽 Saks Fifth Avenue in San Francisco will convert to an appointment-only format starting August 28, aiming to provide personalized service to luxury clients. 👉🏽 The move is part of a growing trend among luxury retailers to offer one-on-one fashion expertise tailored to high-net-worth clientele in a discreet, upscale setting. 👉🏽 The appointment-only concept is expected to help prevent shoplifting and streamline operations by requiring fewer staff. 👉🏽 The decision may have been influenced by retail crime in the area and the challenging retail environment, with other retailers leaving due to falling foot traffic. 👉🏽 While some regular shoppers express disappointment, luxury consumers continue to show a strong preference for personalized, in-person retail experiences.

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Retail’s biggest season is approaching, but many retailers might not be feeling the cheer. In September, total US retail sales in Bain-defined categories grew by just 2.3% year over year, extending the slowdown that began in July. Both in-store and nonstore sales have lost momentum, aligning with our forecast for a more sluggish holiday season. Discover the full outlook in our latest retail sales update. https://bit.ly/4e0IDIs

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What's the headline from recent retail earnings transcripts from Walmart, DICK'S Sporting Goods, The TJX Companies, Inc., and more? Value wins. The macroeconomic environment played a role in crowning the season’s winners. Value is top of mind for consumers as they look to stretch their budgets. Read on below for more insights: https://lnkd.in/gCvZghbY

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I am so honored and humbled.  "AI-powered solutions will also play a pivotal role in lowering returns by enabling more accurate product descriptions, personalized recommendations, and efficient reverse logistics."   Thanks Shelley E. Kohan for including my thoughts in Forbes on how brands can reduce returns this holiday season. Zeta Global leads retailers in digital transformation! #retailnews #retailmarketing #retail

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Department stores are at a crossroads, with many reporting declining earnings as they struggle to compete with social channels, bespoke retailers, and online shopping. Christine Barton recently spoke with CNBC about the pressures they face managing inventory while appealing to Millennial and #GenZ shoppers. #RetailTrends #BCG #ConsumerTrends

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As we look toward the retail holiday season and planning for the year ahead, MOHR Retail will be hosting a panel discussion that explores the landscape of retail store environments today, focusing on a range of topics, including the dynamic roles of store teams, the rise and fall of self-checkout systems, how stores are increasingly becoming fulfillment centers, and how successful retailers are addressing issues related to mental health, safety, and burnout amid preparations for the holiday season. Here’s a quick overview of some of these hot-button retail store trends and issues and what we’ll be focusing on during the webinar: ↪The Evolution of Store Roles With the surge of Buy Online, Pick Up In-Store (BOPIS) options and stores doubling as fulfillment centers, retail teams are adapting to new responsibilities. The traditional role of a store employee has shifted from managing in-store tasks to balancing online orders and managing stock all while building loyalty by ensuring a seamless customer experience, both online and offline. ↪The Rise and Fall of Self-Checkout Self-checkout was once hailed as a revolutionary step forward in retail efficiency, offering customers a quicker way to check out while reducing the need for staff. However, recent concerns over security, increased theft, and the impersonal nature of the experience have led some retailers to reconsider their reliance on self-checkout systems. ↪Doing More with Less As staffing challenges continue to rise, retailers are finding themselves needing to do more with fewer employees. Retailers need to rethink scheduling, training, and multi-role positions while looking for best practices that help streamline operations. If you’re interested in joining this panel discussion, reach out to me! We’re looking for your experiences, insights, ideas, and/or other lessons you might be able to share to add to a lively, thought-provoking discussion #LearnMOHR #RetailTrends #Retail

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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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An independent investigation uncovered that a Macy's employee intentionally hid $132M-$154M in delivery expenses over several years, delaying the release of Macy’s quarterly results and shaking investor confidence. 🔎 Key Takeaways: • Accountability Matters: Even a single individual’s misconduct can have significant ramifications, from financial inaccuracies to reputational damage. • Controls Are Crucial: Robust internal controls and regular audits can detect and prevent unethical practices before they escalate. • Transparency Is Key: Macy’s swift action to investigate and disclose the issue reflects the importance of transparency in rebuilding trust. 💡 The Lesson for All of Us: Strong accounting systems and ethical practices are not just back-office functions—they’re the backbone of a business’s credibility and operational success. Whether you’re managing a Fortune 500 company or a small business, investing in oversight, ongoing training, and a culture of integrity is non-negotiable. This story is a good reminder of the significance of diligence in our accounting processes. Ethical practices don’t just protect your bottom line—they uphold the trust of stakeholders, customers, and employees alike. Oh - and you should have an ERP system that helps you maintain your internal processes, not hinder them. It might just save you $154 million dollars. https://lnkd.in/gmGf4c9W #Accounting #CorporateEthics #BusinessIntegrity #Finance

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Honored and thrilled to have received an "Exemplary Assignment" recognition from INSEAD in the Supply Chain Strategies for Business course! This experience deepened my understanding of the pivotal role supply chain plays in today’s fast-evolving business landscape—exploring innovations in sustainability, agility, and value-based management. Many thanks to INSEAD/Emeritus for their incredible resources and support, and to my classmates for the collaborative learning experience. Looking forward to applying these insights and continuing to contribute to more resilient, efficient, and sustainable supply chains. #INSEAD #SupplyChainManagement #ContinuousLearning #Sustainability #BusinessTransformation

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Last Friday, Retail Women in Tech hosted not only a very informative, but also a very engaging conversation about how to best position one selves for what's next in their career. I can't thank Hareesh Menon enough for sharing his experience and words of wisdom. I certainly learned a lot! Here are some of my takeaways: - Cover letters are a thing of the past. - Approach your resume like a storyboard. - Make a cover resume page that is unique to you. Share who you are, highlight your top achievements, say what you want to do & why you want to do it with that company. This is what recruiters first look at (and likely on their phone so make it easy to read). - Your cover page shouldn't change from job to job, except why you are interested in that company. Stay true to who you are. - LI isn't all that for finding a job. Stop the scrolling! Get intentional about your search beyond LI job postings. - Reach out to leaders in companies you are interested in; but when you do so, personalize the invitation, saying you like the work they are doing with said company, etcetc. - Lastly, but most importantly, map out where you want to be in the next 3 years. From there, determine what you need to learn, who can help you get there, who you need to get to know. Build your personal "GPS" community to help you get there.

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