Steve Peters

🌟 From Retail to Real-World Leadership 🌟 It’s often underestimated just how much experience in retail prepares you for a successful career in leadership! After years in the industry, here’s what I (and so many other retail leaders) have learned: ✅ Customer-Centric Mindset ✅ Team Development & Training ✅ Adaptability & Problem Solving ✅ Data-Driven Decision Making ✅ Financial & Operational Management ✅ Resilience Retail has been an incredible training ground, helping leaders build a skill set that’s as diverse as it is impactful. Here’s to all the retail professionals out there mastering the art of leadership every day! #RetailLeadership #CustomerExperience #TeamBuilding #Adaptability #Resilience #GrowthMindset

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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   🔹 Reliance on outdated systems: 37% of retailers still use spreadsheets, lacking the agility needed for dynamic market conditions.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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If It Ain't Fixed Don't Broke It Macy's announced another round of 150 store closures 3 years after closing 100 stores The closures and layoffs are part of a streamlining effort to better align with the ever changing consumer and marketplace Best Buy is closing 15 stores in 2024 after closing 25 stores in 2023. Additionally, Geek Squad layoffs abound as Best Buy expands the use of A.I. New Gap CEO, Richard Dickson, has stated that marketing has lost sight of the differentiation between its Gap, Old Navy, Banana Republic, and Athleta brands Three large struggling companies with similar turnaround strategies Cut costs, improve inventory mix, align symmetries, yada yada yada One thing these companies never talk about? How do we improve the lot for our employees? How do we get our employees to care? How do we get our remaining employees engaged in our success when all we've done is beat them down Okay, that was 3 things, but you get the point Companies don't know how to engage their employees, and they don't care Why should they? The Institution of Leadership has not moved the employee engagement needle since the 1990’s, which is surprising since the same tired old solutions have been recycled as new for decades Servant Leadership hasn't improved engagement Authentic Leadership hasn't improved engagement Emotional Intelligence hasn't improved engagement The Point? Just because others continue to fail to improve employee engagement doesn't mean it can't be done Better ideas, higher engagement It really is that simple The Illusion of Competence #leadership #innovation #tech #management #emotionalintelligence

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After over 15 years in retail management, leading teams, driving operational excellence, and executing strategic initiatives, I’m excited to announce my journey toward a career in project management. As a PMP candidate with certifications in Google Project Management, Google Digital Marketing, and Meta Digital Marketing, I’m combining my leadership experience with a strong foundation in project execution and stakeholder engagement to bring impactful results to the retail and marketing sectors. In my roles as Store Manager and Multi-Unit Manager: •Managed cross-functional teams to implement large-scale merchandising and operational initiatives. •Enhanced efficiency and profitability through process optimization, achieving up to a 25% improvement in productivity. •Led seasonal transitions by overseeing task delegation, timelines, and resource allocation under tight deadlines. I’m passionate about leveraging my project management expertise to drive innovation, solve complex challenges, and create value for organizations. Whether it’s overseeing campaigns, product launches, or operational improvements, I’m eager to apply my skills in strategic planning, risk management, and process optimization to make a meaningful impact. I would love to connect with professionals in project management, retail, or marketing who share insights or advice as I embark on this new chapter. If you’re in need of someone who can turn vision into actionable results, feel free to reach out or share opportunities! #ProjectManagement #RetailManagement #Marketing #PMP #CareerTransition #Leadership

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So, what specifically is the secret sauce of Walmart? For insights, please click on the link!

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When change happens, and your team asks for more training, it might not be the solution. Clarify expectations and explore ways to support their development. Create practice sessions, observe and coach, and encourage storytelling to reinforce new standards and inspire growth. Empower your team to succeed by understanding their real needs. #Leadership #Retail #TeamDevelopment #EmployeeEngagement #ContinuousImprovement

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Stop Wasting Time on Useless Holiday Gifts. This year, give your employees something that actually makes a difference: The Retail Leaders Roadmap. It’s the no-nonsense guide they need to level up, deliver results, and take ownership of their growth. Skip the mugs, gift cards, or generic swag. This book will not only push them to be better but also make your life easier because they’ll actually show up ready to perform. Click the link below, buy it in bulk, and give them the gift that keeps on giving. Share this with your network to help the industry! Stop the holiday fluff and start building a team that thrives. Grab your copy here

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Celebrating a win for California’s retail safety. Proposition 36 passed! 🎉 Proposition 36 rolls back parts of the controversial Proposition 47. Proposition 47, passed in 2014, was ironically called the “Safer Streets” proposition, even though it was designed to reduce jail overcrowding. It was meant to reverse historic tough-on-crime policies and divert money spent on incarceration to rehabilitation. The crime reform was well-intended but had unintended side effects for organized retail crime prevention. The proposition raised the felony threshold for prosecuting shoplifters to $950. Anyone caught for shoplifting under $950 would be cited with a ticket and released. It wasn’t a strong disincentive for repeat offenders. Ultimately, Prop 47 fueled a surge in commercial burglary (smash & grab) and shoplifting. It’s no surprise that 70.4% of voters approved the new proposition.. Under the new Proposition 36, people found guilty of shoplifting will now be more likely to face felony charges that were previously classified. Shoplifting under $950 is now punishable by up to three years if the offender has “two or more past convictions for certain theft crimes. It also increases potential punishment and jail sentences based on the total amount of goods stolen from prior incidents. Finally, it lengthens felony sentences by up to three years if at least three people jointly commit a theft or property crime or there is property damage. Congrats to all my ORC and LP friends who oversee stores in California! 

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Here are some interesting stories from the world of retail for Monday, May 20: ⚫️ Bruce Nordstrom, who along with three other members of the Nordstrom family transformed a small chain into an international retail giant with more than 150 locations worldwide, died on Saturday at his home in Seattle. He was 90. 🖥️ Working from home and spending billions shopping online. On our remote days, it turns out, we shop while we work. Researchers say it’s driving billions in online sales. 🥫 Creeping price hikes have become all too common, and Costco Wholesale has generally been a safe haven due to its bulk buys and competitive prices. However, it has recently upped the prices on some of its popular goods. ✂️ Layoffs and bankruptcies continue to plague the fashion industry. Converse is the latest brand to be hit with layoffs. And across the industry, it’s clear the macroenvironment is forcing difficult choices. 🏬 Manhattan’s retail scene is such a mixed bag as to defy generalization. The Real Estate Board of NY reports fewer available storefronts than last year and rising rents, but overall, conditions are all over the map. 🧶  Etsy is at a crossroads as it tries to balance declining gross merchandise sales, a tumbling stock price and high inflationwith the needs of its 7 million sellers. 💄 America’s boardrooms have a problem as E.L.F. BEAUTY sees it: “So Many Dicks.” The tagline is part of an attention-grabbing marketing campaign the ompany is launching in an effort to point out inequities in representation 🥗 The UK's Marks and Spencer is upgrading almost 1,000 of its best-selling food hall products over the next year as it attempts to attract shoppers from its middle-class rival Waitrose & Partners. 👕 A number of Gildan Activewear executives are urging investors to support an activist shareholder that’s trying to win control of the board and reinstate fired chief executive Glenn Chamandy. 📌 Some brands are adding Pinterest back into their advertising budgets as the scrapbook-style social media company intensifies its online shopping push. The revival of advertiser demand comes as CEO Bill Ready revamps the app. 🤖 Amazon has faced calls from investor abrdn to step up monitoring its use of AI ahead. The investor is concerned about the risk of scandals or oversights at Amazon hitting its investment. 💰 Americans with deep pockets have played a growing role in powering the US economy with their spending. But their days of splurging like there’s no tomorrow might be coming to an end. 💳 US consumers now carry fewer than four credit cards on average, according to Experian, a decline from 2017 when the typical wallet held 4.2 active credit cards. 🍕 More consumers are saving their workday lunch money to burn when they’re off the clock. The rise of hybrid work has kept many bars’ and restaurants’ lunchtime business from recovering to pre-pandemic levels. #retail #retailnews #economy #DailyRetailNews

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With the 8.1% sales decline accelerating over the last quarter and with losses growing on the bottom line, JCPenney has started its new fiscal year on a sour note. Unfortunately, the market has been soft which has not helped revenue, but as it is only part way through its reinvention program JC Penney also isn’t firmly on the front foot. Lower credit income is also unhelpful, with revenues here down by 20.5 over last year.   The changes JCP has been making to some stores and to assortments seem to be delivering, with refurbished shops performing better and some categories like womenswear producing stronger numbers. Sadly, these things are not yet sufficiently developed or widespread enough to offset staleness in the balance of the business. Basically, there is still a lot of work to do to put JCP on a more stable footing.   Fortunately for JCPenney, it is well financed and has a strong financial partner in its owners. As such, management won’t lose too much sleep over being in the red. However, the company needs to produce some better results across the remainder of this fiscal to prove its strategy is working. It was great to chat with Daphne Howland of Retail Dive about the latest Q1 numbers - link to article in the comments. #retail #retailnews #departmentstores #trading #apparel

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Listening to and learning from our global customers has helped us successfully return A&F Co. to growth! Read more from Forbes about some of the tactics we've implemented and the playbook that keeps us moving forward. 🔗

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If you’ve ever wondered what it takes to achieve a 99% one-to-two-day fulfillment rate, here’s your answer. From inbound to outbound, speed and efficiency are behind every step, empowering our brands to reach their customers fast.

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“Our new store concept cements Foot Locker’s position as the leader in sneaker culture by offering an engaging, cutting-edge shopping experience for the sneaker passionate,” Foot Locker’s president and CEO Mary Dillon stated in a press release.  I spoke with Inside Retail US and Nicole Kirichanskaya and what this all means for the 👟 retailer. Some of my insights: Foot Locker is headed in the right direction with their ’store of the future’ strategy. In fact, it is long overdue. This strategy will put a spotlight on product obsessed sales associates, hyper-localized assortments as well as curated experiences. Rethinking the physical store will get Footlocker to take customer insights and inform product and store decisions based on location and community. This will make every store different and get customers excited about visiting the retailer. The sneaker industry has lost a lot of its luster. Brands like Nike and Under Armour are overstocked with SKUs, and adidas would have had a rough year if it wasn’t for the Samba. Additionally, there are more brands competing for market share. On and HOKA have taken the running community by storm. Brooks Running is focused on innovation and wholesale while PUMA Group and Reebok are relying on celebrities as creative directors to capture a new customer base. The hype around exclusivity and limited editions is not as exciting for consumers, and it will take a lot more than just the product to persuade shoppers to buy. Retailers like Footlocker have the upper hand if they reimagine the physical store as a destination for innovative and exciting experiences vs. focussing on pushing a handful of brands. It’s all about the customer and getting them to spend time in your store. Find the entire article here --> https://lnkd.in/ebzaEUam Shoutout to Neil Saunders and Marie Driscoll, CFA 🙌🏽 #retail #retailnews #footlocker #footwearnews #stores #cx #merchandising

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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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Boston’s retail landscape is thriving, with significant growth and new developments reshaping the city. Despite an increase in remote work, retail activity remains robust, driven by rising tourism and consumer spending. Retailers are expanding in both suburban and urban areas, with new store openings and developments enhancing the city's commercial appeal. Key Highlights: Tourism and Consumer Spending: International travel and domestic tourism are fueling consumer spending, especially in residential neighborhoods like Jamaica Plain, Roxbury, and Mission Hill, where spending has surpassed pre-pandemic levels. Retail Developments: Major projects like Samuels & Associates Lyrik Back Bay and New England Development Allston Yards are set to open, bringing new retail, office, and residential spaces to the city. New Retailers: Brands like Google, Rivian, UNIQLO, Savage X Fenty and Loewe are opening new stores, reflecting Boston’s appeal to major retailers. Experiential tenants like F1® Arcade and MUSEUM OF ICE CREAM Cream are also making a splash. Retail Investment: Investment in Boston's retail properties remains strong, with supermarket-anchored centers being particularly popular. Recent transactions include Crosspoint Associates, Inc. of Brookside Shops and DLC Management Corp.’s acquisition of Colony Place.

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I love that I get anywhere from 5-20 inquiries a day, and I try to respond as quickly as possible to each one. But you may not have to wait at all for your answers. This page explains which retail leaders I work with, how I work, how to reach me, and much more. (It's not long, I promise.) #theretailresumewriter

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There is absolutely NOTHING and I mean this in every way NOTHING a retail leader cannot do. The way we can adapt and act, have such an awareness to others and their feelings. Retail math!!!! Fiscal calendars and all. A communication skill set that is not only direct when needed but eloquent and warm too. It throws any and everything at you at all the most wildest times. I used to laugh “murpheys law” and retail go hand in hand. You’re a payroll specialist an HR generalist, a retail ops leader and most importantly you’re a person, with flaws and if your a true leader you aknowledge that you make Mistakes and teach others to do the same! So blessed that I get to support NSO and Framebridge retail teams because understanding the field and knowing what retail leaders do is the first step to bridging the gap in corporate and the field! 🫶

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🚀 𝐍𝐨𝐫𝐝𝐬𝐭𝐫𝐨𝐦 𝐆𝐨𝐞𝐬 𝐏𝐫𝐢𝐯𝐚𝐭𝐞? 𝐏𝐥𝐮𝐬, 𝐑𝐞𝐭𝐚𝐢𝐥 𝐔𝐩𝐝𝐚𝐭𝐞𝐬 𝐟𝐫𝐨𝐦 𝐒𝐡𝐨𝐩𝐒𝐢𝐦𝐨𝐧 𝐚𝐧𝐝 𝐋𝐚𝐛𝐨𝐫 𝐃𝐚𝐲 𝐅𝐨𝐨𝐭 𝐓𝐫𝐚𝐟𝐟𝐢𝐜 🚀 Nordstrom Inc. might be going private! CEO Erik Nordstrom and EVP Pete Nordstrom, along with investors, have proposed a $3.8 billion deal to take the company private, betting on its valuable real estate despite current retail challenges. Meanwhile, Macy's is continuing its real estate optimization by closing 150 stores by 2026 to unlock value, with 55 slated for closure in 2024. 🛍️ 𝐑𝐞𝐭𝐚𝐢𝐥 𝐇𝐢𝐠𝐡𝐥𝐢𝐠𝐡𝐭𝐬: 𝐒𝐡𝐨𝐩𝐒𝐢𝐦𝐨𝐧 𝐑𝐞𝐢𝐦𝐚𝐠𝐢𝐧𝐞𝐝: Simon Property Group rebranded its online marketplace as ShopSimon, adding discounted and on-sale luxury items. The updated platform aims to offer a seamless, curated shopping experience. 𝐅𝐨𝐨𝐭 𝐓𝐫𝐚𝐟𝐟𝐢𝐜 𝐓𝐫𝐞𝐧𝐝𝐬: Shopping malls saw a 6.6% YoY increase in pedestrian traffic over Labor Day, continuing August's positive trend. In contrast, downtown areas struggled with minor declines, potentially due to summer heat driving consumers to air-conditioned spaces. 💡 𝐈𝐧𝐝𝐮𝐬𝐭𝐫𝐲 𝐈𝐧𝐬𝐢𝐠𝐡𝐭𝐬: The retail landscape is shifting, with companies like Nordstrom and Macy’s exploring their real estate potential. Meanwhile, ShopSimon’s evolution reflects the growing need for retailers to integrate omnichannel strategies, enhancing consumer engagement and driving sales. #RetailNews #ICSC #Nordstrom #Macy's #RetailTrends #Omnichannel

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