Steven Hurwitz

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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🛍️ Are your markdowns driving sales or damaging your brand? In today’s competitive market, markdowns need to be strategic! Read our guide to learn the best practices for applying markdowns in fashion retail. https://lnkd.in/g-M7H8BK #RetailStrategy #FashionBusiness

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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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The psychology of shopping for fashionable swimwear is fraught with challenges. See my comments in this Huffington Post article for key retail insights. https://lnkd.in/emKjq5rh #fashion #swimwear #fashionbusiness #fashionretail #fashionconsumer

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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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Breaking #RetailNews: Macy's has ended talks with ARKHOUSE and Brigade Capital Management, LP 🔔 Macy's Board decided to end discussions after months of negotiations failed to result in a solid proposal (The latest of $24.80 per share lacked sufficient financing). The Board will focus on its "Bold New Chapter" strategy to enhance shareholder value. #MacyInc #BusinessNews #CorporateStrategy #ShareholderValue #Retail #DepartmentStores #MergersAndAcquisitions #Macys

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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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Great insights in the journey of Levi Strauss & Co. with o9 Solutions, Inc. A great example of how #fashion companies can use #technology to increase #collaboration across their #supplychain to add agility, reduce leadtimes and limit waste.

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RetailStat Analysis: Kohl's Struggles Amid Eroding Sales and Leadership Transition Kohl’s continues to grapple with declining performance, reporting a 9.3% drop in Q3 comps and slashing its FY24 outlook. While beauty (+15%) and home categories saw gains, core apparel and footwear sales remain a significant challenge. With Ashley Buchanan set to take over as CEO in January, Kohl’s faces critical decisions around merchandising, store presentation, and navigating fierce competition from online giants and off-price retailers. What does the future hold for Kohl’s as it enters the holiday season? 📊 Download the full report, written by RetailStat Analyst Michael Blackburn retailstat.com. #RetailTrends #Kohls #LeadershipChange #RetailAnalysis #EarningsUpdate #RetailInsights

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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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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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Only put off until tomorrow what you are willing to die having left undone. **HanesBrands Stock In Focus After Earnings Beat: Retail Sentiment Slips** 💼 Earnings per share (EPS) surpass estimates at $0.15, beating the consensus of $0.12 💼 Revenues reach $937.1 million, exceeding analyst expectations by 0.07% 💼 The latest earnings report from HanesBrands has caught the attention of investors as the company outperformed expectations. With earnings per share coming in at $0.15, above the consensus estimate of $0.12, and revenues standing at $937.1 million, exceeding predictions by 0.07%, HanesBrands has demonstrated strong financial performance. Investors who have allocated their funds to Health Savings Accounts (HSAs) can take advantage of this positive news by considering HanesBrands as a potential investment opportunity. By investing in companies such as HanesBrands that show consistent growth and beat earnings expectations, individuals can maximize their HSA investment returns while also supporting the healthcare and wellness industry. Don't miss out on the potential benefits of investing in HanesBrands and growing your HSA. Act now to ensure you are on the right path to financial success and securing a healthier future for you and your family. #hsa #investing #healthcare #health #family #wellness 💪💰✨

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Gap beats earnings and revenue estimates, hikes profit margin outlook as results are posted early. Gap beat fiscal second-quarter earnings and revenue estimates and hiked its profit margin outlook. The apparel retailer released its results earlier than expected after a presentation was inadvertently posted on its website Thursday morning. Gap CEO Richard Dickson told CNBC the company still has more work to do but is making progress in its turnaround. $GAP https://lnkd.in/gYdpX46f #tradeguard #receivableputoptions #arputs #receivableputs #tradereceivables #accountsreceivables

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July retail sales as reported by U.S. Census Bureau illustrate consumers are focused on back to school. National Retail Federation's Jack Kleinhenz, Ph.D. stated "Households are proceeding with measured spending and getting the benefit of falling retail prices despite still-elevated prices for services. Even with growth of the labor force cooling, consumer spending remains the backbone of the economy and is keeping the expansion on a positive path. " Read on below for more insights: https://lnkd.in/gu7msaqX

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Some apparel brands have recently faced scrutiny over forced labor in their manufacturing processes. In the latest Clothing Coulture episode, Stars Design Group CEO Bret Schnitker and CSO Emily Lane explore the complexities of forced labor in the apparel industry. They also share strategies to avoid such pitfalls. Watch "Identifying and Avoiding Forced Labor in Global Apparel Production" here: https://lnkd.in/gB3EhFi7 For more information on ethical practices in manufacturing, check out our episode with Avedis Seferian, President of Worldwide Responsible Accredited Production (WRAP), or go to their website. As always, you can always connect with us directly to learn more. #ethicalmanufacturing #forcedlabor #vettingpartnerships #apparelindustry #fashionpodcast

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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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NOSTALGIC RETAIL SERIES: 15 - LINENS 'N THINGS "In November 1958, Eugene Wallace Kalkin established a leased-linen department in the New Jersey discount retailer Great Eastern Mills. In August 1970, Great Eastern Mills opened the first Linens 'n Things store in East Brunswick, New Jersey. After a succession of corporate ownership changes and the bankruptcy of Daylin, Inc. in 1975, Kalkin bought seven locations out of bankruptcy and founded an independent parent company, which became Linens 'n Things, Inc.." *[Home Textiles Today]* In 1983, Melville Corporation acquired the 55 unit chain. By 2006, the chain boasted 571 stores in the U.S. and Canada. The company's business strategy was "to offer a broad selection of high quality, brand name home furnishings merchandise at exceptional everyday values, provide superior guest service, and maintain low operating costs."*[The Wayback Machine]* But with a ton of debt from private equity buyouts (I know we have never heard this story before), all Linens 'n Things stores were closed in late 2008. As with many of the retailers in this series, the brand went online only with a relaunch in early 2009 and then shut down their online-only presence in 2018. The rights to the brand were acquired by Retail Ecommerce Ventures in 2020 and the website was relaunched. As of today, it is active with brands of yesteryear showing on the top banner that live on in an online only fashion. Missed any posts in the series? Click here for the website with the full list: https://bit.ly/3YxvVfR #nostalgicretail hashtag#retail hashtag#shopping hashtag#brands hashtag#retailrealestate Photo: By Ildar Sagdejev (Specious) - Own work, CC BY-SA 4.0, https://bit.ly/40tAiK6

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