Troy Dunmire

🚀 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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Walmart has removed degree requirements from most of our jobs, with over 75% of our U.S. roles now not requiring a degree.    We are collaborating with The Burning Glass Institute and other leading companies in the Skills-First Workforce Initiative, such as Bank of America, Blackstone, Johnson & Johnson, Microsoft, PepsiCo and Verizon. Our skills-first approach aims to open up career opportunities, meet employer talent needs and strengthen the economy. The framework will be open source and available to all U.S. employers by September 2025.    Our initial focus is on the nine most prevalent job roles across various sectors, which collectively account for over 11 million American jobs. By creating a shared language, or taxonomy, for assessing and valuing skills, we can promote the widespread adoption of this hiring approach.    Read more here: 

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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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Here they grow again as The TJX Companies, Inc. Companies, Inc. confirms the expansion of their "treasure hunt" experience by over 1300 doors. Learn more: [Link to the article] #TJXCompanies #Retail #Expansion #value #fashion #shoppingandtheretailindustry

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Great Bloomberg op-ed on why investing in retail store leaders is good for business. I love Andrea’s callout that big investments can raise eyebrows with analysts – like increasing our average Walmart store manager salary to $128,000/year with a new bonus program that gives store managers the potential to earn up to 200% of their base salary. But in the long run, she shows how these types of investments support retention, career growth, better run stores, strong stock value, and our ability to attract a broader range of customers.   Here are a couple of studies that stood out to me in Andrea’s piece: 💠 A 2012 study by Alex Edmans, Professor of Finance at the London Business School (then at Wharton School), found that firms on Fortune’s list of “100 Best Companies to Work for in America,” which have superior employee satisfaction scores on factors including pay and benefits, outperformed peers by 2.3-3.8% per year from 1984 through 2011. 💠 A follow-up study by Hamid Boustanifar, associate professor at the EDHEC Business School, and Young Dae Kang of the Bank of Korea found that the relationship still held: companies on the publication’s list earned an excess return of 2-2.7% per year through 2020, with particular outperformance during tough times.   At the end of the day, these investments also support the ability to build a pipeline of strong talent that stays and grows with a company. We want Walmart to be seen as an employer of choice and pay plays a big part in how we attract and retain talented people. #Compensation #TeamWalmart https://lnkd.in/gPVdAYG4

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Retail Media Network Basics At A Glance At the Path to Purchase Institute, we've curated all the essential retail media intel, terms, and definitions you need to know. Whether you're new to retail media or looking to refresh your knowledge, this article is packed with valuable resources to help you stay ahead of the curve. Take a look and get up to speed on the latest in retail media. #RetailMedia #Marketing #P2PI #membership #MediaTrends https://lnkd.in/eS4Jnid8

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Kicking off the month of May with excitement around Kizik's extension in NYC and upcoming store opening at Mall of America! In my latest podcast episode, I had the opportunity to sit with both Monte Deere, CEO and Gretchen Weimer, Chief Merchandising Officer. We sat in their immersive New York City pop-up to discuss not only the brand's growth and evolution but the future roadmap for brand owned stores, wholesale partnerships and digital strategies. Listen to a one minute clip from the segment and you can click the link below for the full conversation where we dive into: - Experiential Retail: How Kizik’s NYC pop-up and its interactive elements exemplify the future of retail by enhancing customer engagement - Global Brand Strategy: Insights into Kizik’s plans for international expansion and how local cultural nuances influence product offerings - Product Innovation and Consumer Interaction: Discussion on how Kizik’s hands-free technology not only meets functional needs and creates a new lifestyle appeal Inside "Motion is Magic" with Kizik: https://lnkd.in/exbwED-4 We are just beginning to see what Kizik is bringing to the industry with "Motion is Magic" and Hands-Free technology. #RetailRefined, a MarketScale #podcast cc MG2 Design

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With the takeover bid for Macy’s simmering away, there has been a lot of focus on the merits of public versus private ownership of retailers – especially legacy players like department stores. One of the big problems with public ownership is short-termism. Most investors want quick returns, and they expect fast progress on initiatives. This pressure isn’t always a bad thing, but it can drive short-term decision making where executives are so focused on the next quarter that they lose sight of longer-term goals. Capital investment can also be an issue, especially if it is directed to things that markets don’t hold in favor. The negative reaction of many when Target announced it was investing in stores is a case in point – although Target’s spending has now been thoroughly vindicated. Private ownership allows for more considered decision making, and it allows for longer term planning. But neither is it a savior. Without the pressure and scrutiny of markets it is very easy to become sluggish and complacent. The Nordstrom family is, no doubt, conscious of all these arguments as they finalize their bid for taking the iconic chain private. Their success hinges on convincing the committee assessing the privatization of the fair value of their bid, and that it beats any competing offers. My view is that the family will have to pay a fairly hefty price to make this deal go through. Ultimately, as a private company Nordstrom will face exactly the same issues as it does now. However, the response to those challenges may be different, and more flexible, and that’s what will ultimately determine whether or not privatization improves the fortunes of the chain. More of my thoughts are in this piece by Just Style... https://lnkd.in/gQCDhGa3 #retail #retailnews #departmentstores #Nordstrom

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An old-fashioned undercover sting and stakeout. This past week, a great article about organized retail crime prevention made headlines on CNN. The article depicted loss prevention leaders at The Home Depot, Ulta Beauty, CVS Health, RITE AID, and Ulta Beauty as high-tech operatives thwarting organized retail crime (which is great for the profession). It’s great to see retail investigators being recognized for their high-tech work. It wasn’t always that high-tech. Back when I got my start, we did things in an analog fashion. I was working at Lechmere, a subsidiary of Montgomery Ward. We were losing inventory and suspected foul play in the warehouse. Electronics, such as camcorders and radar detectors, were disappearing—at the time, a lot of product was lost. We planted an undercover person in the warehouse who had infiltrated a group of employees who were stealing merchandise. He alerted me to the next load of goods designated for a heist.  The goods had been loaded in a big-screen TV box. We didn’t know how the goods were getting out of the building or who was involved in the transportation. So, we set up a sting operation to identify the trucking partner and bust the entire team.   I was staked out in the woods behind the loading dock with binoculars and a camcorder. This was Massachusetts in the dead of winter. We thought the counterpart was the guy who switched the trailers, but low and behold, it was the UPS guy! We hopped in a car to follow the truck while alerting the police. We coordinated with law enforcement, who raided the meetup while the criminals distributed the goods from the UPS truck. The criminals were apprehended, and we collected our inventory. What would be different today is that we’d have technology that would allow me to avoid hiding (freezing) in the woods with a camera. We’d have several cameras installed to monitor for suspicious activity. We’d also have GPS trackers with the shipment, so I wouldn’t have to tail the truck. This way, as an LP  leader, much of the investigation can be done with technology in coordination with law enforcement. P.S. Going to NRF Protect next week? Stop by booth #819 to say hi and swap stories! #lossprevention #assetprotection  #ORC

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Article…”Store Closures Are Surging This Year”… CBS. Any HEALTHY Retailer should be closing +/- 5% of their store portfolio every year and redeploying the resources to new / better locations. An annual “Portfolio Review” that includes reps from Store Ops, Finance, the Leasing Team, Construction and even Mkting and Merchandise should annually review the P&L of EVERY LOCATION along with vacancy rate, $/ft, market demos, market rents, possible alternate and/or emerging markets, population trends of EVERY CENTER and potential new market. The goal is to develop an ACTION PLAN on each location… where can indiv. Depts. make a positive impact to improve business…and what locations need to “go away”… at the end of the lease or even sooner. These sessions can be tense and intense with some “gnashing of teeth” and soul searching but it ultimately results in a more profitable Retailer with resources available to redeploy to new, more productive locations. Crossroads can assist in executing Portfolio Reviews and even work with landlords on “early out” agreements…a sometimes contentious and complicated process that in-house leasing reps may not be equipped to navigate. Our track record on settlement agreements is OUTSTANDING. Contact us at [email protected]

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Here are some interesting stories from the world of retail for Saturday, October 19: 🏥 America’s largest drug store chain named a new chief executive officer on Friday, with longtime CVS Health executive David Joyner replacing Karen Lynch. CVS also withdrew its 2024 profit forecast. 🍼 buybuy BABY plans to close its entire physical store footprint by the end of this year, transforming into a digital-first brand and allowing it to focus its energy on providing an exceptional online shopping experience. 🦃 Major US grocers are going head-to-head, offering similar discounted Thanksgiving meal baskets to lure in cost-conscious customers who are squeezed by high prices. 🍫 The price of chocolate’s key ingredient has nearly doubled this year, but consumers still aren’t likely to see a huge price hike as they stock up on candy supplies this Halloween as suppliers are absorbing costs increases. 💵 Walmart has reached a proposed settlement agreement in connection with three shareholder lawsuits regarding its distribution of prescription opioids, adding to a years-long saga of opioid-crisis lawsuits. 🏬 Macy's has launched an exclusive holiday collaboration with Disney with a limited-edition assortment. Macy’s is offering over 100 Disney-themed items, including apparel, accessories, toys, beauty and collectibles. 📦 A senior Amazon executive - the head of the tech company’s cloud computing business - has suggested that staff who do not like the company’s new five-days-a-week office-working policy should quit. 💄 With a new store opening plan, Ulta Beauty will open about 200 net new stores over the next three years, which comes to about 66 per year, and is targeting a footprint of more than 1,800 stores. 💊 Nearly half of US counties, or 46%, had at least one pharmacy desert, and that number is expected to increase as the major drugstore chains accelerate their store closing plans. ☕️ Starbucks has tapped Chipotle Mexican Grill alum Tressie Lieberman as its global chief brand officer, a newly created position and the latest executive change under Brian Niccol. 🧼 Procter & Gamble’s quarterly sales slipped, dented by a weakened Chinese economy and conflict in the Middle East. The consumer-products company said it has no plans to cut prices in the US. 📱Sales of Apple’s iPhone 16 in China are up 20% in their first three weeks compared with 2023’s model. 🍟 McDonald's has brought the McRib sandwich back to the menu in the United Kingdom. But it could be coming to US restaurants soon, too. 🥔 Activist investor Jana Partners has built a stake of roughly 5% in Lamb Weston and plans to push the french-fry maker to explore a sale. #retail #retailnews #economy #DailyRetailNews

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I’m excited to see Bath & Body Works debuting its “Investing in You” program, which will support education and development for its associates nationwide. As reported by Retail Dive: “We are committed to providing growth and development opportunities, which give our associates what they need to be at their best both personally and professionally,” Gina Boswell, Bath & Body Works CEO, said in a statement. “We believe that when people feel valued and empowered to be successful, we can continue to grow as a stronger, smarter business.” I couldn’t agree more! Rewarding and supporting your associates is a critical component of retaining the top talent. We’ve spoken a lot about this in recent webinars, as building a culture of trust and growth should be a priority for all retailers. Retail associates give so much each day as the faces and backbones of retail organizations, and it’s by giving them opportunities like this that you show them they are valued—and maintain them as engaged, loyal team members. At a time when retention has been an ongoing problem for retailers, initiatives like this are the future, and I hope to see even more retailers continue to prioritize their associates in this way. What other retailers are taking these same steps forward? ⤵ #LearnMOHR #RetailTrends #Retail

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It is an excellent report from a local Washington grocer. Shopping local and using circular economy practices reduce stress on our larger ecosystem. Food Co-ops provide a necessary community resource. I took away six wins for the Circular Economy in the PCC report as the company walks the talk. Reduction of Waste to Landfill Sustainable Packaging Energy and Water Use Mitigation Green Building Practices Sustainable Sourcing Practices Recycling Initiatives Of particular interest are PCC’s efforts in Sustainable Packaging. According to The Environmental Protection Agency (EPA), about 28% (82.2 million tons) of waste generation packaging to wrap or protect goods is created annually. With PCC Community Markets partnership with Seadrunar for select stores, they are reducing landfills for plastic film and the recycling of cardboard. Data wins the day, as the report notes. Reducing the packaging footprint is of interest to all grocers because it will impact the bottom line, community, and the larger environment. I was recently introduced to the CEO of Truen, a clothing manufacturer that uses very sturdy seaweed-based bags. The bags are touted to be 100% biodegradable and may provide an alternative to food-grade materials. Look for an interview in an upcoming Retail Radar. What is at the top of your mind for sustainability in grocers? #Innovation #RetailStrategy #Sustainability #CircularEconomy

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NOSTALGIC RETAIL SERIES: #7 - ZAYRE Brothers Max and Morris Feldberg founded a company in Boston in 1919 to supply undergarments to department stores. When sales began to decline, they ventured out to create a new discount department store. The first Zayre location opened in Hyannis in 1956. Zayre which was a transformation from the Jewish saying “Zehr fgut” which means very good, grew into one of the largest retail chains in the country with almost 1,200 locations nationwide. In the '70s, Zayre tried to buy Marshalls but failed. Their answer was to create a Marshalls clone, TJ Maxx, in 1977. Yes....TJ Maxx❗ In the mid 1980’s profits began to decline which eventually led to Zayre filing for Chapter 11 bankruptcy in 1988. The department store chain was then sold to Ames and by 1990 Zayre ceased to exist. Ames, kept the exterior similar to the style of the shuttered Zayre locations. Ames filed for bankruptcy protection in 2001 and their remaining stores were closed shortly after. Zayre’s one-time subsidiary TJX (TJMaxx, Marshalls, and HomeGoods) is thriving. Missed any in the series? Click here: https://bit.ly/3U8etfa #nostalgicretail #retail #shopping #brands #retailrealestate

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Looking for some visual merchandising tips? Here are some thoughts on the virtues of mass merchandising from the Specialty Shop Retailing blog. #independentretailers #shoplocal #visualmerchandising #retailing #smallbusiness

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In this new Wisdom With, I get a chance to garner valuable insights from James Jackson who leads strategic development efforts for the Category Management Association and his thoughts on better retailer and buyer engagement. 💡 Understand your Category Manager/Buyer ↗ Retailer Category Managers are charged with meeting P&L objectives and not YOUR specific brand goals. ↗ Each individual brand (and item) must clearly serve a purpose and contribute to achieving his/her objectives. ↗ Learn their how they like to receive information and tailor accordingly. Avoid off-the-shelf presentations that lack any customization for the specific customer in mind. Canned pitches have a low success rate. 💡 You Must Be Compelling ➡ Weave great insights and your product offering into a clear solution that helps address their specific category or business objectives. Compelling stories should have: 👉 A recognizable conflict (example: “50% of shoppers in this category are struggling to find an x product to relieve this symptom”) 💪 A “hero” (your brand) 👊 A believable and profitable resolution (example: “By solving the conflict, it would bring an incremental $1M in margin to the category”) 💡 Help Drive Execution ↗ Your Customer is buried with data, multiple projects, and is continuously putting out a fire. ↗ Your goal shouldn’t stop at getting distribution, it should be to STAY in distribution. 💡 Assist your Category by making effective implementation easy. ↗ Recommend the POG changes and do the work in advance ↗ Target a smart cluster of stores to launch for higher likelihood of success ↗ Create a strong promotional plan to drive immediate proof of performance ↗ Offer sales/broker support to get things rolling #wisdomwith #betterperformance #retail #merchandising #data #storytelling

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How can you best maintain your focus through the holidays and end-of-year? 𝗡𝗼 𝗻𝗲𝘄 𝗶𝗱𝗲𝗮𝘀. 💡   Wait ... what? I know this sounds radical, but hear me out.   Convenience Store News just published a piece on the innovation agenda for convenience retailers, citing five strategic initiatives that will never get old.   1️⃣ The Store Experience 2️⃣ Foodservice Innovation 3️⃣ Customer Engagement 4️⃣ Data-Driven Decision Making 5️⃣ Workforce Optimization   "𝘛𝘩𝘦𝘴𝘦 𝘢𝘳𝘦 𝘤𝘰𝘮𝘮𝘰𝘯 𝘮𝘪𝘭𝘦𝘱𝘰𝘴𝘵𝘴 𝘢𝘭𝘰𝘯𝘨 𝘵𝘩𝘦 𝘫𝘰𝘶𝘳𝘯𝘦𝘺 𝘵𝘰 𝘣𝘦𝘤𝘰𝘮𝘪𝘯𝘨 𝘢 𝘱𝘳𝘦𝘧𝘦𝘳𝘳𝘦𝘥 𝘥𝘦𝘴𝘵𝘪𝘯𝘢𝘵𝘪𝘰𝘯 𝘧𝘰𝘳 𝘤-𝘴𝘵𝘰𝘳𝘦 𝘴𝘩𝘰𝘱𝘱𝘦𝘳𝘴."   These are not new concepts, but rather well-known ideas put into action. Take a look at this work from Melissa Kress, Danielle (Romano) Rowan, and Tammy Mastroberte to see how the winners keep winning, even despite "no new ideas."   📕 Read on: https://lnkd.in/g5wwrenK #convenience #cstore #innovation #roadmap #digital

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Here are some interesting stories from the world of retail for Tuesday, November 19: 🏥 CVS Health has added four new board members, including the chief executive of a hedge fund that has been critical of the struggling healthcare giant. The board bow has 16 members. 👜 Mulberry reported this morning that that sales in the six months to the end of September dropped 19% to £69.7m, while its losses widened 23% to £15.7m. The firm suggested that job cuts are on the horizon. 🔄 REI is now not accepting returns from a small subset of its members who have abused its policies. The serial returners had an average return rate of 79% and many were bringing back products that had been used. 🦃 The average price of a 15-pound turkey for Thanksgiving in 2024 is $31.16. Alaska and Hawaiʻi are the two most expensive states with prices of $44.85 and $52.85, respectively. 🤖 Perplexity, the AI-powered search engine, has launched a new shopping feature for its paid customers in the US, allowing users to receive shopping recommendations directly in search results. 🧸 The US Postal Service is debuting Santa's Gift Shoppe, an online catalog for purchasing holiday gifts stocked by Toys"R"Us. The new site offers what USPS says is a streamlined experience. 🍊 Tropicana customers are in revolt over an orange juice bottle redesign. Again. OJ fans are frustrated about the new look and protested that Tropicana is ripping them off by selling smaller bottles. 🛠️ ACE Hardware reported third-quarter revenues increased 2.8% year over year to a record of $2.4 billion, while U.S. same-store sales fell 2.2%. Retail revenue for the quarter rose 4.4%. 💳 Americans’ outstanding credit card balances swelled to $1.17 trillion in the third quarter, up by $24 billion from the previous three-month period. That’s an 8.1 percent jump year over year. 📦 The new Trump administration could scrap a sprawling antitrust lawsuit accusing Amazon of acting as a monopoly in the e-commerce industry, notes The Seattle Times. 💵 More than 3 in 5 Americans won’t tip if they order standing up. The resistance increases with age, with 57% of Gen Z saying they wouldn’t tip while standing, compared to 59% of millennials and 66% of baby boomers. 🥫 Food companies are feeling the pressure to return to profitable volume-led growth. Acquisitions of smaller brands are increasingly the answer. However, brands need to be profitable on a per-unit basis to be considered. 🥖 Subway has debuted a new prototype that aims to improve the experience for dine-in customers as well as digital ones. Subway plans to roll out the new design in the coming months. 🚘 In September, the average American buying a new car got a 7.2% discount, thanks to incentives automakers and dealerships use to attract new buyers. In October, the average discount was 7.7%. #retail #retailnews #economy #DailyRetailNews

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As a GOOD AMERICAN customer, I can’t wait to experience the store. 👖As a former merchant, having a digital option to showcase styling, fit and product knowledge would have given me the confidence that my merchandising strategy was being executed in the store without having to physically be on location. 📺This is a great way to make sure teams are product obsessed with the constant graphics and that the visual merchandising / styling options are being showcased at the store. 🛍️To make sure this extension of digital is a success, Good American would need to keep the content fresh and consistent with real time inventory and reflective of the current product assortment. Sales associates would still need to be product obsessed but they would also need to show customers what is possible with the digital screens. The experience should augment and assist the sales associate and not be considered a replacement of staff. 🔹The excitement of finding a product on the screen, loving the look and being disappointed if the item or the size is not available could also drive customers away. GA would need to be on top of their inventory position and have a good handle of managing their inventory across all channels. 🗞️Check out more #BrainTrust comments on RetailWire: https://lnkd.in/eDJp--GF #retail #retailnews #goodamerican #cx #stores #merchandising #TRE #TopRetailExpert

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