Walter Holbrook’s Post

Another solid quarter for off-price is in the books, with all main players growing Q3 sales over the prior year: 👗 TJX: +6.0% 👚 Ross: +3.0% 🧥 Burlington: +10.6% 👖 Nordstrom Rack: +10.5% Some softness crept in. Ross' growth rate slipped because of merchandising missteps. Comparables at Burlington were shallow (+1%) because warmer weather hindered outerwear sales – an important category for Burlington. But, overall, there’s still expansion and optimism. This quarter adds to the impressive gains made since 2019: just for the third quarter, the main off-price retailers have added a collective $5.6 billion in sales. A shift in consumer habits, with more shoppers seeking value. Physical expansion to cater for this rising demand. Growth in the customer base because of both factors. All have helped. However, a wider point is that execution in off-price is, more often than not, very strong. Buyers are astute. Decision making is smart. Customers are always at the heart of the business. There’s also a culture of realism and common sense. Ross was disappointed with their growth this quarter and CEO Barbara Rentler owned it when she said, “we believe we should have better executed some of our merchandising initiatives.” No excuses, just identifying the problems and remedying them to do better next time. This honesty is one of the reasons off-price wins more than it loses. #retail #retailnews #offprice #apparel #home #trading #economy

The right business models coupled with the strength of their management and seasoned/astute buying teams have fueled the off price sector to be leaders in the industry .

Here's the proof. If you aren't selling into off-price retail, you need to. It's a win-win. Get your slow-moving items out of the warehouse and expose your brand to a wide audience of buyers looking for luxury. Here's the link to a compelling article: https://lnkd.in/eQafj2_5 #off-price #closeouts Overstock Trader

Nordstrom shines bright with its latest earnings report! 🚀 Strong clothing and shoe sales drive impressive growth, surpassing expectations.A clear win for the retail giant as it continues to make waves in the industry. Nordstrom Surpasses Earnings Expectations as Clothing and Shoe Sales Drive Growth View full news : https://shorturl.at/zN4im #Nordstrom #RetailGrowth #EarningsReport #FashionIndustry #ClothingSales #ShoeTrends #BusinessSuccess #RetailNews 

Nordstrom Rack is a retail division of Nordstrom, Inc., an American luxury department store chain. Nordstrom Rack offers discounted prices on a wide range of products including clothing, shoes, accessories, and home goods. It primarily sells merchandise from Nordstrom stores and Nordstrom.com at significantly reduced prices, making it an attractive option for bargain hunters. Nordstrom Rack operates both physical stores across the United States and an online platform, providing customers with access to discounted designer brands and popular items. In addition to offering discounted prices on a wide range of products, Nordstrom Rack plays a significant role in Nordstrom's overall retail strategy. Following a strong recovery in sales during the holiday quarter, Nordstrom plans to accelerate the opening of new Nordstrom Rack stores. The company aims to open 23 new Rack locations in 2024, building upon the 19 added in 2023. At the close of the year, there were 256 Nordstrom Rack stores in operation, accounting for a third of Nordstrom’s overall sales. CEO Erik Nordstrom emphasized the strategic importance of Nordstrom Rack stores during a call with analysts, stating that they represent an excellent investment with a relatively short payback period. He noted that Rack stores serve as a key growth engine for the company, contributing to over 40% of new customer acquisitions. Additionally, expanding the Rack store count supports long-term customer retention, with approximately a quarter of retained Rack customers transitioning to the Nordstrom banner within four years. This emphasis on expanding the Nordstrom Rack concept underscores its significance within Nordstrom's broader retail ecosystem. What are Off-price Retailers? Off-price retailers specialize in selling national brands, designer collections, or promotional goods at discount prices. Off-price retailers are those that buy merchandise at low prices, carry well-established (including designer) brands, and sell merchandise assortments that change quickly and have inconsistent sizes and styles (referred to as broken assortments). by Future Learn #OffPriceRetail #RetailNow #Fashion #NewFormats #Retail Source 1: https://lnkd.in/eq-sZd2K Source 2: https://lnkd.in/ehprEYrz).

Is DTC only a sound strategy? Maybe not. Yes, DTC means higher margins, but don't discount the balancing act of wholesale. The allure of DTC? Controlling the narrative and customer experience. But remember, wholesale offers expansive reach. Exclusivity vs. Accessibility - it's a balancing act. Brands once reliant on DTC are waking up to the undeniable significance of strategic wholesale partnerships to sustain growth It's not about choosing one over the other. It's about striking the perfect balance between. Never undervalue the role of key partnerships in long-term success. #FootwearIndustry #DTCStrategy #WholesalePartnerships #BusinessGrowth #RetailTrends #DesignStrategy #IncreaseRevenue

You get the Maxx for the minimum price. Never the same place twice. These were slogans TJMaxx used back in the 1980s. Both encapsulate two critical features of off-price retail. First, the idea that you can snag a bargain and make your budget stretch further. Second, that you never know what you’re going to find. The principles remain a core part of the TJX – and the wider off-price – business model today. However, another dimension has grown over time: fashion. TJMaxx has steadily built its credibility for stylish finds, and that has helped it recruit an army of new customers - and has spawned the term Maxxinista. It was great to chat with Ryan Baker for his CNBC piece on the secrets of the off-price giant, alongside retail friends Simeon Siegel, CFA and Gabrielle Fonrouge. Link to article in the comments. #retail #retailnews #offprice #fashion #apparel #value #homewares The TJX Companies, Inc. TJMaxx

GUESS?, Inc. announce Q1 growth 👏 The LA-based retail group have revealed a 4% increase in first-quarter revenue, at $591.9m. The strong performance has been credited to surging American wholesale revenues of 21% and high growth in Asia. Licensing revenues also performed particularly strongly with 21% growth. Carlos Alberini, CEO of Guess, commented: "We are very pleased with our first quarter results, which exceeded our expectations for revenues and earnings per share. We delivered revenue growth of 4% in US dollars and 7% in constant currency, driven by a remarkable performance of our licensing and Americas wholesale businesses and strong results in Europe and Asia." "Revenues in our Americas retail business finished flat for the quarter, as we continued to experience softness in certain of our businesses in the region due to slower customer traffic." "I believe our strong results this quarter once again highlight the power of our diversified business model and the strength of our brand and our global distribution.” #News #Fashion #Revenue #Sales #Finance #Q1 #Performance #Growth

The February foot traffic report from #ColliersRetail shows apparel store visits rose by 6.43%, and sales grew by 4.6% (1.4% adjusted for leap year), fueled by spring wardrobe renewals and a shift from department to value and off-price retailers. Click to see more key foot traffic insights from Anjee Solanki and Nicole Larson and data provided by RetailStat: https://ow.ly/7qBY50QX4uQ?

🚨 Retail Alert: Ted Baker, Brooks Brothers, and Lucky Brand are initiating closing sales across Canada. As these iconic brands make tough decisions in our changing retail landscape, it's a stark reminder of the critical need to evolve. In an era where customer experience is paramount, it's not just about transactions; it's about creating memorable interactions. Ralph Lauren's concept of 'the third place'—spaces where customers feel a unique connection—has never been more relevant. 🌟 As some doors close, let's think ahead. How are we engaging with our audience? Are we offering them an experience that makes them return, or are we risking the same fate due to inexperience or neglect? https://lnkd.in/eFk_zQWD ILIA M. John Kerr #RetailIndustry #CustomerExperience #BusinessStrategy #Innovation