Catch up on this week's retail news, including The Jim Pattison Group acquires U.S. chain The Save Mart Companies, Saks owner to buy Neiman Marcus Group, and more! https://hubs.ly/Q02FrgjL0 Get it all on Friday mornings with the #RetailThisWeek newsletter. Sign up here: https://hubs.ly/Q02Frg3R0
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YODA RETAIL | RETHINK Retail Top Expert 2024 | Leadership Development | Merchant | Transformation & Change Coach | Retail Pioneer - Mad Man Era to Today |
Retail Today / Retail Renaissance: TJX the mouse that roared! This amazing off-price retailer dominating the retail landscape, over 4,800 stores internationally, generating $50 Billion in sales! They reported outstanding sales heading into fourth quarter, with a 6% increase. How does TJX do it? A fantastic stable of brands: TJ Maxx, Marshalls, HomeGoods, HomeSense and more. Then they build an organization of “MERCHANTS”, deal makers with a powerful pen. Leadership: CEO Ernie Herrman “apparel sales remained very strong, while Homegoods sales were outstanding”! I remember my first visit to HomeGoods in the 90’s, one of their first stores. Wow! How many could they build and how fast? There’s nothing to slow this company down. #retail #stores #offprice #apparelindustry #retailtrends #retailindustry #retailexperience #shoppingexperience #brickandmortar #brandexperience #deals #merchants #merchandising #tjx #marshalls #homesense #homegoods
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Undifferentiated Retail is Dead: Interviewed by GlobeSt.com for their article on Macy's Downsizing (including closing of iconic Union Square store in SF, and what it says about Larger Retail Trends. https://lnkd.in/gciY8kBg #retail #economy #realestate #retailrealestate #trends #bigdata
Macy's Downsizing Reflects Larger Retail Trends | GlobeSt
globest.com
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Speaker, Author, Researcher and Forbes.com Senior Contributor on Luxury, Retail and Affluent Consumers
Worthwhile listen from The Robin Report for anyone interested in Macy's or department stores in general. I agree with my colleagues Robin Lewis and Shelley E. Kohan that one of the big mistakes then Federated made after acquiring all those local department stores, well established and loved in their communities, was to change their name to Macy's. Retailers may be national, but retailing is local. #departmentstores #retailing #localbusiness
Tony Spring’s Challenge at Macy’s - Retail Unwrapped - from The Robin Report
buzzsprout.com
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IN OFF-PRICE RETAIL NEWS... 🛍️ Discover the Thrilling Rise of Off-Price Retailers! 🚀 Burlington Stores, Inc., Ross Stores, Inc., and The TJX Companies, Inc. banners like T.J. Maxx, MARSHALLS LLC, and Homegoods are setting the retail world ablaze with their unparalleled success! 🌟 With a relentless focus on value and convenience, these stores are outshining department giants and expanding their footprint across the U.S. 💼 Ross Stores CEO Barbara Rentler beams with pride as she shares their soaring fourth-quarter numbers, stating, "Our strong sales were driven by customers’ positive response to our improved assortments of quality branded bargains throughout our stores." 💰 Meanwhile, Burlington's CEO Michael O’Sullivan celebrates a significant milestone with their 1,000th store opening, projecting an impressive $16 billion in sales within five years! 💥 Let's not forget TJX, the undeniable leader in the off-price segment, as CEO Ernie Herrman declares, "We feel there is a lot of opportunity in retail." 💥 With a remarkable 13% sales jump and plans for 100 new U.S. stores this year, the future is as bright as ever for these retail powerhouses! 💫 R. J. Hottovy, CFA, head of analytical research at Placer.ai, reinforces the trend, stating, "This is one of the most popular channels right now," highlighting the enduring appeal of value in today's market. 💼 Marshal Cohen, chief industry analyst with The NPD Group, affirms the shift, noting, "Off-price is second only to the online channel in terms of growth rate." 📈 Join the treasure hunt at off-price retailers and uncover hidden gems while enjoying unbeatable savings! 💎 *** #Business #Retail #OffPrice #ConsumerSpending #Upswing #Growth
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Robert Gorin, Managing Director & Consumer Products Practice Leader, and Charvi Gupta, Director, have been quoted in Sourcing Journal’s latest article, “What Macy’s 150 Store Closures Say About Retail and the Consumer.” The attached PDF (last page) outlines their thoughts on the matter. #Retail #Consumer #StoreClosure #GetzlerHenrich
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𝗧𝗝𝗫 𝗜𝘀 𝗣𝗹𝗮𝗻𝗻𝗶𝗻𝗴 𝟭,𝟯𝟬𝟬 𝗡𝗲𝘄 𝗦𝘁𝗼𝗿𝗲𝘀 (Thoughts from our Founder & CEO) — While many retailers are caving, The TJX Companies, Inc. plan to add 1,300 new stores to its current count of 4,972 spread across 9 countries. With no limitations on brand or category segments, TJX is continually resetting the floor — allowing the retailer to consistently attract new shoppers with the latest merchandise and brands. What else makes up TJX's formula for retail success in our dynamic and unpredictable marketplace? Let's discuss. ➡️https://lnkd.in/eRG4vtVx — Robin Lewis
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As traditional retailers like Macy's scale back physical stores, The TJX Companies, Inc. is strengthening ties with suppliers. CEO Ernie Herrman highlights the increasing importance of vendors in a shrinking brick-and-mortar landscape, hinting at improved margins and expanded market share. In an era of retail transformation, TJX's robust supply chain and experienced buying teams remain key competitive advantages. #LifeWorkSearch #SupplyChainProssionals https://lnkd.in/egd_CEmW
As Macy’s and others close stores, TJX is picking up the supplier base
supplychaindive.com
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Connecting Suppliers & Retailers in the Creative Arts & Home Decor Industries for Better Access and Increased Sales & Profits | 🎤 Podcast Host
To close out the year, Retail Dive has listed 5 retailers that need a strong finish for the year for a variety of reasons. Whether it be leadership turnovers, financial performances, lack of brand awareness, or lack of digital sales, each of these brands has a reason they need to finish strong. These 5 brands - Joann, Express, Quarate Retail Group, Walgreen’s, and Kohl's - will each need to figure out unique and innovative ways to help turn themselves around in these next few months. Read more at the article below! #retaildive #retail #industrynews https://lnkd.in/gyma2nA3
5 retailers that need a strong finish for the year
retaildive.com
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What is 𝐨𝐟𝐟-𝐩𝐫𝐢𝐜𝐞 𝐫𝐞𝐭𝐚𝐢𝐥? How is it different to full price? 👇 𝐓𝐡𝐞 𝐬𝐞𝐜𝐫𝐞𝐭𝐬 on how they achieve great prices Off price retailers are retail businesses that offer merchandise at lower prices than regular retail stores. It is likely they do not have an ongoing range and the offers might be different in different stores. The keen prices are the savings off-price retailers pass to their customers. 𝘏𝘰𝘸 𝘥𝘰 𝘵𝘩𝘦𝘺 𝘢𝘤𝘩𝘪𝘦𝘷𝘦 𝘵𝘩𝘰𝘴𝘦 𝘴𝘢𝘷𝘪𝘯𝘨𝘴 𝘢𝘯𝘥 𝘧𝘶𝘭𝘭-𝘱𝘳𝘪𝘤𝘦 𝘳𝘦𝘵𝘢𝘪𝘭𝘦𝘳𝘴 𝘥𝘰 𝘯𝘰𝘵? 𝐇𝐞𝐫𝐞 𝐚𝐫𝐞 𝐬𝐨𝐦𝐞 𝐨𝐟 𝐭𝐡𝐞 𝐬𝐭𝐫𝐚𝐭𝐞𝐠𝐢𝐞𝐬 👇 1. A mixture of different buying strategies (overstocks, cancellations, tag-ons, irregular items ✅️ 2. Lean operating models ✅️ 3. Creative buying and merchandising approach ✅️ 4. Low maintenance and operational cost ✅️ 5. Low depth, more freshness and high inventory turnover rate ✅️ The biggest off-price retailers in the world include: J. C. Penney DollarTree Burlington Coat Factory Target Corporation Walmart Marshalls Ross Stores, Inc. TJX (in UK - TKMaxx) Stein Mart #merchandising #demandplanning #retail #pricing
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There's been plenty of news about large-format retailers shuttering locations (Macy's, Dollar Tree, etc.), but does that spell doom for retail #CRE? In my latest article for Altus Group, I make the case that it's all part of the sector's ongoing adaptation to the modern consumer: the next "big thing" in retail is going small. Read more: https://lnkd.in/gCQP5QHk #CommercialRealEstate #Retail #RetailClosures
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