April 26, 2017
Selling stuff in an Apple store is nowhere to be found in Angela Ahrendts’ vision for Apple’s retail business, which she is in charge of as its SVP. Her vision of the brand (as I interpreted her words), is that it should be a living, breathing, “human” gathering place, a community whose DNA is shaped to match each unique community it is in, and to determine ways in which it can add value into those communities.
It took the incr...
March 31, 2017
Retail was never just about selling product. Retailers’ value proposition has always included experience and aspiration. The problem of the past 20 years is that good product—and frequently good brands—got lost in the daily fracas of promotional activity and designing into a price point and gross margin.
Retail today is centered around the consumer.
The customer is the channel and data is the solution for a better understanding...
October 21, 2016
The fashion industry won’t get out of its current economic morass by cutting costs and corners, but by creating inspired product that resonates with soul, artisanry and quality, the true linchpins of desire.
In its quest for profits, the fashion industry is creating merchandise that—much like fast food—is tasteless and unfulfilling. We mindlessly acquire and dispose of fast fashion, and then begin the cycle again.
Lecture Series...
October 2, 2016
New York & Company Beats Q2 Estimates on Outlet Conversions
Analysts were looking for break-even results at New York & Company, which recently converted 50 stores to New York & Company Outlet locations. In Q2, the company beat sales and earnings expectations on positive comps (up 0.3 percent) and omnichannel initiatives, and sales growth at the Eva Mendes and Jennifer Hudson lines.
“As we have said previously, we are committ...
May 2, 2016
New York & Company reported 4Q net income of $84,000 versus a loss of $6.7 million in the year ago comparable quarter. Sales rose 1.5 percent and same store sales increased 1.9 percent, achieving its fourth consecutive comp store gain. For fiscal 2015, the 3.1 percent comp gain
was the most robust in the last 10 years with sales psf rising 5.4 percent to $372 from 2014’s $353
level. New York & Company reported a loss per share o...
June 6, 2015
Shoppers at Tiffany are rarely disappointed. The same, however, cannot be said of Tiffany shareholders. The high-end retailer let down investors in January when it reported soft holiday sales and warned the stronger dollar would pressure profits for the year.
The dispiriting news sent shares swooning 14%. The high-end jeweler lowered its profit forecast for the year ended January 31, adding that current issues will also weigh o...
March 10, 2015
On the heels of a strong close to 2014 and annual sales and profits growth of 32% and 28% respectively, Under Armour hosted a meeting with the investment community, addressing its recent acquisitions that, when combined, create the world’s largest digital health and fitness community. Aptly named Connected Fitness, CEO Kevin Plank, along with the leaders of the newly assembled Under Armour digital team and CFO Brad Dickerson,...
January 24, 2014
MK is no LV: It’s Not Coach Either
Is this any way to manage a Jet Set brand? Maybe, if you’re looking for a quick exit.
Listening to Michael Kors CFO Joe Parsons speak at ICR on January 16, 2013 on the Kors Jet Set aesthetic—spanning wings, wheels and water—I was reminded of the brand Louis Vuitton, also rooted in luxury travel. I make the comparison to Louis Vuitton for several reasons, beginning with its origins as a provide...
November 17, 2013
YTD WHR shares up 108% vs. the 57% gain in S&P 500 Household Durables Index
(all data based on Friday Nov 16 closing prices).
NEGATIVES
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Fiscal Cliff
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European Recession
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US Economic Malaise
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FX
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Asian Demand Remains Muted
POSITIVES
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US Housing Rebound
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LA Growth Opportunities
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‘Kitchen Sprawl’ Trend
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Significant Gross Margin Opportunity
Rationalized business model positioned to generate imp...
October 31, 2013
A group of panelists tries to figure out where the retail industry is in the omni-channel evolution cycle.
How we shop and the way we make a purchase is evolving rapidly, we know that. But how is retailing making the most of “clicks” and how is new technology affecting “bricks?”
The RECon session, “Bricks and Clicks: Where Are We in the Evolutionary Process?” tackled just that subject. ICSC Trustee Holly Cohen, SVP-global real e...