Retail Council of Canada’s Post

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

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

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

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

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

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

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

Macy's on the tightrope? With the eCommerce wave crashing over traditional retail, Macy’s and its department store comrades are dancing between adaptation and obsolescence. The stakes? Billions. I've got to say, I agree. The writing's been on the wall for a while now. The digital transformation isn't just coming; it's here. It's reshaped our expectations as consumers and redefined what convenience and choice mean. For giants like Macy’s, this isn't just a challenge. It's a do-or-die moment. The future for department stores isn't doomed. But it's definitely demanding. It's a call to innovate, to meet customers not just on the sales floor but wherever they are online. Adapting isn't just about surviving. It's about seizing the opportunity to redefine and dominate in a new retail era. So, what's it going to be? Will Macy’s pivot and thrive, or will they miss the mark and fade into retail history? One thing’s for sure, the next few years will be worth watching. Check this out: https://lnkd.in/gEmXFxGm

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

Macy's Inc. (NYSE:M) reported stronger-than-expected sales and earnings in the second quarter but held guidance reflecting a cautious economic outlook. “In the second quarter, we delivered better-than-expected top and bottom-line results,” said Jeff Gennette, chairman and chief executive officer.  “Our teams surgically implemented clearance markdowns and promotions to effectively clear spring seasonal receipts and ensure fresh assortments for the fall and Holiday seasons.” The department store chain, which owns Bloomingdale’s, reported sales in the quarter to July 29 of $5.13 billion, down 8% on the year prior, but above expectations of $5.09, while adjusted diluted EPS of $0.26 was down from $0.99 a year ago, but ahead of forecasts of $0.13. Store sales fell 8%, digital sales decreased 10% and like-for-like basis sales slipped 8.2%. More at #Proactive #ProactiveInvestors #NYSE #M #Macys http://ow.ly/EsAB104RRmv