Sixty percent of Macy’s value lies not in its stores, brands, or IP, but in the dirt below it: its real estate. That’s not a good bellwether for its existence as is.
Jim Shreve made Baccarat hip. Now, he and his longtime partner, Mark Brashear, along with Sally Burnside, the former Baccarat sales V.P., intend to do the same for DeVine Corp., the 32-year-old distributor of elite European brands. You're invited to the opening!
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Congrats to you all. This is very exciting. Tim, we’ve known each other since before you started DeVine Corp., 32 years ago. You’ve been looking for the right opportunity to retire. TIM ...
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Staff at manor department stores like Saks are finding success with Instagram and social media. The Information shares this:
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Tyler Bell was encouraging all her clients to “tag your bag.” Every time Bell, a Saks Fifth Avenue stylist in Troy, Mich., closed a sale, she asked the buyer to show off their purchase on Instagram and tag her account, @tyler.saks. Bell posts Saks inventory multiple times a day on Instagram Stories. Her 27,000 followers will...
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Here at Shop Local, we’ve seen brands try to cut out indie stores. We’ve seen big-name companies close accounts in good standing and raise minimum annual purchase amounts in the toughest of times in order to cut out indie stores. Well, now some of these brands are back with hat in hand.
Over the last 15 years, brands have been increasingly doing a run-around to bypass their retailers and sell direct. Some brands suggested they’d never have a physical store. Some brands said they’d never have their products sold in another retailer’s physical store. What allowed the brands this hubris? The internet and Facebook. With the internet, brands would have a ‘store’ anywhere the customer is, and with Facebook, they could target them.
That is the question my family posed to me last night during our more-frequent FaceTime conversations.
With the passing Labor Day weekend, students entering their in-person or online school year, and the ending of a strange summer season during a global pandemic, people are looking forward to a time that can bring spirit and happiness to the darkness: the holidays.
But how holly and jolly will this holiday season be in terms of shopping? After all, the holidays are notorious ...
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Many of us will be with our family and friends this Thursday. I'll take a moment then to give thanks to all the indie retailers that enrich our communities. I'll thank the indie designers that fill our stores and homes with beautiful products.
When I'm in my friend's kitchen, someone may say they need a new spatula from Amazon, or after dinner ask Alexa to turn on Amazon TV. When they do, I'll consider those actions in light of the holiday. I'll share why this is important to consider.
Retailers can be separated in to two groups: those whose are making smart choices like Walmart and Best Buy, and those who are not like Macy’s and Nordstrom. Macy’s stock is down 44% this year.
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November 8, 2019
November 8, 2019
From 2,000 stores to 182 stores—that’s how much Sears, the storied retailer that also owns Kmart, has shrunk in just 5 years. That’s a reduction of 90%.
Remember when people said the retail apocalypse was over-rated, or over? With the currents affecting Nordstrom, Neimans, Barneys, and Macy’s, I believe that we’re still in the midst of the storm. And, even after these other retailers close, the remaining ones will have to spend $1.50 for every $1 they take in to compete against Amazon. So, will...
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October 24, 2019
October 24, 2019
Today’s Times shares a nice profile on the Nordstrom family. I didn’t know it was originally called Wallin & Nordstrom.
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August 22, 2019
August 22, 2019
Stores that offer convenience and deals are winning, shares today’s WSJ. Sales at Walmart, Target, and T.J. Maxx are up while they’re murky at Macy’s, J.C. Penny, and Nordstrom. Just offering deals isn’t enough, nor is just offering next-day delivery. A store is going to have to accept smaller margins via deals and convenience offerings. The alternative is: join Macy’s with its 50% stock drop.
Nordstrom’s sales are down 5% and profit fell about $20m.
Kohl’s, which has a partnership with Amazon, ...
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August 19, 2019
August 19, 2019
Nordstrom stock is down 52% in the last 12 months. Only Macy’s stock performs worse in the S&P 500 retail index.
It’s clear that Nordstrom should not have bought HautLook in 2011 and Trunk Club in 2014. In 2016, Nordstrom wrote down the value of Trunk Club by half of its $350m purchase. That’s $175m in value it desperately needed to spend elsewhere to compete with Amazon. Each million dollar mistake today results tens of millions in lost opportunity next year. Mistakes have exponential ...
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May 14, 2019
May 14, 2019
Nordstrom’s sales may shrink 10% due to the Chinese tariff, reports today’s WSJ.
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May 2, 2019
May 2, 2019
Nordstrom is opening two mini-spots the size of a Dunkin Donuts to act as pick up locations for online orders and offer some small services like tailoring, shares today’s Times. This is a vote for online and not a vote for physical retail space.
Imagine helping your brands sell direct and bypass you? That’s what Nordstrom is faced with doing as it gets beat up by Amazon and online sellers. As the Nordstrom CEO, think about the dire straits you’d have to be in to approve this. But since most retailers didn’t plan 20 years ago for the internet tsunami, they’re stuck playing package boy for Wall St. darling Amazon.
I agree that it’s great to get customers in the store—I just wish it wasn’t under these terms. It’s like saying you enjoy ...
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February 27, 2019
February 27, 2019
We post a good deal about Walmart and Amazon. What’s to be made of retailers like Macy’s, Nordstrom, and Neiman’s? It appears they’re just struggling to stay alive, shares today’s WSJ. Macy’s net sales fell 2.5% and it’s even considering new uses for its flagship Herald Square location. One may ask: is a sale of the flagship in the works like what Lord & Taylor did? Macy's could sell the location and lease it back.
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February 6, 2019
February 6, 2019
Saks essentially throws in the towel on cosmetics and moves that department from the first floor to the second. What now greets you? Handbags. The WSJ reminds us that department stores are on the ropes against online competitors, chains dedicated to cosmetics, and changing consumer tastes. Jewelry is now in the basement.
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June 22, 2018
June 22, 2018
Amazon gets you to buy more iPhones, lawn mowers, power washers, and movies by: first selling you bananas. Whole Foods, owned by Amazon, ropes you in with the promise of savings. These banana sales will translate down the road to a tighter grip on all of a consumers’ purchases and result in lost sales for all or most retailers including Best Buy, Home Depot, AutoZone, Nordstrom, and more.
This will likely result in job loss and lower tax revenue. That may put downward pressure on our ability ...
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December 19, 2017
December 19, 2017
Macy’s lost $4.8b in the recent recession.
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