Many years ago, as a new assistant at Lord & Taylor, the buyer cautioned me to not get too attached to people or merchandise. His wisdom was not cold-hearted, but a cautionary tale to keep emotional attachments in check. I was there to deliver strong financial results and if something wasn’t selling, I shouldn’t harp on it, but mark it down and move on. And, as far as work relationships were concerned, I should be a good coworker but not get attached to colleagues.
While we’re hiring, some of our customers are still struggling within the retail environment. One client, Cathy Hulgan Designs, is closing because the new landlord wanted to double the rent and asked for a long-term lease. Cathy was a big proponent of ours. I am saddened by her store's closing. I’ll miss her.
I’ll note that her situation did bring to mind the merit of offering digital services and Bridge’s business model. Unlike a rental retail space in a strip mall, ...
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Alec MacGillis shares in the Times how online shopping and Amazon in particular are wrecking havoc on retail.
Highlights:
Nationwide, 9,800 stores shuttered in 2019, among them 220 Sears stores.
Analysts predict that brick-and-mortar store closures could reach 25,000 by year’s end.
J.C. Penney, Neiman Marcus and J. Crew filed for bankruptcy, Macy’s furloughed nearly all of its 125,000 workers for months, and countless independent businesses have closed for good.
Irony: old analog retail is literally being replaced by new tech. Todayâs WSJ shares that retail space that used to belong to Lord & Taylorâs midtown flagship may become Amazonâs NYC office space. In the East Village, Facebookâs HQ recently took over Kmartâs entire third floor, shrinking Kmart from three floors to just two. Thatâs a 33% contraction, which mirrors the contraction of physical retail and the growth of digital platforms like Amazon and Facebook. Note: Lord & Taylor, Kmart, and many ...
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February 27, 2019
February 27, 2019
We post a good deal about Walmart and Amazon. Whatâs to be made of retailers like Macyâs, Nordstrom, and Neimanâs? It appears theyâre just struggling to stay alive, shares todayâs WSJ. Macyâs net sales fell 2.5% and itâs 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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May 21, 2018
May 21, 2018
The future of retail is platforms. And Walmart selling Lord & Taylor on its platform supports this.
Have you asked your landlord for a break on rent yet? Retail rents are going downâby 20% in parts of NYC.
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April 2, 2018
April 2, 2018
Hackers installed software on Saks and Lord & Taylor cash registers. Whatâs notable is that the hack didnât affect the companiesâ websites. The hackers may have used the web (most likely via phishing emails) to infect the good olâ âanalogâ cash register. This crimes mixes new and old tech.
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November 11, 2017
November 11, 2017
Did you know that customers can take their Amazon returns Kohlâs? Well, now you can take your Lord & Taylor returns to Walmartâs 4,000 stores. Weâre seeing more and more businesses choose sides with either Amazon or Walmart. Which side are you on?
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July 11, 2017
July 11, 2017
Amazon Prime Day has become a national holiday for the entire retail industry.
Here are the Prime Day deals Amazon didn't want you to see.
Here are the Prime Day deals Amazon didn't want you to see
Amazon Prime Day has become a national holiday for the entire retail industry. Kicking off its third annual Prime Day on Monday night, Amazon (AMZN) is offering new deals as ...
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April 17, 2017
April 17, 2017
From Sunday's NY Times, this article highlights how retail is at a tipping point with the shift from brick & mortar to e-commerce. While it is a big concern to all, we have you covered: Bridge has helped its retailers process 32% more in sales over the last year vs the year before. Bridge's mobile retail software has seen an increase of 55% year over year. As the retail landscape continues to shift, we are moving right along with it.