Jenny MacKinnon

ICSC 🏬 July Store Expansion Highlights 🏬 Retailers and restaurants made significant moves in July, expanding their footprints and launching new formats. Here are the key updates: UNIQLO: The Japanese apparel brand is opening four new stores in Canada, targeting Toronto, Mississauga, Brampton, and Langley, aiming for 200 locations in North America by 2027. Chick-fil-A Restaurants-fil-A: The beloved chicken chain plans to increase its presence in Puerto Rico, expanding from 5 to 20-25 restaurants by 2030. Humana at Walmart: CenterWell, part of Humana Inc., is set to open senior-focused primary care centers at 23 Walmart Supercenter locations across Florida, Georgia, Missouri, and Texas. BIRKENSTOCK: The iconic sandal brand opened a new two-story store in Paris and plans additional stores across major European cities. Cilantro Taco Grill: This fast-casual chain has secured agreements for 110 new locations, with a significant focus on Florida. Ace Hardware Corporation: Celebrating a milestone with 5,000 U.S. stores, marked by the opening of Fixit Ace Hardware in Roswell, GA. Qdoba Restaurant Corporation: Announcing a 30-unit expansion deal in the Carolinas with Thrive Restaurant Group, aiming for completion by 2028. The Wendy's Company: The quick-serve giant is set to enter the Republic of Ireland and Romania, part of a broader plan to expand across Europe. MANGO: Launched its teen-focused store concept internationally, with the first store opening in London. IKEA: Opening a new location in the iconic 570 Fifth Avenue in NYC, part of a prime retail and office tower. These expansions highlight the diverse strategies and ambitions of brands in the global market. #RetailExpansion #StoreOpening #RetailNews #GlobalRetail #BusinessGrowth #ICSC

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Where I'd be if I wasn't here at Secret Linen Store. I have always loved fabrics and threads. When I was at school, I so wanted to be a fashion designer. I loved clothes and dressing up. I raided my (very cool) Mum’s wardrobe, collected piles of Vogue magazines, and always thought that fashion would be my thing. Fashion, to me, was not just about clothing; it was art, everyday creativity, a way to communicate and express myself. You can imagine how an 80’s teenager embraced pattern and colour in clothes. So, off I went, got myself on an Art foundation course and hunted out the fashionistas to forge my career in clothing. Quite quickly, I realized that I was not one of the fashion gang, far too scruffy and instantly more interested in the creation of the actual fabrics than the garments themselves. Fashion is hard, grading and pattern cutting, fitting onto actual people. When I discovered that home textiles was an alternative route, I was off to university to study that, and have never looked back. Making bedding and cushions, the fabric comes first, the thought and innovation goes into the design and construction of the fabric. Hemming is in straight lines too, another very important reason to choose home textiles. Today I am so glad that I chose textiles over fashion and ended up creating our Secret Linen Store. I can still play with colours, textures, and patterns, but colouring in beds instead of people. I will never tire of fabrics and threads and the endless possibility that they give us. It's good to have an idea of what you want to do when you are young, but if I could talk to my teenage self, I would say don’t be afraid to change path, at any point in your career. It's never too late to find the thing that fits you and if you find a job you love… #entrepreneurship #makingthingsbetter #femalefounder #creativebusinessfounder

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Canadian outerwear brand Canada Goose grew a solid 10% in FY24 with gross margin increasing from 67% to 68.8%. The foundation of these results is  DTC growing  Wholesale revenues decreasing  14 new stores and 3 temporary stores converting to permanent in the year Revenue for the brand is still heavily skewed to H2 v H1 (75% v 25%) From a product perspective:  Launched nine collaborations in fiscal 2024 Grew Non-Heavyweight Down sales from 43% in FY23 to 46% in FY24 Launched first sneaker line: the Glacier Trail After heavy criticism for their use of fur just a few years ago, Canada Goose looks to have turned a corner. One to watch. #CanadaGoose FY24 Highlights 📈 Revenue increased +9.6% to C$1.3bn 📈 DTC revenue increased +18% to $950m 📈 Wholesale revenue decreased -16% - due to lower orders and streamlining of wholesale segment 📈 Other revenue increased +97.2% to $70m - this includes sales to employees with the expansion of the employee purchase program. 📈 Gross margin 68.8% (up from 67% FY23) 📈 Inventory at year end was $445m 6% lower than the previous year 📈 SG&A expenses for FY24 rose to C$792.9m, up from C$667.6m FY23 🏭 Revenue by region: Canada $246m US $324m Greater China $422m APAC excl Grt China $84m EMEA $256m 🏭 Sales by channel; DTC $950m Wholesale $312m Other $70m 🏭 Retail Stores (average sales psf $3963) Canada 9 US 16 greater China 26 APAC excl Grt China 8 EMEA (incl LATAM) 9 FY25 Outlook ✅ Total revenue to grow in the low-single-digits year-over-year, with an approximate 25%/75% distribution split between 1H and 2H of fiscal 2025, respectively, which is relatively consistent with fiscal 2024. ✅ DTC comparable sales growth in the low-single-digits year-over year, and incremental revenue from three new stores and four concession-based shop-in-shops to contribute to DTC revenue growth. ✅ A 20% year-over-year decrease in wholesale revenue due to a tightening of our wholesale order book to largely offset the benefit contributed by DTC revenue growth and the planned pricing increase. ✅ Consolidated gross margin percentage to be similar to fiscal 2024. ESG  Sustainability goals 🌎 Move all packaging to more sustainable solutions by the end of 2025 - Progress; As of September 2022, CG has stopped the purchase of regular LDPE polybags , and moved to purchasing 100% post-industrial recycled polybags . 🌎 Eliminate single-use plastics that we cannot recycle in all facilities we own or control- Progress: All Canada Goose retail stores ended the purchase of any single-use plastics. 🌎 Purchase only PFAS-free Arctic Tech fabric (PFAS are often referred to as the ‘forever chemicals’ because of their extreme persistence in the environment)- Progress: Completed 🌎 In FY 23, 97% of all leather purchased was Leather Working Group-certified (PRMs = Preferred fibres and materials) 🌎 Ended the purchase of fur in Dec 2021 and ended the use of fur on products in Dec 2022

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Hey Canada - apparel retail sales are very strong! A new report by Trendex North America, a marketing research and consulting firm, said Canadian apparel retail sales growth slowed in 2023, but certainly well exceeded the reported 2.2% in total retail sales last year. Comp ⬆6.8% in specialty apparel, meaning inflation was not keeping the consumer away. Women's apparel increased at a faster rate than menswear. Total sales $37.6 billion in 2023. The economy is resilient and solid when consumers are spending. Bank of Canada's monetary policy combined with strong federal fiscal policy in an already strong Canadian economy avoided recession and we will see more of the fruits of this labour through 2024 - 2025. "The report said the specific growth rate cannot be determined as Statistics Canada changed during 2023 its methodology for reporting apparel sales. But what can be determined by Statistics Canada’s new data set are: Apparel sales totaled C$37.6 billion in 2023; Sales in apparel specialty stores increased a strong 6.8 per cent; and Women’s apparel sales increased at a faster rate than men’s sales." https://lnkd.in/g_-YEB-4 #Retail #Apparel #Fashion #CanadianEconomy

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Often we forget the power of recognition. In a recent survey from Zippia 80% of employees would work harder if they felt better appreciated. “Great coaches instruct their players to, when they score, immediately point to the teammates who created the scoring opportunity. Acknowledging each player’s contributions and cheering for each other powers the entire joy-success-joy cycle.” How will you recognize the score today and bring the joy to your teams?

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Our most popular post from last week. And for good reason. If you're in #retail, you already know you're only as good as your District and Store Managers are. It's (finally) time to give them the training they need to succeed. Without hesitation, I can say these are the best #training programs we've ever developed. The secret sauce? A creative, effective and impactful learning journey each week. Learn. Apply. Accountability Sharing.

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I recently stumbled upon an insightful and highly useful interview with Lia Grimberg, MBA. I highly recommend giving it a read for valuable insights. Here's the link: https://lnkd.in/gtvuWr8r In essence, maintaining customer engagement and consistently delivering value are paramount. Rather than viewing loyalty programs as inherently flawed, it's an opportune moment for reinvigoration. In this post, I aim to present various strategies to enhance customer experiences: 1. The human brain processes visuals more swiftly than text. Therefore, consider incorporating more video content, such as explanatory or promotional videos. Creating captivating videos doesn't necessarily require large budgets; the crucial aspect lies in the message conveyed to your audience. 2. Social media is a potent tool. Engage your audience in dialogue through stories and posts. Depending on your products or services, invite them to share about their day and complement it with a limited-time offer. Encouraging interaction fosters a sense of community and strengthens brand-customer relationships. 3. Swiftly respond to customer comments, especially negative feedback. Demonstrating attentiveness to concerns not only resolves issues but also showcases your commitment to customer satisfaction. Such proactive engagement can attract new customers impressed by your brand's responsiveness. Thank you for reading my post! I hope you have found it helpful. #marketing #loyaltyprograms #taregtaudience #strategies #socialmedia #contentstrategy #feedback #customerengagement #retail

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Valuable insights for professionals in Retail! Check out these helpful tips, reshared for the benefit of my network. #ProfessionalDevelopment #IndustryInsights"

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With the takeover bid for Macy’s simmering away, there has been a lot of focus on the merits of public versus private ownership of retailers – especially legacy players like department stores. One of the big problems with public ownership is short-termism. Most investors want quick returns, and they expect fast progress on initiatives. This pressure isn’t always a bad thing, but it can drive short-term decision making where executives are so focused on the next quarter that they lose sight of longer-term goals. Capital investment can also be an issue, especially if it is directed to things that markets don’t hold in favor. The negative reaction of many when Target announced it was investing in stores is a case in point – although Target’s spending has now been thoroughly vindicated. Private ownership allows for more considered decision making, and it allows for longer term planning. But neither is it a savior. Without the pressure and scrutiny of markets it is very easy to become sluggish and complacent. The Nordstrom family is, no doubt, conscious of all these arguments as they finalize their bid for taking the iconic chain private. Their success hinges on convincing the committee assessing the privatization of the fair value of their bid, and that it beats any competing offers. My view is that the family will have to pay a fairly hefty price to make this deal go through. Ultimately, as a private company Nordstrom will face exactly the same issues as it does now. However, the response to those challenges may be different, and more flexible, and that’s what will ultimately determine whether or not privatization improves the fortunes of the chain. More of my thoughts are in this piece by Just Style... https://lnkd.in/gQCDhGa3 #retail #retailnews #departmentstores #Nordstrom

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So many good points that key in on agile leadership!

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I know in the retail environment, things have changed since the pandemic. I've seen the manager burnout more times than not, heck, I've been burnout myself. It does effect the engagement of managers and will continue to impact organizations. Corporate leadership that understand this and take steps to influence better culture for managers will see tremendous ROI. #retailleadership #burnoutisreal #leadership #culture

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Back at it with the one and only Grant Gustafson talking about AI, ML, and how retailers can narrow their focus when there are so many buzz words, bells and whistles, and shiney things capturing attention in the tech space these days. Grateful for the insight provided from Amanda Templeton and Kalani M. and the info they gathered during their time at Shoptalk back in March to help guide the discussion. The major theme? Retailers continue to want to make investments in tech that help empower associates to make their jobs easier so they can focus on the most important thing: The customer. But what they’re truly looking for is the easiest way to aggregate, digest, and drive action from that data to truly move the needle.

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This memory from 7 years ago still resonates today. Visual merchandising has always been my passion, especially the impact it has on driving sales per square foot in stores. Creating displays that captivate customers, sparking curiosity and driving sales, is what drew me to the world of retail. #VisualMerchandising #Retail #PassionForRetail

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In our whitepaper, "Redefining Retail: Crafting Your Journey Towards a Perfect Store Strategy," brands learn how to: - Evaluate perfect store success potential - Build a picture of success - Implement a scorecard system  - Create a field rep workflow and store tracker Download here: https://lnkd.in/eMAs5FNu

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Why work at Lululemon? Great question and while I could cut and paste a well written message from corporate about who we are and why we do what we do I want to speak directly to those who have been in #Retail or those working a #corporate career that miss people. I am a fan of working in reality and here are some quick take aways that I hope resonate with you. 1. Inventory is all through RFID. So whether that is accepting in shipment or product counts. Maybe you've had to run around in circles looking for a single item before. All product is accepted by a wand. Finding product is like using a metal detector. It just beeps for you wherever it may be. No special late night with a 3rd party company recounting(?) all the things you just counted two or more times. 2. Real and Consistent education. New Products, New Procedures and Policy, Even if you want to expand your career its always updated and scheduled. You are not only given time to learn but the expectation is that there is constant education. All with the mindset to help you grow. 3. Actual Work-Life Balance Schedule is posted over a month in advance with no longer than 8 hour shifts. True part time or full time hours. You won't be hired on and there is a secret expectation that you'll be there for 53 hours. Not to mention they will tell you if there is any black out periods way in advance so use that vacation time. It's encouraged even. 4. Real Inclusion and Diversity A whole division of the company devoted to equity for everyone. This is a personal favorite. I've worked too many places where inclusion and diversity was set by one human resources person holding a singular perspective. Having an entire division of the company providing input and clarity to our complicated world is amazing and it shines throughout our culture. 5. Our culture. Ok I know this is where it starts to sound like an "Ok here we go.." kind of statement but it's true. There is a top down alignment on how we treat each other and Guests that resonates and creates a very different experience. Our customers/guests recognize that we are different and what we do to make their experience better. With that our relationships with our Guests is very different than what I've had with other companies. Even though we are a very large company every day I have moments that feel like a small town regular has walked in even though they are passing through on vacation. It's honestly special. So if you want to try us out or any of the other amazing opportunities world wide heres a link to start. https://lnkd.in/e7Natk4Q

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Here are some interesting stories from the world of retail for Saturday, June 15: 📦 Kohl's is introducing a Return Drop service to stores nationwide: in addition to its Amazon partnership, the department store will now accept returns from brands like Carhartt, Hanes and Levi’s. 🎯 Target's total US retail market share, including online and store sales, has shrunk in categories that generate over 60% of its revenue. An indication the chain needs to work harder to retain customers. 👖 Superdry has avoided insolvency after shareholders voted to approve a £10m equity raise underwritten by chief executive Julian Dunkerton. The fashion brand said the deal provides enough liquidity of a turnaround. 👚 Secondhand apparel marketplace ThredUp is continuing to experiment with charging sellers a fee to send in items, as part of a strategy to fill its marketplace with higher-quality items. 5️⃣ Five Below’s net sales surpassed $3.5 billion in 2023, more than double five years ago. Despite an impressive few years of growth, things have taken a turn for the worse in 2024 and stock fell to a year low in the first week of June. 👗 Torrid CEO Lisa Harper said during an earnings call that the company is evaluating its brick-and-mortar footprint and wants to move to a 50-50 split between mall-based and non-mall locations in the future. 🕹️ Over the past two years, Hasbro has suffered from weaker toy demand, leading to layoffs and declining sales. But analysts at BofA said Wall Street hasn’t appreciated the potential of the toy maker’s digital-gaming business. ⛽️ Exactly two years ago Friday, gasoline prices peaked at a record of $5.02 a gallon nationally. Gas prices today are not cheap – but they are miles away from that point with the he national average for regular gas at $3.46 a gallon. 🚙 Advance Auto Parts said a hacker had accessed and was selling certain data that may contain Social Security numbers of job applicants and employees. 📉 US consumer sentiment fell for the third consecutive month in June, as Americans expressed concerns about their finances and persistent inflation, as per a University of Michigan survey. 🚫 SHEIN has unexpectedly canceled its upcoming pop-up store in Perth, Australia, scheduled for June 21 at Lakeside Joondalup Shopping Centre, just weeks before a new tax on fast fashion items takes effect. 🇶🇦 With Eid al-Adha approaching, retailers in Qatar are offering a wide range of promotions and discounts to attract shoppers. Discounts of up to 50% are being offered on clothing, shoes, accessories, and watches. 🏬 Thai retailer Central Group has agreed to acquire the remaining assets of KaDeWe Group, a chain of landmark department stores in Germany. 🐖 American hog farmers are betting on cash-strapped consumers to drive demand for pork as beef prices surge. #retail #retailnews #economy #DailyRetailNews

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Associates Week Day 4 wrap up - We are common people doing uncommon things Today I participated in the most bizarre business meeting of my career. We (Canadian team) had a 2.5 hours meeting with our C-level team, part of it dedicated to a Q&A session. I was expecting shop talk. Oh boy, I was wrong. The meeting was about personal histories. They shared theirs, a bunch of us shared ours. A reminder of what we all are - people trying to do their best, succeeding sometimes, failing sometimes, needing encouragement when we feel afraid, feeling the pressure of multiple demands and the excitement of helping other people grow; we are in paths that are not the result of a well defined plan, but are forged as we go and life happens. #shareholders2024 #shareholdersCA2024

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