Lance Richardson

For BOTI Global Ltd. the #LApreviews have so far been a succes. Now, we look forward welcoming the US/Canadian retailers this coming week for another round before we can pack up an go back home. While both the April and September previews are a long stretch, without any doubt and with all respect for #hongkong and other venues, the LA previews seem more productive under the Californian sun due its length. Not always easy for suppliers who have to spend more time (and cost) in LA, but the return is we have more time for the customers. So if that is the investment we have to make to present a better proposition to our customer base ...well that is what we, toy suppliers, just have to do. And where some win, some others lose. As I have predicted several times #distoy is a dead end road and will likely not happen as 2025/2026. As much as #NYTF will never be the same again. The The Toy Association has finaly realised fighting an uphill battle against the inevitable, doesn't do any good, so a move to LA is now in the making. BUT it hurts their wallet so much. The Toy Association being a commercial driven institute, rather than a non-profit organisation is seeking for funds... For example if you want to book a hotel in El Segundo during the LA Preview in September, guess what...you have to book it through the TA.... that is a bold move from an organisation despising LA for such a long time. A TA focusing on making money first before caring about the industry is in principle wrong. As much as paying its CEO close to 1 mio USD a year is nothing but a disgrace. It is no surprise a new US Toy Association is in the making. And as always, very little is dull in our industry... Thank god. #toys #toyindustry #losangeles #toyassociation #LA James Zahn John Baulch Alfred Kropfeld #toyfair #retail

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Canada Goose Reports Robust Growth for Year Ended March 31, 2024   Canada Goose has posted an impressive performance with a 22% sales growth in Q4, thus beating revenue estimates and exceeding expectations with a C$358 million ($263 million) reported revenue. As a result, stock price jumped 12% in yesterday’s trading. The strong sales momentum in Q4 was driven by excellent retail performances in China and the USA, with sales increasing about 30 % in greater China and nearly 25 % in North America YoY. Full-year revenue grew by 10% to $1333.8 compared to the prior year, with the gross margin expanding from 67% to 68.8% YoY. For the full year, DTC revenue increased by 18%, while wholesale revenue decreased by 16%. The company is focused on boosting Asian sales, a crucial asset for their growth, with over 40% of their stores located there. They have also expanded their physical presence by opening 3 new permanent locations in Q4.   Canada Goose predicts slower overall sales growth for fiscal 2025 but aims to boost profits and margins significantly. The company plans to raise prices in the mid-single digits and increase its margin by decreasing the wholesale channel and prioritizing the DTC channel.   #CXG #CX #customerexperiencegroup #customerexperience #financialresults #canadagoose

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Determining a value-led GenAI strategy is no easy task. How do you start and how do you measure success? Register now for our LinkedIn Live where PwC Canada subject matter specialists will take a deeper dive into assessing the business value of deploying GenAI.

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Retail is tough in Canada and foreign brands discover they can’t assume Canada is similar to the USA or UK. Three of Authentic Brands Group chains are shutting operations in Canada Ted Baker Lucky Jeans and Brooks Brothers Unfortunately this comes on the heels of so many other chains that have shut operations like J.Crew Target to name a few. Personally neither Ted Baker nor Lucky jeans resonated with me. I don’t believe any money was invested in marketing or social media. You can’t win the game if no one cares about your brand. #retail #storeclosures #bankruptcy #canadianretail https://lnkd.in/eznNNHN4

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Love this new initiative that is perfectly timed at the start of my journey with this organization. Check out the article to learn more about ‘Unplug’!

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Today's The Robin Report "undresses" the denim trends & consumers behaviors toward them... (so no more pinch rolled levi's? 😉 ) Takeaway: Retailers that have direct, conversational interactions with consumers and manufacturers will be better positioned to produce what consumers want. Read and Subscribe to get real opinions, insights & more delivered every day. ➡️ https://lnkd.in/eAkYa73Z

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🚀 Let's talk lululemon ! 💬 What's your take on CEO Calvin McDonald's insights into the brand's growth challenges and opportunities? Share your thoughts in the comments! #Lululemon #CEOInsights #EngageWithUs

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Let me start by saying that I love The Container Store. The recent news about their plummeting sales and rock-bottom stock price surprised me, so I stopped by to see what the hubbub was about. I found exactly what I needed and some things I wanted. At the register, I was engaged quickly and friendly with the first question being "do you mind an e-receipt?". No, I don't mind it. Then they handed me a small mobile device to type my email address into to connect to their loyalty program. Why are we using mobile devices when we have perfectly good cash register? Have you all noticed this? Also, I was asked if I want a bag. Really? So I should walk out with an arm full of misc items with no bag? Feedback for my friends...make it easier for customers, not harder! #retail #containerstore #customerexperience

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The The FMCG Guys and I sure covered a lot in a quick 15 minutes! 🩵 A bit of background on Albertsons Media Collective and how far we’ve come … 🩵 A little slice into our #culture 🩵 A discussion on what Retail Media needs to consider as Google depreciates the 3rd party cookie. 🩵 How Brands and Retail media networks should think about expanding into #awareness channels. 🩵 How AI can be used as a tool for #retailmedia and the importance of data cleanliness and data fidelity. 🩵 Looking to Europe as to how to do in-store well.

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The FTC is suing to stop a merger and a potential risk to consumers choices. I believe that Canada would have more competition and better consumer pricing, if we allowed for less consolidation in many sectors from telecoms to grocers and airlines. In other words there would be a lot more competition in choices and pricing. #retailing #strategy #ceo #technology #innovation

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Here are some interesting stories from the world of retail for Thursday, June 6: 🧘🏽‍♀️ lululemon beat Wall Street’s earnings and revenue estimates, but issued weak second-quarter guidance as it contends with a slowdown in the Americas, its largest market. 👕 Hanesbrands Inc. will sell Champion to Authentic Brands Group in a deal worth up to $1.5 billion with performance incentives. Authentic owns brands such as Reebok, Forever 21 and Quiksilver. 5️⃣ Five Below cut its outlook for the year, warning that its core low-income shoppers were facing an outsized impact from years of inflationary pressures. It posted an unexpected decline in same-store sales for the first quarter. 👙 Victoria’s Secret & Co. said it was encouraged by demand for its bras, sleepwear and other clothing in May, but the company said it was exercising restraint amid continued caution more broadly among the US consumer. 🏪 Foxtrot intends to reopen several locations in Chicago in the Gold Coast and Old Town neighborhoods. The news comes after Foxtrot and Dom's Kitchen & Market closed on April 23. 🌳 Dollar Tree Stores Tree said that it had started a formal review of strategic alternatives for Family Dollar, which it said could include among others, a potential sale, spin off or other disposition of the business. �� Walmart is now offering bonuses to its hourly employees in the US., the company announced Wednesday. The longer an associate has been with the company, the higher the associate's bonus potential, to a maximum of $1,000. 📚 In a blow to publishers and authors, Costco Wholesale plans to stop selling books regularly at stores around the United States, four publishing executives who had been informed of the warehouse retailer’s plans said Wednesday. 🚚 Albertsons and Uber have launched a new food rescue initiative that aims to address food insecurity and food waste in several major US cities. The program donates surplus food from the grocer’s stores to local nonprofits. 📸The TJX Companies, Inc., parent of TJ Maxx, Marshalls and HomeGoods, said it’s equipping some store employees with body cameras to thwart shoplifting and keep customers and employees safe. 🍔 McDonald's lost a European Union trademark dispute over the Big Mac name after a top European Union court sided Wednesday with Irish fast-food rival Supermac's in a long-running legal battle. ✂️ The Bank of Canada's decision on Wednesday to cut interest rates from 5% to 4.75% is expected to provide financial relief to Canadians and encourage consumer spending. 🧳 Shinola and Filson parent Bedrock Manufacturing Company has appointed Steve Katzman to the role of CEO and Kevin Wertz as chief marketing officer. 🇦🇺 ALDI Stores Australia is moving into the insurance sector, with the launch of a series of homes and contents, car, and landlord products. #retail #retailnews #economy #DailyRetailNews

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It's been a tough few days for Canadian retail. Store closures, brands 'trying out Canada' and failing, scaling without success... and next up is Ted Baker, Brooks Brothers and Lucky Brand 🇨🇦 I was interviewed by CBC news on what I think went wrong. --> Canada is not an extension of the US, just like France is not an extension of Germany because they share a border. Different customer needs. --> ABG just closed the deal to buy Champion so they have money. Not paying suppliers can't be the whole story. Or the excuse. --> Scaling a brand means investing in building brand loyalty + a merchandising & marketing strategy specific to that market 🗞 🗞 🗞 Liza Amlani, principal and co-founder of the Retail Strategy Group in Toronto, said the pending closures were not surprising to analysts. She said any problems between AGB and its suppliers is not the full story, given the large portfolio of brands AGB looks after. The real issues more likely involve the product mix at the store and a lack of understanding of the Canadian market, she said. "Every province you go in is very different," she said. "Customers are different, they're spending differently, they are dressing differently. So when I see brands coming into Canada without having that investment on the ground, that's where we start to see this sort of unravel." Amlani said Ted Baker did a good job of sorting its product mix, adding dresses, casual wear and athleisure wear, but "brands don't realize that what folks want in B.C. is very different to what customers want in Ontario." "Just like what happened with Nordstrom, that these bigger groups, these retailers, these brands coming into Canada, they think we're just an extension of the U.S., which is absolutely not true." "They're buying these brands because they can get them for cheap, not necessarily because they're using them to make a profit," she said. "I don't think that they're seeing this as a long-term investment. They're taking the intellectual property, the customer data. Data is worth so much more sometimes than the actual product that's selling on discount at these stores." https://lnkd.in/eAW64Dxd #retail #retailnews #tedbaker #stores #ABG Authentic Brands Group OSL Retail Services Paula Duhatschek

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I recently sat down with our ECRM & RangeMe partner Wayne Bennett and discussed how Walmart develops suppliers. We covered everything from recruiting events to resources for onboarding to how we want suppliers to grow alongside us. Check out our conversation below 👇.   #WalmartSourcing #SupplierDevelopment

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'Again a unified retailer' means they have reunified their Clicks (E-Commerce) and Bricks (Physical Stores) after initially separating them to potentially attract investors and unleash value. Interesting and sometimes conflicting wants for Stakeholders (like customers) and Shareholders. Your thoughts? Excerpts: The reorganization affects the retailer as a whole, which as of 2022 is once again operating both e-commerce and physical stores as one entity, the spokesperson said. That is a turnabout from 2021 when parent company HBC announced that Hudson’s Bay would “separate its store fleet and e-commerce business into two separate businesses, accelerating its digital-first transformation.” For that year or so, the online business had operated as “The Bay,” responsible not just for digital retail sales, including via a third-party marketplace, but also brand direction, marketing, buying, planning and technology for itself and the physical-store operations. The company didn’t respond to email and phone requests for more details about why Hudson’s Bay has re-merged its operations. On Wednesday, HBC’s spokesperson confirmed that Saks Fifth Avenue and off-price Saks Off 5th, whose separations were enabled by hundreds of millions in private equity investments, each still run different companies for their e-commerce and their stores. The separation moves were widely seen as potentially making these legacy retail names more attractive to investors and tech talent, though some analysts have questioned the rationale of dividing up operations. Some observers also noted that the breakups could make it easier for the banners to unload some of their real estate. For a time, activist investors pushed Macy’s and Kohl’s to also consider the maneuver; Macy’s explored it but ultimately rejected it. #retail #unifiedcommerce #omnichannel

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Retailers Need A New Perspective: What If a Retail Brand Were a Piece of Clothing? How Does It Remain Appealing? Imagine if a retail brand were a piece of clothing. Over time, it would inevitably wear out in appearance and lose its fashionable appeal. To remain in business, you would have to innovate that piece of clothing in ways unimaginable. Of course, it might seem absurd to think that one brand could survive on a single piece of clothing. But what if it could learn to grow its business on that one item, becoming the best at it and increasing its sales? Expanding to other lines of clothing would then become a substantial path to survival. I strongly believe that the majority of retail brands today become out of touch within a generation. A consumer generation typically spans 15 to 20 years because by the time consumers are 35 to 40 years old, they start focusing on other challenges, such as paying off debt, family, and retirement. Therefore, unless a brand has the ability to renew and reposition itself to target the next generation, it usually becomes outdated within 20 years if it is lucky enough to last that long. To succeed in this competitive landscape, there are basic rules you learn in your first year of a marketing co-op. For example, retailing in Quebec is not the same as in Ontario, nor are British Columbia or Alberta relatable to the Maritimes or the first two. However, variances in merchandising and pricing will make little difference if a brand serves an overcrowded segment or has been impacted by disruptions it could not adapt to. These factors will have only a marginal impact on growth. But there is another critical aspect to consider. I don't believe that many brands today are creating trends in the fashion world. Full Stop! So, let’s return to the analogy that a brand is a piece of clothing. If your friends like it and it makes you feel the way you hoped, it would be aspirational, confident, and purposeful. You would wear it like a badge of honour. How many brands out there can you say are a badge of honour that you would be proud to wear? That is the question every retailer needs to ask themselves. Thanks to Susan Krashinsky Robertson for reaching out. Always great reporting. #retailing #strategy #ceo #technology #innovation #TedBaker #BroooksBrothers

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The shopping experience in Canada sucks. As a self-proclaimed "super consumer" with a keen eye for luxury, I've been continuously disappointed by the Canadian retail landscape. While recent reports suggest growth in retail apparel sales, particularly in the luxury segment, the shopping experience itself often falls short. The number of retail store closures recently – most notably Nordstrom, has served a major blow to the already struggling retail environment. Oddly, Trendex North America claimed that retail apparel sales were growing at a faster rate than overall retail sales. The women’s apparel category grew faster than men’s and standout growth was seen in luxury apparel sales, up +10% in 2023. Two key reasons for this growth appears to be driven by a rebound in tourism and an increase in luxury stores opening across key fashion destinations such as Yorkdale and the Bloor/Yorkville stretch. The strength of the USD makes shopping Canada-side more attractive, but what about us native Torontonians looking for an exclusive shopping experience? It simply doesn’t exist. Now transparently, I am not like most consumers. I thrive on the thrill of the hunt. Finding hidden gems and luxury items at off-price retailers has become my personal shopping superpower. In fact, my passion for this niche even led me to build a thriving Instagram community in 2019, where I share my adventures with like-minded individuals (will share my secret handle if asked) 😉 The reality is that the retail environment in Canada has become extremely consolidated. Holt Renfrew, Saks 5th Avenue and to an extent, Simons are the only true destinations for luxury goods in Canada. This is not good for the consumer as it limits competition thereby reducing pricing pressure which means less enticing promotions for the end consumer. Retailers are also making safer bets when buying resulting in an experience devoid of imagination and passion that we crave. The upcoming opening of Simons at Yorkdale mall is reassuring. Their strong online curation of diverse designers and styles has me eager to see how it will translate to a physical retail experience. Perhaps this will be a catalyst for a more dynamic and exciting luxury retail environment in Canada. ******** What are your thoughts on the current state of luxury retail in Canada? Are you a fellow "treasure hunter," or do you prefer a curated shopping experience? #retail #shopping #luxury

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Data isn’t a savior for brand irrelevance. Data won’t fix changing shopper behavior. And synthetic data will upend existing datasets as tens of millions of shoppers and transactions can be modeled by AI. The challenge is that marketers have lost the brand narrative chasing data. The 200+ brands that emailed me yesterday are chasing a conversion, not building a brand. They have all the data they need and yet none of the relevance. This drives up the cost of attention making most media investments unprofitable. Keep sending, maybe one day the data will convert. Or, maybe shoppers just don’t care.

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