Mitch Maggart

Target reported a rather soft first quarter, with declines in sales and revenue that reflect overall shopping habits. Although the retailer didn’t open the year with a bang, it is setting up for growth later in the year through new initiatives and, hopefully, in a more conducive selling environment. #retailsales #target

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Throughout my experience as a sales professional at #mattressfirm, I have come to realize that this company truly equips you for remarkable success with its core philosophy. Our approach to the Customer Journey revolves around prioritizing the customer's needs, and our Noble Purpose encapsulates it perfectly: "Help Folks Sleep Well, to Live Well." When you have a genuine passion for your work and strive to improve the lives of your customers through sleep solutions, financial rewards naturally follow. I often refer to my role as being in the "People Business" because I thrive on building relationships, establishing rapport, gaining trust, and engaging in meaningful conversations. #peoplebuisness #mattressfirm #leadership

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#podcast #retailleadership #retailgrowth Welcome to "From Store Assistant to Store Manager: Mastering Retail Leadership," your ultimate guide to climbing the retail career ladder. Whether you're starting as a store assistant or aiming for a management position, this podcast is designed to help you succeed at every level. We'll dive deep into the essential skills and competencies required for each role, from providing exceptional customer service and mastering communication as a store assistant to strategic planning and financial management as a store manager. Join us as we explore actionable insights and practical advice for career advancement. Learn how to demonstrate leadership, handle complex customer issues, and develop your team. Hear from an industry expert and successful retail professional who shares their experiences and tips on what it takes to excel and move up in the retail world. Tune in to discover how to navigate your retail career, gain the necessary skills, and unlock new opportunities. Whether you're looking to enhance your current role or ready to take the next step, this podcast equips you with the knowledge and confidence to achieve your career goals in the dynamic world of retail. https://lnkd.in/eqND6RJq

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What if a single store visit could be your stepping stone to a big promotion? This isn't a hypothetical for some retail leaders; it's their resume. 🚀 Yolanda Vega Director of Stores (Southeast & Central US) at Zadig&Voltaire was once promoted after a remarkable store visit. Fun fact: So was I. With over two decades of retail leadership at brands like Gap, J.Crew, and Ralph Lauren, Yolanda has carved out a reputation for transforming store environments into stories of strategic vision and success. 🛍️ 🎯 In this week’s episode of FRONTLINE FRIDAYS, Yolanda and I dissect strategies and preparation techniques that ensure store leaders not only perform exceptionally during these visits — but also how directors can coach their teams to take ownership of their roles and become champions of their own stories. ✅ Click “ATTEND” in the link below to join us live on Friday or to receive the replay in your inbox. See you there! #RetailLeaders #RetailInnovators #RetailOperations #LeadershipTraining #StoreSuccess #RetailInnovatio

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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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In this new Wisdom With, I get a chance to garner valuable insights from James Jackson who leads strategic development efforts for the Category Management Association and his thoughts on better retailer and buyer engagement. 💡 Understand your Category Manager/Buyer ↗ Retailer Category Managers are charged with meeting P&L objectives and not YOUR specific brand goals. ↗ Each individual brand (and item) must clearly serve a purpose and contribute to achieving his/her objectives. ↗ Learn their how they like to receive information and tailor accordingly. Avoid off-the-shelf presentations that lack any customization for the specific customer in mind. Canned pitches have a low success rate. 💡 You Must Be Compelling ➡ Weave great insights and your product offering into a clear solution that helps address their specific category or business objectives. Compelling stories should have: 👉 A recognizable conflict (example: “50% of shoppers in this category are struggling to find an x product to relieve this symptom”) 💪 A “hero” (your brand) 👊 A believable and profitable resolution (example: “By solving the conflict, it would bring an incremental $1M in margin to the category”) 💡 Help Drive Execution ↗ Your Customer is buried with data, multiple projects, and is continuously putting out a fire. ↗ Your goal shouldn’t stop at getting distribution, it should be to STAY in distribution. 💡 Assist your Category by making effective implementation easy. ↗ Recommend the POG changes and do the work in advance ↗ Target a smart cluster of stores to launch for higher likelihood of success ↗ Create a strong promotional plan to drive immediate proof of performance ↗ Offer sales/broker support to get things rolling #wisdomwith #betterperformance #retail #merchandising #data #storytelling

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As a GOOD AMERICAN customer, I can’t wait to experience the store. 👖As a former merchant, having a digital option to showcase styling, fit and product knowledge would have given me the confidence that my merchandising strategy was being executed in the store without having to physically be on location. 📺This is a great way to make sure teams are product obsessed with the constant graphics and that the visual merchandising / styling options are being showcased at the store. 🛍️To make sure this extension of digital is a success, Good American would need to keep the content fresh and consistent with real time inventory and reflective of the current product assortment. Sales associates would still need to be product obsessed but they would also need to show customers what is possible with the digital screens. The experience should augment and assist the sales associate and not be considered a replacement of staff. 🔹The excitement of finding a product on the screen, loving the look and being disappointed if the item or the size is not available could also drive customers away. GA would need to be on top of their inventory position and have a good handle of managing their inventory across all channels. 🗞️Check out more #BrainTrust comments on RetailWire: https://lnkd.in/eDJp--GF #retail #retailnews #goodamerican #cx #stores #merchandising #TRE #TopRetailExpert

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Since 2019, Kohl's sales have shrunk by $2.3 billion. That’s a pretty terrible number given consumer spending on retail rose by a dramatic $1.3 trillion over the same period.     The Kohl’s losses are a combination of existing customers spending less and the complete defection of some shoppers. Over the past five years, Kohl’s has lost 1.3 million customers: people who used to visit Kohl’s, but now they don’t. Most of these folks still buy things so it’s interesting to see where they’re now shopping, or shopping more at, instead of Kohl’s. The diagram below traces the defections. The most notable thing is the gains being made by off-price retailers. TJX – with its TJMaxx, Marshalls, and HomeGoods banners – is picking up a lot of trade. Ross, Nordstrom Rack, and Burlington are also in the mix. It’s no wonder off-price is doing so well when it’s gaining so many customers from chains like Kohl’s. What’s also notable is that online specialists don’t dominate. Amazon has picked up some trade, as has Wayfair, but neither are the main beneficiaries of Kohl’s woes. This underscores that the very simplistic narrative of ‘online killed…” is often far from the truth. It is also significant that Costco makes an appearance. Costco is a silent assassin. Many retailers don’t have it on the radar for non-food; but the reality is that Costco has a formidable non-food business. Retailers like Kohl’s don’t underperform because one large enemy comes in and swoops away all the custom. Their substantial loss of trade comes from many players nibbling away at their sales and market share. #retail #retailnews #departmentstores #wholesale #shoppers

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ELEVATING RETAIL MANAGEMENT : LEARNING FROM WALMART Running a Walmart store isn't just about managing products and employees—it's a multifaceted role akin to being the CEO of a small business combined with the responsibilities of a local leader. With 'Supercentres' larger than some competitors and a diverse array of services, Walmart's store managers manage a significant scale of operations, supervising hundreds of employees and generating over $100 million in annual sales. However, Walmart faced a major challenge : High attrition rates among store managers, which is an expensive affair. Losing these leaders also meant losing valuable institutional knowledge and community influencers. To address this, Walmart implemented a series of initiatives aimed at enhancing retention and reducing turnover rates, ultimately improving the work-life balance for its managers. Here's how Walmart tackled the issue: 1) STREAMLINING OPERATIONS WITH TECHNOLOGY : a) Introduced the Me@Walmart app , transforming managerial tasks by tracking sales, inventory, and staff schedules efficiently b) Implemented the VizPick app for scanning hard-to-reach shelves and flagging product availability statuses: in stock, low, or out of stock. c) Deployed a P&L app for simplified tracking of sales, profits, and other vital metrics, replacing manual recording methods. 2) ENHANCED COMPENSATION & INCENTIVES : This year Walmart revamped compensation for its store managers, offering higher pay and stock incentives. The change includes substantial pay increases, with an average base salary raised to $128K from $117K, along with an annual stock grant of $20K Notably, Walmart now factors in store managers' profit generation, not just sales, when calculating bonuses 3) MERCHANDISING :  While decisions are managed from HQ, Walmart shifted gears, empowering store managers to shape product selection and sales strategies. This move helped drive a culture of innovation, creativity, autonomy, and adaptability at the store level. RESULTS SPEAK VOLUMES : These initiatives improved staff retention, lowered turnover, and enhanced managers' work-life balance, setting the stage for expected surge in store sales. Walmart is set to launch new 'Supercentres' for the first time in approximately two years and has ambitious plans to expand 150 stores within the next five years. In today’s competitive landscape, Walmart's strategy serves as a beacon for many retailers, emphasizing the importance of investing in and prioritizing the well-being of management teams, while also embracing innovative technology to drive sales. #RetailManagement #Leadership #EmployeeRetention #Walmart #InnovationInRetail

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🧠📚 Mindset Journal There are plenty of reasons micromanagement fails. Want to increase morale, reduce turnover, increase productivity, prevent burnout? Try incorporating these phrases into your conversations this week. Here are 10 of my favorite leadership lines that will encourage trust, build autonomy, increase ownership, and help others grow as humans. What would you add? Mind. Body. Heart #mindset #coach #leadership

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Employee turnover’s always been high in retail and industry pundits accept it. I’ve heard this statement more times in my career than I can count, and it simply isn’t true. Don’t believe me? A member of the board of directors of a major big box retailer recently told me that their stores have a turnover rate of 7%. The industry average is 50%! Reducing turnover is obviously possible—and it’s worth the effort. Imagine how your bottom line would look if you had a turnover rate of 7%. Imagine how it would look if it was 25%! So let’s stop thinking of high turnover as inevitable. Reducing it is a huge opportunity. #Retail #RetailManagement #Staffing

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I enjoyed chatting with Inside Retail US about the FTC’s attempts to block the Tapestry x Capri Holdings Limited merger. As I told them, the decision does a great disservice to the retail industry and to American companies trying to create brand houses to rival those in Europe – at least in terms of scale. More importantly, however, the case is based on extremely poor logic and a misreading of how the market works. The FTC is meddling in areas that it doesn’t adequately understand. It all too often operates in a theoretical bubble that is divorced from reality. More of my views in the article… https://lnkd.in/eqXTmefT #retail #retailnews #regulation #luxury #handbags

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When I was a Retail Store Manager, I remember always wanting more growth in my role and career, but I wasn't sure how to get there. After 25 years of retail experience, I have put together a step-by-step method for retail leadership career growth...Building a Champion Retail Team! Are you a retail leader eager to advance your career but find yourself hindered by constant team challenges? Do high turnover rates, disengaged employees, and the scramble to fill positions keep you from focusing on your professional growth? You're not alone. These issues can prevent you from demonstrating the leadership skills needed for career advancement. Introducing "Leadership Accelerator Program: Building Champion Retail Teams" – a comprehensive course designed to help you overcome these obstacles and propel your career forward by transforming your retail team into a powerhouse of productivity, passion, and unparalleled customer service. https://lnkd.in/ecrTy_GA Accelerate Your Career Today! Don’t let team challenges hold you back from achieving your career goals. Invest in "Building Champion Retail Teams" and get my proven step-by-step method for creating a motivated, high-performing team that drives sales and elevates customer satisfaction. By mastering these strategies, you'll not only enhance your team's success but also demonstrate the leadership qualities that accelerate your career growth. https://lnkd.in/ecrTy_GA

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Although I will still be replenishing my killer heel collection - according to our Spring U.S. Consumer Footwear Survey, conducted in partnership with Footwear Distributors and Retailers of America (FDRA), footwear spending projects to be flat this spring and summer—only the athletic sector expects an increase, albeit a modest 2% growth With that said, we've uncovered three key tactics industry players can implement to meet consumer needs and boost sales in the months to come and beyond. Here's what companies should prioritize: https://lnkd.in/eyfs7m4W

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With the 8.1% sales decline accelerating over the last quarter and with losses growing on the bottom line, JCPenney has started its new fiscal year on a sour note. Unfortunately, the market has been soft which has not helped revenue, but as it is only part way through its reinvention program JC Penney also isn’t firmly on the front foot. Lower credit income is also unhelpful, with revenues here down by 20.5 over last year.   The changes JCP has been making to some stores and to assortments seem to be delivering, with refurbished shops performing better and some categories like womenswear producing stronger numbers. Sadly, these things are not yet sufficiently developed or widespread enough to offset staleness in the balance of the business. Basically, there is still a lot of work to do to put JCP on a more stable footing.   Fortunately for JCPenney, it is well financed and has a strong financial partner in its owners. As such, management won’t lose too much sleep over being in the red. However, the company needs to produce some better results across the remainder of this fiscal to prove its strategy is working. It was great to chat with Daphne Howland of Retail Dive about the latest Q1 numbers - link to article in the comments. #retail #retailnews #departmentstores #trading #apparel

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Yahoo Finance reports that Ross Stores, Inc. (ROST) posted good first quarter earnings and raised its full-year earnings guidance. For Q1, the discount retailer posted earnings per share of $1.46 compared to a $1.35 estimate. Revenue of $4.86B was about in line with Wall Street expectations of $4.82B. Stock value was up 8% in early morning trading. #retailnews #profits #fashionnews #profits

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When the leading voice for #retail in Canada, Retail Council of Canada, endorses your program, 3 things happen: 1. You know you're onto something great 2. You blush 😊 3. Retailers everywhere start to sign up their District, Territory and Area Managers! Here's the reality: District Managers get less role-specific training than any other position in retail. Yet, they are the most important roles for every retailer. This has to stop. Give your DMs the training they need and deserve. You won't be disappointed. https://lnkd.in/gDmerEmz

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Unlock Your Future: The Incredible Career Opportunities in Retail! Retail is more than just a job—it's a thriving industry full of amazing career opportunities. In my best-selling book, "The Retail Leaders Roadmap," even a colonel in the military and a top trauma surgeon see immense value. Based on my 35 years of real-life retail experience, this book proves that a career in retail is not only reliable but also highly rewarding. And if retail isn't your choice, this book translates equally well across various fields, as praised by leaders from different industries. Don't miss out on this chance to discover why retail is a smart career choice and how it can transform your future. Let's #Getupandgetgoing, and dive into the world of retail! Pick up your copy today https://a.co/d/2qjoAZe #RetailCareers #CareerOpportunities #RetailIndustry #RetailLeadersRoadmap #CareerGrowth #JobSecurity #RetailSuccess #LeadershipInRetail #RetailJobs #ProfessionalDevelopment #BestSellingBooks #RetailLeadership #CareerAdvice #RetailExperience #FutureInRetail #CrossIndustrySuccess YOOBIC RETHINK Retail #TRE

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