#The 'retail apocalypse' is an apparel apocalypse
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Ralph Lauren once said, "I don't design clothes, I design dreams," according to GQ magazine. But at retail, clothes have become the stuff of nightmares.
"According to the U.S. Bureau of Labor Statistics, from 1977 U.S. Households spent 6.2% on apparel and in 2017 that declined to 3.1% spending on apparel in U.S. Households," Shawn Grain Carter, professor of fashion business management at the Fashion Institute of Technology, told Retail Dive in an email. "That is a 50% drop over four decades."
And it's taking a toll.
Oct 23 - Register Now So far this year, 10 of the 16 major retail bankruptcies were filed by companies that mostly or exclusively sell apparel and/or footwear: Forever 21, Avenue, A'gaci, Barneys New York, Charming Charlie, Diesel USA, Payless ShoeSource, FullBeauty Brands, Charlotte Russe and Gymboree. Another, Shopko, was a discount department store with an assortment that included clothes.
Things are not likely to end there. In its latest analysis of CreditRiskMonitor data, Retail Dive found 28 retailers that could go bankrupt in the next year â and half sell apparel. In the worse-off list, which includes businesses with a 9.99% to 50% chance of filing for bankruptcy (a FRISK score of 1) â three are specialty apparel retailers: Christopher & Banks, Destination Maternity and J. Crew. A fourth, Ascena, is a conglomerate running five apparel brands after recently dumping two. It's reportedly contemplating also dropping its plus-size brands. Executives there recently assured analysts that bankruptcy is not a consideration, however.
In addition to those retailers, department stores J.C. Penney and Neiman Marcus also make the list. A seventh, Bluestem, is also a conglomerate with a portfolio of e-commerce brands somewhat less dominated by apparel.
Seven more apparel retailers have a 4% to 9.99% chance of filing for bankruptcy (a FRISK score of 2). They include RTW Retailwinds (a portfolio of brands formerly known as New York & Co), Tailored Brands (which runs Men's Wearhouse and JoS. A. Bank), Express, Francesca's and J. Jill, plus department stores Hudson's Bay Co. and Stein Mart.
"It is unsurprising that apparel stores are one of the most distressed parts of retail. This sector is saturated with supply and is arguably over-stored."
Neil Saunders
Managing Director, GlobalData Retail
The situation is at once stark and logical, considering the state of the market. Globally, the top dozen apparel retailers, on average, saw earnings downgrades of nearly 40% since 2016, according to a note from Morgan Stanley Friday, where analysts said the "online channel shift is clearly unhelpful, but it doesn't fully explain the malaise." For two decades, falling apparel prices were offset by growing volumes, but those "now seem to have peaked and prices are likely to keep falling, so clothing markets would appear to be going into structural decline."
Apparel retail, which has to keep up with the fickleness of consumer taste, has long been a tough business, according to GlobalData Retail Managing Director Neil Saunders. But that's just the beginning.
"It is unsurprising that apparel stores are one of the most distressed parts of retail. This sector is saturated with supply and is arguably over-stored," he told Retail Dive in an email. "Online has been unhelpful too as it has eroded margins somewhat and has also contributed to the issues of over-supply. On the periphery there are a number of emerging trends which are adding pressure, including the rise of rental and resale â both of which are mostly focused on clothing. Put all of this together and it's a recipe for a difficult sector."
In other words: Apparel retail is under siege on multiple fronts.
New consumer priorities Financial roadbumps stymying consumers outside of top-tier incomes are forcing some to prioritize, and that's pushing apparel far down on many lists. Average spending on women and girls' apparel has especially declined for lower-income earners, with the "only bright spot" in footwear, where share in apparel expenditure has risen across income levels, according to a Deloitte report last year. More recently, rising consumer debt, including record levels of student loans shouldered by younger consumers, is chipping away at discretionary spending.
But apparel spending declines are broad-based as priorities shift, according to Carter and others. "Apparel has lost market share to higher spending on experiences," she said, including a diverse set of activities like fitness, self-care like spas and manicures, sports (both participation and entertainment), other entertainment including streaming services of all types, restaurants, travel and electronics.
"The Boomers characteristically consume less apparel as they get older and their offspring are burdened with crushing student loan debt, generally rising prices in the consumer space and a very glaring lack of new and interesting apparel and accessory products."
Mark Cohen
Retail Studies Professor, Columbia University Business School
Mark Cohen, Columbia University Business School retail studies professor, likewise believes that "consumer electronics and the services that go with them with regard to ever more consuming technology continues to eat up the consumer's available disposable income," but notes other forces at play.
"The Boomers characteristically consume less apparel as they get older and their offspring are burdened with crushing student loan debt, generally rising prices in the consumer space and a very glaring lack of new and interesting apparel and accessory products to draw their attention," he told Retail Dive in an email. "Some appear to be gob smacked with the opportunity to 'rent' things rather than buy them â though this trend may very well turn out to be short lived just like the ubiquitous Gilt Flash Sale."
For younger shoppers, as they choose which apparel brands do get their attention, sustainability and other cultural issues are often at the forefront, according to Carter. Forever 21, for one, in contrast to at least nominal efforts by rival H&M, ignored that, to its peril, Carter said.
No fashion heroes The "glaring lack" of newness noticed by Cohen could be a reflection of a new fashion reality â that consumers themselves are dictating what to wear, gleaning clues from social media and seeking advice from influencers there who include their own friends.
"The tastemakers of fashion used to be the designer, fashion editor, fashion buyer and celebrity," said FIT's Carter. "Today, however, social media influencers, peers, and stylists have replaced the role of fashion sages for consumers to purchase apparel, footwear, and accessories. Instagram, YouTube and other social media platforms dictate how one should dress for Gen Z and Millennials. Besides, they don't shop in a mall or socialize in retail stores as did previous generations of youth."
"To be a merchant right now in apparel, that's a hard job. To work at The RealReal is so much easier than turning around J. Crew."
Lee Peterson
EVP, Thought Leadership & Marketing, WD Partners
That grassroots approach to fashion is making it difficult for merchandisers, at least those building seasonal lines from scratch, according to Lee Peterson, executive vice president of thought leadership and marketing at WD Partners. Resale businesses like ThredUp and The RealReal are better positioned than traditional retailers because of the way consumers mix and match styles, brands and price points, he said in an interview.
"You can't merchandise the way the customers buy now. I feel sorry for anyone working for Ascena and those guys putting together a line," he said. "To be a merchant right now in apparel, that's a hard job. To work at The RealReal is so much easier than turning around J. Crew. And to be a buyer there is easier, too, because you're treasure hunting for all your treasure-hunting customers."
Another reality pressuring sales is that nobody needs as many clothes as they once did, say Carter and Peterson. Peterson noted that, even as an executive, he was wearing a flannel shirt and Vans on a Thursday.
"No 'career wear' or business wardrobe is necessary anymore since the beginning of the 1990s era of 'Friday Casual' morphed into everyday 'Business Casual' at the majority of companies, schools, service industries and banks in America," Carter said. "One need only trace the rise of wearing sneakers to one's office, college, opera house, theater, church or temple to see that consumers see no value in 'dressing for work' vs. dressing for leisure. Even Goldman Sachs has suspended the Tie and Suit rule once and for all!"
Too much supply So, consumers can't spend as much on apparel as they once did, would rather buy other things and don't need as many clothes. Yet there's a glut of apparel for sale, and, increasingly, for rent.
"Thirty years ago the apparel and related accessories business were booming. The department stores couldn't wait to jettison lesser margin businesses like housewares, home and electronics so as to devote more selling space to soft lines," Columbia's Cohen said. "But apparel and accessories like most individual consumer segments are cyclical in the way they perform. What was the ever rising tide is no longer."
It doesn't help that the traditional mall, which functioned well for suburban Americans for decades, is now a fairly inconvenient way to shop in an era when most households need two wage-earners, both pressed for time, and when so many things can be bought online. That's leading retailers as diverse as Gap and GNC to leave those locations to set up shop in strip malls and invest in e-commerce instead.
"Now the remaining department stores have too many physical stores in the face of the explosion of commerce and too much square footage devoted to off-trend apparel and accessories," said Cohen, who has decades of experience at retailers like Sears and Target. "Some of us balked at this short-sighted thinking of the past but we lost the argument and now the chickens have come home to roost. There obviously was a ridiculous over-investment in apparel and accessory specialty retail, largely based upon an increasingly large number of now superfluous malls."
Macy's is exhibit one, as a retailer that has scrambled in recent years to unwind its massive brick-and-mortar expansion of more than a decade ago, but it's not just a department store problem. Forever 21 also over-built its fleet, too often in sub-standard centers, and now plans to close 178 stores in the U.S. alone.
A giant retreat While it's easy to see how e-commerce undercuts store traffic and sales, the apparel over-supply extends online. In fact, Walmart's recent loss of appetite for running its newly acquired pure-players could have something to do with the fact that they are apparel businesses. In a stunning retreat, the retail giant sold its ModCloth apparel brand and is reportedly shrinking the Bonobos menswear operation, not long after buying them.
"Against this backdrop, Walmart will be cautious about getting too deeply into apparel. At heart, Walmart isn't a fashion focused player; their primary business model is a volume play based on everyday products sold at low prices," Saunders said. "As such, the company has determined that ModCloth, and possibly Bonobos, are not a good long-term fit. This is especially so given the challenge of bringing these divisions into strong profitable territory."
Walmart in recent years grabbed those businesses, along with outdoor apparel retailer Moosejaw, to glean knowledge and is likely now ready to graduate, according to Saunders.
"Having extracted what they needed, Walmart is changing tack and is focusing more on their core e-commerce business via Walmart.com," he said. "Walmart sees its future in fashion as improving its own offer via stores and online, doing selective things in specialist areas like plus size, and partnering with other brands via its marketplace. That makes sense as it allows Walmart.com to widen its fashion appeal without Walmart taking on too much of the risk. It's a nimbler and likely more profitable model."
More nimble and more profitable: suitable, if difficult, goals for the entire apparel industry at the moment.
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gamescom 2018 Xbox One Bundles and Accessories Guide
You may have heard â at this yearâs gamescom in Cologne, we announced eight new Xbox One bundles. In case that wasnât enough, we also revealed three new Xbox Wireless Controller options, too. Whether youâre after the stunning Xbox One X Gold Rush Special Edition Battlefield V bundle, a new Desert Camo personalized Xbox Wireless Controller from Xbox Design Lab or Forza or Tomb Raider bundles, weâve got something for everyone to help you choose your favorite way to play with your friends on Xbox.
Hereâs a detailed breakdown of all the Xbox One bundles and accessories announced on the gamescom Inside Xbox episode:
Xbox Wireless Controller â PlayerUnknownâs Battlegrounds Limited Edition
Survive the ultimate life and death fight with the Xbox Wireless Controller â PlayerUnknownâs Battlegrounds Limited Edition, featuring a distressed black digital camo pattern and unique design elements inspired by the game. Be the last one standing with the new and exclusive trigger grip to help you stay on target in the final circle. The controller is bundled with exclusive cosmetic DLC inspired by the controller design.
Pre-order today at Microsoft Store and select retailers worldwide. Limited supplies only, shipping on October 30, 2018 for $69.99.
Xbox Design Lab Camo and Shadow Controllers
 Last year at gamescom, we started shipping Xbox Design Lab controllers to more than 20 European countries. This year you can personalize your very own Xbox Wireless Controller in even more, unique ways with new Xbox Design Lab Camo and Shadow options, including five new camo colors and five new shadow colors. In addition, a Sterling Silver Shadow design is available to order for a limited time, now through September 30. Start from scratch or customize an existing design online, choosing from a wide range of new designs and colors for your Xbox Design Lab controller. There are over a billion ways to design yours at xbox.com/xboxdesignlab.
Available now at Xbox Design Lab starting at $69.99.
Shadow of the Tomb Raider Xbox One Bundles
Pre-order the 1TB Xbox One S ($299.99) or 1TB Xbox One X ($499.99) Shadow of the Tomb Raider Bundle and become Lara Croft in a race to save the world from the Maya apocalypse. Master the deadly jungle, overcome terrifying tombs, and persevere through Lara Croftâs darkest hour. On Xbox One X, experience incredible visuals with support for native 4K resolution and HDR.
Each bundle comes packed with an Xbox Wireless Controller, a digital download of Shadow of the Tomb Raider, 1 month of Xbox Game Pass and 14 days of Xbox Live Gold.
Pre-order now; arrives in stores starting September 14, 2018. Check your local retailer for availability.
Forza Horizon 4 Xbox One Bundles
Pre-Order the 1TB Xbox One S ($299.99) or 1TB Xbox One X ($499.99) Forza Horizon 4 Bundle and experience a shared open world where dynamic seasons change everything. Explore Britain, collect 450 cars or choose to join team multiplayer just for fun to take on the best in the world. The Xbox One X Forza Horizon 4 Bundle brings support for native 4K resolution and HDR, and comes with a downloadable copy of Forza Motorsport 7, too.
Each bundle comes packed with an Xbox Wireless Controller, a digital download of Forza Horizon 4, 1 month of Xbox Game Pass and 14 days of Xbox Live Gold.
Pre-order now; arrives in stores starting October 2, 2018.
Xbox One X Gold Rush Special Edition Battlefield V Bundle
Pre-order the Xbox One X Gold Rush Special Edition Battlefield V Bundle and enter mankindâs greatest conflict with Battlefield V as the series goes back to its roots in a never-before-seen portrayal of World War 2. Join the ranks with full-game downloads of the Battlefield V Deluxe Edition and the classic Battlefield 1943. Enhanced for Xbox One X and supporting 4K resolution and HDR graphics, the Battlefield V Deluxe Edition includes paratrooper apparel, Special Assignments to test your skill, and weekly items coming with Airlift.
This special edition Xbox One X features a unique dark gray to gold design and includes 4K Ultra HD Blu-ray, 4K Video Streaming, Spatial Audio and a matching wireless controller. (Battlefield 1943Â playable online only.) It also comes with 1 month of EA Access, 1 month of Xbox Game Pass and 14 days of Xbox Live Gold.
Pre-order now; arrives in stores starting October 16, 2018 for $499.99, only while supplies last.
More Battlefield V Xbox One Bundles
If youâre looking for more Battlefield V bundles, weâve got you covered. Pre-order the 1TB Xbox One S ($299.99) or 1TB Xbox One X ($499.99) Battlefield V Bundle and enjoy a digital download of Battlefield V: Deluxe Edition, which also comes with the paratrooper apparel, Special Assignments and weekly items via Airlift. Whether youâre rallying your troops, watching 4K movies, or streaming gameplay, thereâs never been a better time to game with Xbox One.
Each bundle comes packed with an Xbox Wireless Controller, a digital download of Battlefield V Deluxe Edition, 1 month of Xbox Game Pass and 14 days of Xbox Live Gold.
Pre-order now; arrives in stores starting October 16, 2018.
Xbox One X Fallout 76 Bundle
Pre-order the Xbox One X Fallout 76 Bundle and experience the largest, most dynamic world ever created in the legendary Fallout universe. With support for 4K resolution and HDR, Bethesda Game Studios, the award-winning creators of Skyrim and Fallout 4 welcome you to Fallout 76, the online prequel where every surviving human is a real person. Twenty-five years after the bombs fall, you and your fellow Vault Dwellers â chosen from the nationâs best and brightest â emerge into post-nuclear America. Play solo or join together as you explore, quest, and build your way to triumph against the wastelandâs greatest threats.
The bundle comes packed with an Xbox Wireless Controller, a digital download of Fallout 76, 1 month of Xbox Game Pass and 1 month of Xbox Live Gold.
Pre-order now; arrives in stores starting November 14, 2018.
Thatâs a wrap-up of all the new bundles and accessories that were just announced at gamescom 2018 during Inside Xbox. Whether youâre an adventure lover striving to become Lara Croft in Shadow of the Tomb Raider, a Battlefield fanatic, looking to join the ranks of Vault-dwellers in Fallout 76 or a controller collector looking for that Xbox Wireless Controller â PlayerUnknownâs Battlegrounds Limited Edition, Xbox has got something for everyone. Games play best on Xbox One, so jump in and join the Xbox family! For more information, visit xbox.com.
via Xbox Live's Major Nelson https://ift.tt/2NcCPQr
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How American Eagle Outfitters Survived the Retail Apocalypse
Its latest earnings report shows the mall-based apparel retailer is still defying the odds even as its rivals burn out."How American Eagle Outfitters Survived the Retail Apocalypse" via FOX BIZ https://fxn.ws/31htNcy
from Blogger http://bit.ly/2My0vmk
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âRetail apocalypseâ now: Analysts say 75,000 more U.S. stores could be doomed.
April 10, 2019 | By Abha Bhattarai | www.washingtonpost.com
Widespread closures have roiled the retail industry, but many more stores are likely to shut down in coming years to keep up with a shift to online shopping, according to a report by investment firm UBS.
An estimated 75,000 stores that sell clothing, electronics and furniture will close by 2026, when online shopping is expected to make up 25 percent of retail sales, according to UBS. Roughly 16 percent of overall sales are made online.
Analysts said the closures would affect a broad variety of retailers, affecting an estimated 21,000 apparel stores, 10,000 consumer electronics stores and 8,000 home furnishing stores.
[Brookstone is filing for bankruptcy and closing all of its stores]
Already this year, retailers have announced plans to close thousands of stores as they keep up with changing consumer habits. Payless ShoeSource, which filed for Chapter 11 bankruptcy protection in February, is closing all 2,100 of its U.S. stores, while Gymboree is shuttering its 800 locations. Sears, which has closed 1,300 Kmart and Sears stores since 2013, is scrapping an additional 80 locations. A number of other retailers, including Gap, have hinted that store closures are on the horizon.
The main reason for the shift, analysts say, is simple: Americans are increasingly shopping online. The average U.S. household spent $5,200 online last year, up nearly 50 percent from five years earlier.
âThis is a healthy cleansing for the retail industry,â said John D. Morris, senior brand apparel analyst for financial services firm D.A. Davidson. âWeâre in the middle of a multiyear retail purge. Companies are finding that when it comes to stores, less is more.â
[Toys R Us to close all 800 of its U.S. stores]
Overall, retailers have closed more than 15,000 stores since 2017, according to UBS. Among them: Radio Shack (which closed 1,470 stores), Toys R Us (735 stores), and Mattress Firm and GNC (700 stores each).
âRetailers have been hanging on too long to their bricks-and-mortar stores,â Morris said.
After a decade of steady retail closures â enough to coin the term âretail apocalypseâ â analysts said in-store sales ticked up in 2018, in part because of tax cuts for some Americans. But those gains are likely to be reversed this year, said UBS analysts Jay Sole and Michael Lasser.
âThis pace of store productivity improvement is unlikely to be sustained in 2019 as the boost from fiscal stimulus fades,â they wrote in a note to clients on Tuesday. âThis will likely lead to an acceleration in physical store closures in the upcoming year.â
Even so, some Internet-only companies such as furniture retailer Wayfair and mattress brand Casper are beginning to open physical stores. But analysts said these outposts â often smaller and more sparse than traditional stores â function more as showrooms for items customers can order online than a one-stop shop with swaths of inventory.
âThe trend is toward more streamlined stores: Less chaos, less inventory, less choice,â Morris said. âIf a customer wants something in a different color or size, they can find that online.â
Big-box retailers such Target and Ikea are also shrinking their store sizes to appeal to time-strapped shoppers in urban areas. Sears said last week that it will open a handful of âSears Home & Lifeâ shops that are about one-tenth the size of its traditional department stores.
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Who Really Shops at High-End Airport Stores? A Lot of People, and They Spend Thousands.
Burberryâs pop-up store in London Heathrow airport is a popular destination for travelers waiting for their flights. The installation runs until August 7. (Photo: Courtesy of Burberry)
The modern mall has seen better days, but you wouldnât know that looking at airport shopping centers.
Airports are a bright spot in what is otherwise frequently called the retail apocalypse, with luxury retailers cashing in on shoppers stuck in one location with hours to kill and cash to burn. Airport shopping isnât just about duty-free cosmetics and booze anymore. For wealthy travelers, itâs about casually adding a Chanel Gabrielle bag to your carry-on luggage, and Londonâs Heathrow Airport is a growing destination for this kind of cash throw down.
In addition to dozens of luxury stores at Heathrow, the transportation hub launched its Personal Shopper service in October, where more than one million VIP travelers have put one of 24 stylists to work pulling apparel and accessories for them while they wait in one of Heathrowâs VIP lounges. Celebrities and fashionistas like model Lily Aldridge have documented their travels through the VIP lounges on Instagram â and the popularity and prestige of these airport areas seems to be on the up and up.
Quick stop at Heathrow âď¸â¤ď¸ Follow my travels on SnapChat #LilyMaud
A post shared by Lily Aldridge (@lilyaldridge) on Jun 2, 2016 at 6:27am PDT
Airport damage âď¸ @cathaypacific #LifeWellTravelled
A post shared by Rosie Fortescue (@rosiefortescue) on Mar 1, 2017 at 8:57am PST
A spokesperson for Heathrowâs VIP service said that on average, shoppers using the service spend more than $3,400, and the most expensive purchase made at once in the personal shopping lounge amounted to $59,839 for three Rolexes and three Tudor watches, purchased by a Chinese businessman.
At Heathrow, Arab and Chinese shoppers account for a lot of big purchases, most of which are from Louis Vuitton, Chanel, and Cartier. But in the last year, Heathrow shoppers have flooded one store in particular:Â Gucci.
Blake Henke, a 30-year-old software manager from Florida, didnât spend quite as much as that Chinese businessman, but he did make a recent purchase of his own while waiting at Heathrow during a layover. Perusing the airportâs stores, Henke spent $200 at Heathrowâs Thomas Pink shop, and says if heâd had more time, he could have easily shopped more.Â
Flying through Heathrow more than six times in the last four years, Henke says its stores are âdefinitely betterâ than those in U.S. airports, adding that Romeâs Leonardo da VinciâFiumicino airport also has great shopping. (Like Heathrow, Romeâs airport has a personal shopper service for travelers interested in buying from designer stores like Fendi and Max Mara.)
âIn the U.S., it seems to be primarily touristy knick knack stores or else youâve got the 58 magazine/book stores,â Henke says. âHeathrow was different though, it felt like an actual mall so I ended up just wandering through a few stores and picking up a few items that caught my eye.â
Luxury retailers like Burberry are taking note, the English brand known for its check print and iconic trench coats launching its own Heathrow pop-up, replete with a full-size hot air balloon, until August 7. While youâre shopping at the pop-up, you can also create a personalized Burberry post card.
More travelers through Heathrow means a bigger incentives for brand names to literally set up shop. Analysts expect more than 76 million passengers to pass through Heathrow airport this year, a million more than previously estimated, and airport spending across the world totaled $38 billion in 2016, a number expected to grow 27 percent in the next few years.
Henke puts it best. âTargeting airport shoppers is a brilliant idea. Thereâs a lot of disposable income walking past those store fronts.â
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In the war for online shoppers, traditional retailers are putting up a fight. Macys is the top e-commerce clothing store in the country, according to a new study from the research firm SimilarWeb . The http://ordernownzs.journalwebdir.com department store chain clobbered rivals in web and mobile traffic last quarter, with 55 million visitors besting retailers like Amazon, Nordstrom and The Gap in attracting apparel shoppers to its site. ( Amazon was the frontrunner in general merchandise, but the retail behemoth didnt even make the top 10 for apparel traffic, although the Amazon-owned Zappos did.) Instead, the ranking reads like a laundry list of retailers that were considered down for the count in to the so-called retail apocalypse. Victorias Secret, which suffered declining sales every month last year, made the cut. So did Footlocker, which plans to close 100 stores in 2018. Macys, for http://cheapxchangeaijq.wickforce.com its part, weathered a string of rough years by closing nearly 200 stores nationwide. In recent months, the chain has beefed up its omnichannel strategy pairing a robust web and mobile re-jiggering with employee training designed to enhance the companys in-store experience. Its the marriage of technology and the human touch, newly minted CEO Jeff Gennette said at a conference last year. The strategy seems to be working. About 25% of the online traffic to the top 10 apparel sites this year came from Macys, which is twice as much as JC Penney and Nordstrom , the second and third most-visited sites.
For the original version including any supplementary images or video, visit http://time.com/money/5243075/most-popular-online-store/
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Southern NH Retail Inventory Reported at 29.8 Million SF, Vacancy at 9.1 Percent
BURLINGTON, MAâKeyPoint Partners, LLC has released The KeyPoint Report for Southern New Hampshire 2017. This comprehensive retail real estate Report examines supply, occupancy, absorption, and retailer expansion and contraction for virtually every retail property in the region.
According to the Report, total retail real estate inventory in the region was 29.8 million square feet, a modest decline of 59,400 square feet, or 0.2%. The vacancy rate was 9.1%, an improvement from 10.5% in 2016. Mattress Firm was the retailer adding the most new space in the region, by way of its acquisition of Sleepyâs. Amusement & Recreation Facilities and Hobby, Toy & Game stores led all retail categories in added square footage, with Health & Fitness leading in expansion by number of new locations. The Family Apparel category closed the most square footage in the region, contracting by 53,800 square feet.
Bob Sheehan
âGiven the current backdrop of the retail industry and innuendos of a retail apocalypse, things werenât so bad in Southern New Hampshire in 2017. In fact, they were pretty good,â said Bob Sheehan, Vice President of Research at KeyPoint Partners. âBig box vacancies found users after sitting idle for as long as six years. In the 40,000+ square foot category, prospects are few and far between. But the stars aligned, and new tenants absorbed, at least partially, a Walmart box, Shawâs, Market Basket, Loweâs, Hannaford, and Sports Authorityâ, Sheehan notes. âNew players entering the region via these vacant units include Chunkyâs, Ocean State Job Lot, Cardiâs Furniture, NH1 Motorplex Indoor Karting, Cowabungaâs, Hobby Lobby, Boston Interiors, Party City, Petco, and Guitar Center. Together these tenants reduced vacant space in the region by 346,600 square feet â a remarkable feat in one year.â
âIt should be no surprise that the vacancy rate in Southern New Hampshire, after jumping up nearly a full point last year, came all the way back down to 9.1%, the lowest since 2008, when the figure stood at 7.4%,â Sheehan added.
The KeyPoint Report is based on KeyPoint Partnersâ GRIIDď, a powerful source of retail market knowledge that maintains detailed information on virtually every retail property in key New England markets. The Southern New Hampshire includes 39 cities and towns, representing more than 835 square miles and approximately 562,000 people (42% of the state population).
The KeyPoint Report for Greater Hartford, Connecticut will follow shortly.
from Boston Real Estate http://bostonrealestatetimes.com/southern-nh-retail-inventory-reported-at-29-8-million-sf-vacancy-at-9-1-percent/
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If you are comparatively great with inside vegetation, you should think of outside garden as a hobby. The relevant skills are very similar, but you ve acquired the excess obstacle of having to think about conditions, numbers of sun rays, and in many cases the particular earth which you have around the house. It s these more tiers that give this interest a lot of level.
Switching your young ones on to hobbies at an early age will help them in several ways, and studies propose it will also have them on the directly and filter. Kids who engage in extra-curricular sporting activities, art pursuits, and other groups available tend to do much better in education also. Introduce them to many interests, and permit them to opt for their preferred!
Hobbies will keep you in good shape if they are bodily concerned. Try trying to keep energetic by using up hobbies like cycling, operating, fishing, or seeing the health and fitness center. These types of basic activities not just offer you the opportunity to have fun, nonetheless they may help you stay healthy and check far better.
If you like to help make baby booties for your personal friends and family, why not think about turning your hobby into a part funds-producing endeavor. There are plenty of online methods where one can offer your own home-created goods. The greater number of adorable the product is, the more likely it will probably be snapped up by those who do not have a chance to produce.
If you re stumped about which pastime you need to get included in, think about one who offers you a good amount of workout. You can take up jogging, fishing, or jogging to assist complete time, whilst keeping you busy, although burning off a bunch of calorie consumption as well! Have a close friend engaged so you won t even feel like you re working out.
Birthday cake decorating might be a really fun activity that enables you to produce a work of art from home. Particular interest merchants in fact offer economical birthday cake decorating sessions to help you get you started. This can be a wonderful hobby that mixes your creative skills having a scrumptious treat plus it doesn t price a lot of cash.
Seashell gathering is a great interest that can provide you with fond remembrances of beach front vacations. Seashells could be educational for children and in addition are actually excellent attractive decorations for your residence.
Remaining by using a activity can often be really tough because of our busy daily activities. It doesn t have to be the truth once you have sound advice for example the one s in the earlier mentioned write-up. Include these guidelines on hobbies and interests to assist you discover that best the one that you may stick to for a long time!
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Where can Haim Chera take Vornadoâs retail business?
The retail apocalypse delivered a one-two punch to Vornado Realty Trust last year when a pair of its largest retail tenants filed for bankruptcy. The first came in May 2019, when British apparel company Topshop announced it was closing all of its U.S. stores, including two locations, on Fifth Avenue in Midtown and Broadway in Soho, owned by Steven Rothâs publicly traded real estate behemoth. The second blow came four months later in September 2019,
Source: https://therealdeal.com/2020/04/28/for-haim-chera-the-opportunities-are-as-big-as-the-challenges/
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Vintage Class Of 2020 The Year When Shit Got Real 2020 Tp Apocalypse Shirt
Vintage Class Of 2020 The Year When Shit Got Real 2020 Tp Apocalypse Shirt
Are you presently planning to change your appearance? Has trend been something you have already been contemplating but simply haven t got enough time to obtain lower? Properly your search is over, this information is here that you should work out how you may increase your image through style.
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13 Predictions about the post-Covid Hospitality World
In this article - well worth the read - by Micha Magid the co-founder of Mighty Quinnâs Barbeque (US fast-casual concept) , a number of very specific predictions are made. I have summarised 13 that I liked below. The only caveat is that the assumption is that people will have the money to behave in the ways predicted.
Approximately 25 percent of all restaurants remain indefinitely closed with 90 percent of the closures hitting independently owned locations.
Delivery focused restaurant brands do very well into the end of the year.
Digital order channels are flowing, people embrace their missed sense of normalcy and business is back.
Fast casual and quick service continue to outperform the beleaguered restaurant industry while the casual-dining sector suffers as people just arenât ready to linger in dining rooms.
Small independent restaurants still struggle in the fourth quarter and many favorites have closed forever while others are able to slowly get back to business.
The salad chains underperform the rebound as raw food still caries caution in the national psyche.
Great ethnic restaurants become increasingly harder to find as they suffered the most closures while the remaining survivors are slow to return as consumers dine out with an irrational abundance of caution through the end of 2020.
Itâs a burger, pizza, pasta, BBQ, burrito world through the end of the year.
Mobile user interface, customization and ease of ordering become just as important as in-house service. For the second half of 2020, order ahead and digital delivery ordering are the primary drivers of the rebound in restaurant revenue.
Large malls continue to suffer. The slow-motion brick and mortar retail apocalypse will accelerate as bankruptcies spike following holiday 2020.
The mall repositioning away from apparel retail and into food and entertainment will no longer work.
Crowded communal tables in food courts ⌠too soon.
As the work from home population increases the residential adjacent restaurants will see increased profitability from a stronger lunch day-part in a time of softening rents.
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Chinaâs Contagious Optimism; Oppenheimer Bombs Tesla Shorts
Chinaâs Contagious Optimism; Oppenheimer Bombs Tesla Shorts:
Phase 1 Signing = Phase 1 Optimism
Itâs trade deal week! Are you excited?
Yes, dear reader, the much-hyped âphase 1â U.S.-China trade deal will finally be signed this week. Itâs about time, I must say.
In case youâve been trapped behind a wall, I put all the nitty-gritty details together in bullet points below (We all love bullet points, donât we?):
China agreed to buy $200 billion in U.S. farm goods and other products/services over two years.
China agreed to address the protection of U.S. intellectual property.
China agreed to provide U.S. companies greater access to its financial sector.
China agreed to not devalue its currency to prop up exporters.
The U.S. agreed to not impose new tariffs on $156 billion in Chinese imports.
The U.S. agreed to halve the existing 15% tariff rate on $120 billion of Chinese goods.
The U.S. agreed to increase the number of tariff exceptions itâs willing to grant.
Not too shabby for a phase 1 deal.
But, Chinese social media account Taoran Notes was quick to remind everyone: âWe must bear in mind that the trade war is not over yet.â After all, the U.S. still maintains tariffs on some Chinese imports, and China is âstill implementing retaliatory measures.â
Whatâs more, the U.S. plans to pursue a âphase 2â agreement as soon as possible to address subsidies for Chinese businesses, Chinese cyber intrusions in the U.S. and technology transfer to Chinese businesses.
Weâre clearly not out of the woods yet, but this appears to be an excellent starting point.
The Takeaway:
With the phase 1 signing comes phase 1 optimism.
Bullish sentiment surrounding the deal has become quite infectious. Everyone from Alibaba Group Holding Ltd. (NYSE: BABA) to JD.com Inc. (Nasdaq: JD) to Tencent Holdings Ltd. (OTC: TCEHY) surged today.
Heck, even video streaming service Bilibili Inc. (Nasdaq: BILI) and electric vehicle maker Nio Inc. (NYSE NIO) are joining in the fun.
The thing is, most of these companies werenât directly affected by the U.S. tariffs anyway. Alibaba makes most of its money selling goods and services in China and Southeast Asia. (Singles Day sales hit an all-time high of $38.3 billion at Alibaba despite the trade war.) It was the same with JD.com.
Tencent has the most U.S. exposure, but most of that is due to online app sales and microtransaction revenue.
The point is, for the vast majority of U.S.-listed Chinese stocks, the trade war can be more accurately described as a war on investor sentiment. If you were able to weather the spike in negativity toward these stocks, youâre about to be well rewarded.
Alibaba, for instance, has surged more than 34% since the phase 1 deal was announced. BABA shares now trade at all-time highs. JD.com shares saw similar performance, but remain about 22% below their all-time highs â so thereâs room to grow here for Chinaâs biggest online retailer (by revenue).
Right now, youâre probably wondering: âShould I invest in Chinese stocks, or is it too late?â
Well ⌠itâs not too late, per se, but chasing the current rally might not net you the kinds of gains youâre looking for. Todayâs phase 1 signing optimism comes at the tail end of a four-month rally for U.S.-listed Chinese stocks.
Are there more gains to be had? Certainly. But you might be better served if you wait for a bit of consolidation or profit-taking from early investors before diving back into the sector at this point.
That said, keep an eye on Alibaba and JD.com as earnings draw near. Alibaba reports around January 29 and JD.com near February 14. After a record-breaking Singles Day, both should offer up impressive numbers that could send the stocks skipping higher.
Good: Oppenheimer, Destroyer of Shorts
I donât think thereâs a better word to describe Tesla Inc. (Nasdaq: TSLA) short sellers right now than âthunderstruck.â (Well, maybe âscrewed.â)
This morning, Oppenheimer dropped a bomb on TSLA shorts by lifting its price target on the stock from $385 to $612 â which is way more specific than $500 or $0. Analyst Colin Rusch said he believes Tesla has hit âcritical scaleâ and can now sustain positive free cash flow.
The boost sent TSLA shares soaring above the $500 mark for the first time ever. But itâs even worse than that for Tesla shorts. The stock has more than doubled in the past three months, raining pain down upon short sellers.
Despite a 5% decline in the most recent reporting period, 19.6% of Teslaâs float (or shares available for public trading) remains sold short. After hitting $500 today, I expect that figure to decline rapidly as shorts get squeezed into buying back their positions and ending their bearish pain.
The bottom line: We havenât seen the end of the current Tesla bull rally. (And we havenât even touched on Model 3 fart noises yet!)
Better: Hot Pants, Hot Stock
âWhat retail apocalypse?â
Thatâs what investors in Lululemon Athletica Inc. (Nasdaq: LULU) must be thinking today. The athleisure apparel retailer just lifted its earnings and sales forecasts for the holiday quarter due to strong seasonal demand.
Lululemon lifted its earnings expectations by $0.12 to between $2.22 and $2.25 per share, with revenue expected to come in between $1.37 billion and $1.38 billion â a $5 million boost to prior guidance.
Thatâs a lot of yoga pants. Enough to push LULU shares to a fresh all-time high.
If Lululemon teaches us anything about retail, itâs that this so-called retail apocalypse isnât affecting every retailer. Only the ones that apparently canât adapt quickly enough to changing retail demands. On that note, Lululemon already learned its lesson, and itâs executing impressively right now.
Best: In the Cards for Big Data
If youâre not familiar with Cardlytics Inc. (Nasdaq: CDLX), you need to get familiar now.
The company specializes in analyzing banking rewards program data and turning that information into actionable marketing and advertising strategies. While this may sound boring â letâs be honest, digging through someoneâs bank rewards data would put all of us right to sleep â Cardlyticsâ business model is very profitable.
The company has beaten Wall Streetâs earnings projections in every quarter for the past year. And itâs about to do so once again. Cardlytics just announced preliminary fourth-quarter results, and Wall Street is shocked.
The company expects total revenue to be between $68.5 million and $69.5 million on total billings of between $99 million and $101 million. Now, those numbers may not mean a lot to you, but Wall Street is very impressed, let me tell you.
How impressed? CDLX shares are up more than 21% following the preliminary announcement.
Itâs a vulnerable time for a lot of these young dudes, feel me? They donât be taking care of their chicken right. ⌠Iâll tell yâall right now while yâall in it, take care of your bread so when youâre all done you can go ahead and take care of yourself.
â Marshawn Lynch, Seattle Seahawks running back
After losing to the Green Bay Packers last night, Lynch refused to offer up your typical sportsball clichĂŠs â and instead offered up a unique perspective on money. Clearly, Lynchâs commentary was aimed at NFL players â 80% of whom suffer from financial stress shortly after retiring.
However, Lynchâs words of caution also apply to anyone when it comes to retirement, echoing the Great Stuff motto of âbe prepared.â
I wonder if we could get away with changing that to: âAre you taking care of your chicken right?â or âAre you making bread to keep yourself ahead?â
Maybe weâll just leave that to Marshawn. That seems best.
Great Stuff Helps You Protect Your Bread
Mr. Great Stuff, you couldâve left the analogy in the last section.
I see your point and sidestep it to tell you the best way to care for your chicken â er, wealth.
If youâre serious about maintaining your wealth, freedom and independence in a (sometimes) scary world, Ted Bauman has your back.
Having worked with clients as high and mighty as the United Nations, the World Bank and the South African government, Tedâs not your ordinary âbusiness consultant.â Instead, youâll find that Ted cares about teaching you how to protect your money just as much as growing it.
Tedâs thousands of subscribers already know his no-holds-barred perspective from The Bauman Letter ⌠but hereâs your chance to reap Tedâs wisdom free.
Itâs the best news you could get on a Monday ⌠Ted and company are bringing market insights and real-world commentary to your inbox with the new Bauman Daily! Donât miss out on the tips and tricks that can keep your money safe ⌠click here to start reading.
Remember, itâs a vulnerable time for a lot of these young dudes (and dudettes) ⌠feel me?
Until next time, good trading!
Regards,
Joseph Hargett
Great Stuff Managing Editor, Banyan Hill Publishing
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Phase 1 Signing = Phase 1 Optimism
Itâs trade deal week! Are you excited?
Yes, dear reader, the much-hyped âphase 1â U.S.-China trade deal will finally be signed this week. Itâs about time, I must say.
In case youâve been trapped behind a wall, I put all the nitty-gritty details together in bullet points below (We all love bullet points, donât we?):
China agreed to buy $200 billion in U.S. farm goods and other products/services over two years.
China agreed to address the protection of U.S. intellectual property.
China agreed to provide U.S. companies greater access to its financial sector.
China agreed to not devalue its currency to prop up exporters.
The U.S. agreed to not impose new tariffs on $156 billion in Chinese imports.
The U.S. agreed to halve the existing 15% tariff rate on $120 billion of Chinese goods.
The U.S. agreed to increase the number of tariff exceptions itâs willing to grant.
Not too shabby for a phase 1 deal.
But, Chinese social media account Taoran Notes was quick to remind everyone: âWe must bear in mind that the trade war is not over yet.â After all, the U.S. still maintains tariffs on some Chinese imports, and China is âstill implementing retaliatory measures.â
Whatâs more, the U.S. plans to pursue a âphase 2â agreement as soon as possible to address subsidies for Chinese businesses, Chinese cyber intrusions in the U.S. and technology transfer to Chinese businesses.
Weâre clearly not out of the woods yet, but this appears to be an excellent starting point.
The Takeaway:
With the phase 1 signing comes phase 1 optimism.
Bullish sentiment surrounding the deal has become quite infectious. Everyone from Alibaba Group Holding Ltd. (NYSE: BABA) to JD.com Inc. (Nasdaq: JD) to Tencent Holdings Ltd. (OTC: TCEHY) surged today.
Heck, even video streaming service Bilibili Inc. (Nasdaq: BILI) and electric vehicle maker Nio Inc. (NYSE NIO) are joining in the fun.
The thing is, most of these companies werenât directly affected by the U.S. tariffs anyway. Alibaba makes most of its money selling goods and services in China and Southeast Asia. (Singles Day sales hit an all-time high of $38.3 billion at Alibaba despite the trade war.) It was the same with JD.com.
Tencent has the most U.S. exposure, but most of that is due to online app sales and microtransaction revenue.
The point is, for the vast majority of U.S.-listed Chinese stocks, the trade war can be more accurately described as a war on investor sentiment. If you were able to weather the spike in negativity toward these stocks, youâre about to be well rewarded.
Alibaba, for instance, has surged more than 34% since the phase 1 deal was announced. BABA shares now trade at all-time highs. JD.com shares saw similar performance, but remain about 22% below their all-time highs â so thereâs room to grow here for Chinaâs biggest online retailer (by revenue).
Right now, youâre probably wondering: âShould I invest in Chinese stocks, or is it too late?â
Well ⌠itâs not too late, per se, but chasing the current rally might not net you the kinds of gains youâre looking for. Todayâs phase 1 signing optimism comes at the tail end of a four-month rally for U.S.-listed Chinese stocks.
Are there more gains to be had? Certainly. But you might be better served if you wait for a bit of consolidation or profit-taking from early investors before diving back into the sector at this point.
That said, keep an eye on Alibaba and JD.com as earnings draw near. Alibaba reports around January 29 and JD.com near February 14. After a record-breaking Singles Day, both should offer up impressive numbers that could send the stocks skipping higher.
Good: Oppenheimer, Destroyer of Shorts
I donât think thereâs a better word to describe Tesla Inc. (Nasdaq: TSLA) short sellers right now than âthunderstruck.â (Well, maybe âscrewed.â)
This morning, Oppenheimer dropped a bomb on TSLA shorts by lifting its price target on the stock from $385 to $612 â which is way more specific than $500 or $0. Analyst Colin Rusch said he believes Tesla has hit âcritical scaleâ and can now sustain positive free cash flow.
The boost sent TSLA shares soaring above the $500 mark for the first time ever. But itâs even worse than that for Tesla shorts. The stock has more than doubled in the past three months, raining pain down upon short sellers.
Despite a 5% decline in the most recent reporting period, 19.6% of Teslaâs float (or shares available for public trading) remains sold short. After hitting $500 today, I expect that figure to decline rapidly as shorts get squeezed into buying back their positions and ending their bearish pain.
The bottom line: We havenât seen the end of the current Tesla bull rally. (And we havenât even touched on Model 3 fart noises yet!)
Better: Hot Pants, Hot Stock
âWhat retail apocalypse?â
Thatâs what investors in Lululemon Athletica Inc. (Nasdaq: LULU) must be thinking today. The athleisure apparel retailer just lifted its earnings and sales forecasts for the holiday quarter due to strong seasonal demand.
Lululemon lifted its earnings expectations by $0.12 to between $2.22 and $2.25 per share, with revenue expected to come in between $1.37 billion and $1.38 billion â a $5 million boost to prior guidance.
Thatâs a lot of yoga pants. Enough to push LULU shares to a fresh all-time high.
If Lululemon teaches us anything about retail, itâs that this so-called retail apocalypse isnât affecting every retailer. Only the ones that apparently canât adapt quickly enough to changing retail demands. On that note, Lululemon already learned its lesson, and itâs executing impressively right now.
Best: In the Cards for Big Data
If youâre not familiar with Cardlytics Inc. (Nasdaq: CDLX), you need to get familiar now.
The company specializes in analyzing banking rewards program data and turning that information into actionable marketing and advertising strategies. While this may sound boring â letâs be honest, digging through someoneâs bank rewards data would put all of us right to sleep â Cardlyticsâ business model is very profitable.
The company has beaten Wall Streetâs earnings projections in every quarter for the past year. And itâs about to do so once again. Cardlytics just announced preliminary fourth-quarter results, and Wall Street is shocked.
The company expects total revenue to be between $68.5 million and $69.5 million on total billings of between $99 million and $101 million. Now, those numbers may not mean a lot to you, but Wall Street is very impressed, let me tell you.
How impressed? CDLX shares are up more than 21% following the preliminary announcement.
Itâs a vulnerable time for a lot of these young dudes, feel me? They donât be taking care of their chicken right. ⌠Iâll tell yâall right now while yâall in it, take care of your bread so when youâre all done you can go ahead and take care of yourself.
â Marshawn Lynch, Seattle Seahawks running back
After losing to the Green Bay Packers last night, Lynch refused to offer up your typical sportsball clichĂŠs â and instead offered up a unique perspective on money. Clearly, Lynchâs commentary was aimed at NFL players â 80% of whom suffer from financial stress shortly after retiring.
However, Lynchâs words of caution also apply to anyone when it comes to retirement, echoing the Great Stuff motto of âbe prepared.â
I wonder if we could get away with changing that to: âAre you taking care of your chicken right?â or âAre you making bread to keep yourself ahead?â
Maybe weâll just leave that to Marshawn. That seems best.
Great Stuff Helps You Protect Your Bread
Mr. Great Stuff, you couldâve left the analogy in the last section.
I see your point and sidestep it to tell you the best way to care for your chicken â er, wealth.
If youâre serious about maintaining your wealth, freedom and independence in a (sometimes) scary world, Ted Bauman has your back.
Having worked with clients as high and mighty as the United Nations, the World Bank and the South African government, Tedâs not your ordinary âbusiness consultant.â Instead, youâll find that Ted cares about teaching you how to protect your money just as much as growing it.
Tedâs thousands of subscribers already know his no-holds-barred perspective from The Bauman Letter ⌠but hereâs your chance to reap Tedâs wisdom free.
Itâs the best news you could get on a Monday ⌠Ted and company are bringing market insights and real-world commentary to your inbox with the new Bauman Daily! Donât miss out on the tips and tricks that can keep your money safe ⌠click here to start reading.
Remember, itâs a vulnerable time for a lot of these young dudes (and dudettes) ⌠feel me?
Until next time, good trading!
Regards,
Joseph Hargett
Great Stuff Managing Editor, Banyan Hill Publishing
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Amazon has its best holiday season ever
Amazon said this holiday season was another record-setter. The overall retail sector had a big year too, signaling that the decade-long economic expansion in the United States still has some legs left in it.
Buoyed by sales of tens of millions of its own gadgets, Amazon said its top-sellers this holiday season included the Echo Dot, Fire TV Stick and Echo Show 5. The Alexa-enabled devices have been huge hits for Amazon in the past several years, helping the company capture the largest share of the voice assistant market.
People bought stuff Amazon didnât make, too. Third-parties sold way more products on Amazon this year than they did last year. Although Amazon is notoriously and, for investors, annoyingly coy about specific sales data, the company said third-party product sales increased by a double digit percentage over last year, surpassing one billion items sold.
Among the most popular were LOL Surprise Glitter Globe Doll Winter Disco Series with Glitter Hair, iRobotâs Roomba 675 vacuum and, of course, the perennially popular Instant Pot Duo 80 pressure cooker. Well, those were the most popular items for humans. Dogs enjoyed SmartSticks peanut butter chews, and cats were particularly into Temptations Classic cat treats this holiday season.
âThe Guardiansâ by John Grisham was the most-sought-after book during the holidays. âHome Aloneâ was the most-searched holiday movie on Fire TV, and Mariah Careyâs âAll I Want for Christmas is Youâ has been the most-played song on Amazon Music since Thanksgiving.
Amazonâs stock rose about 1% Thursday.
How everyone else fared
People also shopped at places other than Amazon. The strong economy and shortened holiday season helped stores score big off last-minute shopping.
MasterCard reported Thursday that American retail sales rose 3.4% between November and Christmas Eve, compared to a year ago. Online sales soared 18.8% but only 1.2% for in-store sales. Still, digital only made up less than 15% of sales, so the much-discussed brick-and-mortar retail apocalypse may have to wait.
In its SpendingPulse report, the credit card company noted that a late Thanksgiving (compared to 2018) essentially took a week out of the holiday shopping season. To make up for that, retailers started offering holiday deals before Thanksgiving, helping boost overall sales.
Last-minute shopping helped too. Saturday, December 21, also known as Super Saturday, was US retailâs best day ever, pulling in a record $34.4 billion, according to Customer Growth Partners, a consulting and research firm. That totaled more than four times the sales from this yearâs Cyber Monday.
Electronics and appliances won the holiday shopping season, with sales soaring 4.6% over last year (and 10.7% online), MasterCard reported. Specialty apparel was the online winner, soaring 17%. Jewelry was a big hit too. Sales grew 1.8% overall and 8.8% online.
But department stores struggled. Sales fell 1.8% overall, even as online sales grew 6.9%. Big department stores, such as Sears, JCPenney, Kohlâs and Macyâs, have lost shoppers to big-box stores, such as Walmart and Target. Specialty stores and Amazon have also captured customers from department stores, which have been hurt particularly hard by slumping traffic at malls.
Tiffany, which has struggled lately because of the trade war with China, said its sales were up between 1% and 3% between November 1 and December 24, compared with 2018. Overall Chinese sales improved, even though a recession in Hong Kong continued to weigh on sales. Protests in Hong Kong have weighed on that regionâs economy.
Tiffany will close its flagship store on Fifth Avenue in New York in the middle of January so it can renovate the iconic store. It will temporary move around the corner. The companyâs stock was unchanged Thursday.
from FOX 4 Kansas City WDAF-TV | News, Weather, Sports https://fox4kc.com/2019/12/26/amazon-has-its-best-holiday-season-ever/
from Kansas City Happenings https://kansascityhappenings.wordpress.com/2019/12/26/amazon-has-its-best-holiday-season-ever/
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Abercrombie & Fitch Tried to Escape Its Body-Shaming, Whitewashed Image. It Couldnât.
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In the 1990s and early aughts, Abercrombie & Fitch dominated the teen apparel market. Its stores, offering a full sensory experience, were a destination, and its clothes â embodying the logo-embossed uniform of the decade â were coveted. Then, something started to change.
Customers seemed to grow tired of the Abercrombie & Fitch song and dance. The stores, they complained, were too dimly lit, the music too loud, and the smells too strong; the advertisements were too sexual, too white. Its then-chief executive, Mike Jeffries, body-shamed shoppers who didnât fit the model (pun intended) of what he called Abercrombieâs âcoreâ customer, famously telling Salon in 2006: âCandidly, we go after the cool kids. We go after the attractive all-American kid with a great attitude and a lot of friends. A lot of people donât belong [in our clothes], and they canât belong. Are we exclusionary? Absolutely.â
And then the A&F clothes themselves lost their appeal.
Abercrombie & Fitch, a company known for its scantily clad models, is exploring a sale after years of declining business. (Photo: Getty Images)
Now, despite a four-year-plus turnaround effort that has largely fallen flat, Abercrombie & Fitch is looking for buyers, exploring the sale of a company that was once the destination for mall-bound teens â not to mention typically jaded New Yorkers, who often stood in long lines just to get inside a favorite Manhattan location.
Photo: Getty Images
It doesnât help that shopping malls in general face a looming death-by-online-shopping, with too many retail locations and not enough foot traffic to sustain them. (As of January, Abercrombie operated 709 stores in the United States and 189 stores internationally.)
But for A&F, the companyâs precipitous decline seems to be not only about the retail apocalypse but about becoming so far removed from the cultural zeitgeist that it could no longer connect with the teen masses of its core customer base.
Abercrombie & Fitch stores, like their sister store, Hollister, were known for being dimly lit, incredibly loud, and offensively pungent. (Photo: Getty Images)
âAbercrombieâs sensibility, the idea of Abercrombie & Fitch, couldnât be a more polar opposite of what millennials want,â says retail trend analyst Charcy Evers. Before 2014, that sensibility was logomania, ultra-low-rise jeans for hundreds of dollars, and polos in every color of a 64-count Crayon box.Â
But as the company tried to pivot to meet consumer demands for uniqueness and inclusion, it lost most of what made the Abercrombie brand iconic. âIn their desire to tone down who they were, with the overtly sexual images in your face, or the logos, they definitely toned down the aesthetic to make it more pleasing, cleaner,â Evers says. âBut in that transition, you look at the site and wonder: Who are you?â
A look at Abercrombieâs website shows clothes no longer stamped with the famous Abercrombie moose logo. Instead, there are overpriced items, like these military jackets, that offer nothing to customers that they canât find elsewhere â for less money. (Photos: Abercrombie.com)
It was, ironically, a fate that Jeffries aimed to have A&F avoid, since he noted in that same 2006 interview that companies with a more inclusive philosophy were boring.
âThose companies that are in trouble are trying to target everybody: young, old, fat, skinny,â he said. âBut then you become totally vanilla. You donât alienate anybody, but you donât excite anybody, either.â
And in the age of fast fashion, where everything looks the same and retailers are in a race to the bottom to offer the lowest prices, a $120 price tag for a lifeless military jacket appears to be the furthest thing from a hot-ticket item.
Conversely, customers donât seem to mind paying discounted prices for Abercrombie on resale sites like thredUP, where 81 percent of A&F items listed on the website sell within three months. But resale doesnât exactly help foster an image of prestige.
Bottom line: Abercrombie canât blame all its problems on the death of the shopping mall. Because this latest move feels more like social suicide.
Read more from Yahoo Style + Beauty:
Spanx Founder Sara Blakely Shares Empowering Message About Following Your Dreams
Every College Accepted Her: âBlack-ishâ Star Yara Shahidi Is Hollywoodâs Most Stylish History Nerd
Woman Shares Mastectomy Scar and Powerful Message: âRepresentation Mattersâ
Follow us on Instagram, Facebook, and Pinterest for nonstop inspiration delivered fresh to your feed, every day. For Twitter updates, follow @YahooStyle and @YahooBeauty.
Alexandra Mondalek is a writer for Yahoo Style + Beauty. Follow her on Twitter @amondalek.Â
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#_author:Alexandra Mondalek#_uuid:ea06b637-6f08-3b87-831e-60cc32d11bd4#abercrombie & fitch#Fashion#abercrombie#shopping mall#hidden:vv_3x4:bd36f21d-23ef-3181-b742-d0a17cb81ba3#_lmsid:a0Vd000000AE7lXEAT#_revsp:wp.yahoo.style.us#hidden:vv_3x4:e4f6edd0-2194-35aa-9759-d0a05be43ab8#News#hidden:vv_1x1:f20ef73d-b9c4-364e-82f0-9fe46f3dcd77#style#Shopping
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Retail Apocalypse Will Confront a New Crop of CEOs in 2020
(Bloomberg Opinion) âMany of the retail industryâs challenges in 2020 will be familiar, such as adapting to the rise of e-commerce and trade-related uncertainty from Washington. But the lineup of CEOs navigating those conditions will include many new faces.
There were more CEO exits in the retail industry in 2019 than in any year since at least 2010, according to data from Challenger, Gray & Christmas.
The leadership shake-ups in retail donât appear to fit any particular pattern. There were carefully choreographed, harmonious baton passes, such as Best Buy Co. naming Corie Barry to succeed Hubert Joly. There were bombshells such as Steve Easterbrookâs abrupt ouster from McDonaldâs Corp. over an inappropriate relationship with an employee. There were rebukes of poor performance, such as Art Peckâs departure from Gap Inc. And there were some left-field surprises, such as Tractor Supply Co. poaching Hal Lawton from Macyâs Inc.
Retailâs recent bout of turbulence at the top is not such an outlier in corporate America; Bloomberg Opinionâs Stephen Mihm recently noted an uptick in CEO departures overall in the past few months. But it adds a certain intrigue about which retailers will end up in the winnersâ circle next year.
Read:Â CEO Departure Rate Highest in 17 Years. What This Says About the Economy
Here are predictions for how some of the more high-profile episodes of C-suite musical chairs will play out.
CEO changes that are reason for optimism: By the time activist investor pressure finally led Bed Bath & Beyond Inc. to dump longtime CEO Steven Temares, the move was long overdue. But the board has scored by luring Mark Tritton â the chief merchant at its on-fire competitor, Target Corp. â for the job. Trittonâs experience creating covetable private-label brands and reimagining store displays are exactly what the big-box home goods chain needs. Meanwhile, though Gap has not yet named a permanent successor for the now-departed Peck, the company may be better off without a leader who tried but failed for five years to revive its flagship brand.
CEO changes that are reason for pessimism: The biggest headscratcher comes from Nike Inc., which announced that CEO Mark Parker is to be replaced in January by John Donahoe, a former ServiceNow and eBay Inc. executive. Sure, Donahoe knows Nikeâs business from serving on its board, but his tech-centric resume is a weird fit for a company that thrives on its marketing savvy and merchandising expertise. There is potential for trouble, too, in the leadership plans of Under Armour Inc., where founder Kevin Plank is set to relinquish the CEO title to COO Patrik Frisk in the new year. Plank is to become chairman and âbrand chief,â and Frisk will still report to Plank. This set-up is reminiscent of when Ralph Lauren first tried to step back from the CEO role of his namesake company while staying on in a creative position. The fashion mogul clearly had trouble releasing the reins, and it cost the company a highly capable CEO, Stefan Larsson.
Elsewhere in the apparel world, Ascena Retail Group Inc., corporate parent of Ann Taylor, Lane Bryant and other brands, probably will regret tapping an insider, Gary Muto, to replace David Jaffe. This company needs the kind of total overhaul that an outsider would be better equipped to pull off.
CEO changes that promise business as usual: Electronics giant Best Buy is in good hands under Barry, a veteran executive of the chain who had served as its CFO and chief strategic growth officer. Thing is, the electronics giant was already in good hands under Joly, who had steered the chain through an improbable comeback. So expect steadiness for the retailer in the year ahead âby no means a bad thing. Same goes for McDonaldâs: Even though it said goodbye to a successful CEO under far more soap-operatic circumstances, his replacement, Chris Kempczinski, is a close lieutenant poised to stick to the same playbook that has fueled the fast-food giantâs recent strength.
CEO change wild card: Itâs understandable that Tapestry Inc.âs board had lost confidence in recently departed CEO Victor Luis. The company that used to be named Coach has been struggling to boost the Kate Spade brand it acquired in 2017, a bad sign for a company intent on transforming into a luxury conglomerate. Luis has been replaced by Jide Zeitlin, a longtime Tapestry board member. He has little experience in the retail or fashion worlds, which is concerning. But his finance industry chops could prove invaluable in future deal-making â an essential ingredient in the companyâs quest for growth.
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