Retail Roundup | September 2024
As a retail technology company obsessed with data, we at Tillerman are constantly looking at the trends and forecasts shaping the retail industry broadly. The start of 2022 continued to bring challenges with supply chain issues, inflation and of course Omicron having an impact, but there were bright spots as well. Heres a roundup of some of the retail stories that caught our eye this month.
Labor Day weekend mall traffic saw a notable increase year-over-year and surged significantly compared to 2019, offering a positive signal for brick-and-mortar stores and retail as a whole. As the industry turns its attention to Holiday 2025, Target is maintaining its seasonal hiring at around 100,000 positions and plans to expand its holiday gift selection by 50%, with most items priced below $25.
In the high-end department store sector, the Nordstrom family is making moves to take the company private with backing from Mexican retailer El Puerto de Liverpool. Financial activity is heating up in this space, and it will be fascinating to see how the landscape evolves.
Dick’s Sporting Goods delivered another strong quarter, attributing its success to a focus on product assortment and enhancing the customer experience. GIII continues to adapt following its shift in brand portfolio post-PVH, and so far, the company is optimistic about its future. In contrast, PVH is facing a legal battle with China, which could have major implications if sanctions are imposed. On the broader China front, fast fashion giants like Shein and Temu may need to adjust their pricing strategies if the U.S. administration moves forward with restrictions on the types of goods that qualify under the de minimis exemption. However, these large companies are likely well-equipped to navigate such changes.
Macy’s is gearing up for the October launch of its new private label streetwear brand, Mode of One. Meanwhile, Puma has teamed up with Google to integrate AI into its direct-to-consumer business, aiming to strengthen its connection with customers. In another step toward its turnaround, JC Penney announced an adaptive clothing line collaboration designed for women in wheelchairs, signaling a more inclusive approach.
Kohls also introduced a fresh initiative, unveiling a new platform aimed at boosting in-store business. The focus will be on "real-life" family events rather than the idealized family moments typically seen in marketing—a refreshing take, and it will be interesting to see what kind of scenarios they choose to feature.
Lastly, congratulations are in order for United Legwear, which Authentic Brands has appointed to manage Ted Baker's e-commerce business across the UK and Europe, while also leading the brand's U.S. relaunch. This could be a significant step in Ted Baker's resurgence.
<< Return To News