ReportWire

Tag: Retail

  • CEO’s ‘Powerful’ Business Change Leads to 8-Figure Revenue | Entrepreneur

    [ad_1]

    “It’s always been my dream to be a CEO of a fashion brand,” Ginny Seymour, CEO of contemporary women’s fashion brand Aligne, tells Entrepreneur.

    Image Credit: Courtesy of Aligne. CEO Ginny Seymour.

    A fashion industry veteran who started her career as a contemporary buyer at Saks Fifth Avenue, Seymour had an opportunity to realize that goal with Aligne, originally founded by Dalbir Bains as a wholesale women’s fashion brand in London in 2020.

    Seymour envisioned a new era for Aligne — the brand could fill a white space she saw in modern women’s clothing: the need for design-led, wearable pieces at an accessible price point, delivered with an omnichannel approach.

    Related: 5 Things I Wish Someone Had Told Me Before I Became a CEO

    Seymour set out to make it happen, essentially “refounding” the company. She joined the business as managing director in 2022, relaunched Aligne under her vision in 2023 and was officially named CEO in 2024.

    Image Credit: Courtesy of Aligne

    “I felt partners [had to be] a huge part of the story.”

    During her first several years as CEO, Seymour focused on Aligne’s community building online and “design handwriting,” then branched out from a direct-to-consumer strategy to an omnichannel approach with U.S. retail partners.

    In fact, despite being a London-founded brand, Aligne sees a larger part of its business unfolding in the U.S., Seymour says.

    The CEO even recently relocated from London to New York to support the U.S. office and team as the brand continues its expansion.

    “ We’re still based in the UK, so I travel back and forth,” Seymour says. “London to me is our creative hub; it’s part of our DNA being a British brand. That’s super important to me and something we don’t want to lose. So we’re very much creatively driven out of London, but commercially driven out of the U.S.”

    Image Credit: Courtesy of Aligne

    Related: ‘We Got So Many DMs’: This 27-Year-Old Revamped Her Parents’ Decades-Old Business and Grew Direct-to-Consumer Sales From $60,000 to Over $500,000

    As a still relatively young British brand, Aligne gains validation with a U.S. audience through retailers that have loyal customer bases.

    “In  the UK, it’s easier to be direct-to-consumer only because the UK is much smaller and more attainable,” Seymour says. “But in the U.S., to resonate as the next contemporary brand that people should be looking at, I felt partners [had to be] a huge part of the story.”

    Aligne recently launched with Nordstrom, a retailer Seymour says she’d always hoped to partner with one day, after the company direct-messaged her to express its interest in the brand. Aligne is also available at Anthropologie.

    Image Credit: Courtesy of Aligne

    Related: Her Self-Funded Brand Hit $25 Million Revenue Last Year — And 3 Secrets Keep It Growing Alongside Her ‘Mischievous’ Second Venture: ‘Entrepreneurship Is a Mind Game’

    “There’s less visibility [into] the analytics and who your customer is. You have to really listen.”

    Despite the long-term goal to expand in retail, Seymour first prioritized understanding Aligne as a brand and its relationship to customers before tackling those partnerships, appreciating how important that strategy is for sustainable success.

    Whether you’re refounding a business that already exists or starting one from scratch, knowing who your customer is — and quickly — will make or break its growth.  ”And that’s easier said than done,” the CEO notes. “There are so many factors. With every iOS update, there’s less visibility [into] the analytics and who your customer is. You have to really listen.”

    Aligne’s target customers are “confident, working” women, and acknowledging what those consumers wanted in a clothing line helped guide the brand’s design shift and the direction of its collection, Seymour says.

    Related: This Is the Real Secret to Exceeding Your Customer’s Expectations

    Dialing into that customer base is paying off. Aligne ended its fiscal year in July 2025 with 56% year-over-year revenue growth and revenue approaching eight figures.

    Most of Aligne’s pieces are priced between $100 and $300. Although Seymour recognizes why some brands evolve into the “premium contemporary” space amid rising costs and tariff challenges, she says the company is committed to its accessible price point.

    Image Credit: Courtesy of Aligne

    “I quickly had to learn where I didn’t want to lean and how to make sure to get the support.”

    Being a CEO is a lot harder than Seymour thought it would be when she was 20 years old, she admits. But she appreciates how the job has allowed her to draw on her experience as a buyer, which demanded a “balance of art and science” much like the executive role does.

    “[There might be a] week that I’m so artistic and designing the concept and the line, and there’s other days where I’m definitely leaning into the science,” Seymour says. “But I quickly had to learn where I didn’t want to lean and how to make sure to get the support in those areas because a CEO wears so many hats.”

    Related: I Founded a $1.7 Billion Startup for Small Businesses — Here’s the Secret Every Entrepreneur Should Know

    One of the biggest lessons Seymour’s learned during her tenure as CEO so far is the value in listening to her instincts — even when it’s difficult. Over the first couple of months of the company’s refounding, Seymour sometimes hesitated to say what she wanted, then didn’t get the results that she desired.

    “Three months in, I had this moment where I brought the team together and was much clearer about what I wanted,” Seymour says. “That brought them more on the journey with me, and it solidified us as a team and our values. If you have an idea and you’re building your own business, trusting your gut and not being scared to say it is powerful.”

    “It’s always been my dream to be a CEO of a fashion brand,” Ginny Seymour, CEO of contemporary women’s fashion brand Aligne, tells Entrepreneur.

    Image Credit: Courtesy of Aligne. CEO Ginny Seymour.

    A fashion industry veteran who started her career as a contemporary buyer at Saks Fifth Avenue, Seymour had an opportunity to realize that goal with Aligne, originally founded by Dalbir Bains as a wholesale women’s fashion brand in London in 2020.

    The rest of this article is locked.

    Join Entrepreneur+ today for access.

    [ad_2]

    Amanda Breen

    Source link

  • Starbucks workers in Colorado sue over company’s new dress code

    [ad_1]

    Starbucks workers in Colorado and two other states took legal action against the coffee giant Wednesday, saying it violated the law when it changed its dress code but refused to reimburse employees who had to buy new clothes.

    The employees, who are backed by the union organizing Starbucks’ workers, filed class-action lawsuits in state court in Illinois and Colorado. Workers also filed complaints with California’s Labor and Workforce Development Agency. If the agency decides not to seek penalties against Starbucks, the workers intend to file a class-action lawsuit in California, according to the complaints.

    Starbucks didn’t comment directly on the lawsuits Wednesday, but the company said it simplified its dress code to deliver a more consistent experience to customers and give its employees clearer guidance.

    “As part of this change, and to ensure our partners were prepared, partners received two shirts at no cost,” the company said Wednesday. Starbucks refers to its employees as “partners.”

    Starbucks’ new dress code went into effect on May 12. It requires all workers in North America to wear a solid black shirt with short or long sleeves under their green aprons. Shirts may or may not have collars, but they must cover the midriff and armpits.

    Employees must wear khaki, black or blue denim bottoms without patterns or frayed hems or solid black dresses that are not more than 4 inches above the knee. The dress code also requires workers to wear black, gray, dark blue, brown, tan or white shoes made from a waterproof material. Socks and hosiery must be “subdued,” the company said.

    The dress code prohibits employees from having face tattoos or more than one facial piercing. Tongue piercings and “theatrical makeup” are also prohibited.

    Starbucks said in April that the new dress code would make employees’ green aprons stand out and create a sense of familiarity for customers. It comes as the company is trying to reestablish a warmer, more welcoming experience in its stores.

    Before the new dress code went into effect, Starbucks had a relatively lax policy. In 2016, it began allowing employees to wear patterned shirts in a wider variety of colors to give them more opportunities for self-expression.

    The old dress code was also loosely enforced, according to the Colorado lawsuit. But under the new dress code, employees who don’t comply aren’t allowed to start their shifts.

    Brooke Allen, a full-time student who also works at a Starbucks in Davis, California, said she was told by a manager in July that the Crocs she was wearing didn’t meet the new standards and she would have to wear different shoes if she wanted to work the following day. Allen had to go to three stores to find a compliant pair that cost her $60.09.

    Allen has spent an additional $86.95 on clothes for work, including black shirts and jeans.

    “I think it’s extremely tone deaf on the company’s part to expect their employees to completely redesign their wardrobe without any compensation,” Allen said. “A lot of us are already living paycheck to paycheck.”

    Allen said she misses the old dress code, which allowed her to express herself with colorful shirts and three facial piercings.

    “It looks sad now that everyone is wearing black,” she said.

    [ad_2]

    Dee-Ann Durbin

    Source link

  • Rebel, BCF owner sacks CEO over workplace relationship

    [ad_1]

    Super Retail Group has sensationally dumped its chief executive after new information about a relationship he had with a co-worker came to light.

    The company behind popular big-box retail brands Rebel, Supercheap Auto, BCF and Macpac told investors on Tuesday that Anthony Heraghty’s termination had been made with immediate effect.

    “The board made this decision after receiving new information from Mr Heraghty regarding his relationship with the company’s former chief human resources officer,” the company said.

    “In light of this new information, the board has concluded Mr Heraghty’s prior disclosures were not satisfactory.”

    The board offered no details on what new information about the relationship prompted its immediate dismissal of the recently divorced chief executive.

    The dramatic move comes amid a long-running court feud between SRG and two former employees who claim Mr Heraghty’s relationship with former HR boss Jane Kelly created a toxic workplace environment.

    The board had previously defended Mr Heraghty against allegations that an illicit affair had taken place, as well as claims of bullying and a toxic culture.

    Investors held off an immediate mass exodus amid the fresh wave of chaos at the top of the company in early trade, with the stock down just 2 per cent to $16.93.

    SRG said it had also “exercised its discretion” to lapse Mr Heraghty’s incentives, which includes all unvested stock incentives and vested but unexercised rights.

    Chief financial officer David Burns has been appointed interim boss while the company starts a search for Mr Heraghty’s replacement.

    Federal Court documents last year alleged Mr Heraghty had an illicit affair with Ms Kelly that created a toxic culture within the $3 billion listed company.

    The court papers revealed allegations of an “unhealthy culture” that developed as a result of Mr Heraghty and Ms Kelly’s alleged conduct, with SRG’s former chair Sally Pitkin also heavily criticised.

    A statement of claim lodged by SRG’s former chief legal officer and company secretary Rebecca Farrell alleged staff did not feel they could report concerns about a culture of bullying to the board.

    This was because Ms Pitkin “is very close to the CEO and (Ms Kelly), and they feel chair Pitkin would somehow sweep such matters under the carpet”.

    SRG staff who reported to or worked with Ms Farrell on several occasions from about May 2021 also made disclosures that they were under pressure and unable to do all aspects of their work, the documents said.

    This caused them stress and risks to their health and safety, it is alleged.

    SRG earlier this year delivered its defence to the claims that contradicted Ms Farrell allegations.

    The case is due to return to court later this month.

    The company warned in April last year that it was expecting legal proceedings to be filed by two workers and flagged anticipated losses and damages of between $30 million and $50m.

    The claims centred on claims the relationship between Mr Heraghty and Ms Kelly was not disclosed, inappropriate company travel and bullying.

    It also made allegations of victimisation and adverse treatment, particular employees in the corporate team having unreasonable workloads, insufficient resources and restricted access to information, and unsatisfactory company record management.

    At the time, SRG said the board had conducted a review and investigations into these allegations.

    “The board was supported by independent external advisers. The board’s review and investigations concluded that none of the allegations are substantiated,” it had said.

    E&P Financial Group retail analyst Kade Madigan said he was surprised by the timing of Mr Heraghty’s termination given how long it had been since the board’s investigations were initiated.

    “In regard to the ongoing court cases, we note a number of subpoenas had been filed on September 10 and 11 with the court scheduled to re-adjourn on September 24,” Mr Madigan said.

    “We had previously anticipated that SRG would host an investor day later in CY25 to update the market with a refreshed longer-term strategy.

    “We would expect this will still occur; however the timing will now be dependent upon the appointment of a new long-term CEO.”

    Mr Heraghty has been managing director since April 2015, and was given the additional title of CEO in February 2019.

    SRG last month posted record annual revenue of $4.1 billion in the year ended June 28, up 4.5 per cent from a year ago, from its network of 782 stores. But statutory net profit slumped 8 per cent from a year earlier, coming in at $222m.

    [ad_2]

    Source link

  • Designer Discounts are the Secret of ‘Denim Whisperers’ at this Underrated Consignment Shop

    [ad_1]

    From the ubiquitous Taylor Sheridan multiverse to Beyoncé’s ads for Levi’s hitting us from all angles, pop culture is giving good ol’ denim another turn in the spotlight. However, as the wardrobe staple enjoys another 15 minutes of fame, many of us could use some jean therapy…

    [ad_2]

    Lisa Petty

    Source link

  • Efforts underway to fill empty merchant spaces at Signia hotel in San Jose

    [ad_1]

    SAN JOSE — Wide-ranging efforts are underway to find merchants to fill the empty ground-floor spaces along two sides of the Signia by Hilton San Jose, endeavors that could help lift the downtown economy if they succeed.

    Colliers, a commercial real estate firm, has begun to scout for dining establishments and retailers for the hotel tower at 170 South Market St.

    “We are looking to lease about 30,000 square feet of spaces at the Signia,” said Nick Goddard, a senior vice president with Colliers. “We are going to put some high-end restaurants in some of those spaces. These will be very fine, swanky dining establishments.”

    Some of the spaces will be leased to retailers, such as personal salons and spas, according to Goddard.

    “We are already getting inquiries from some top-level restaurants,” Goddard said.

    The spaces are for the sides of the building that front on the Paseo de San Antonio and South First Street, according to Goddard.

    “Marketing efforts are not the problem with filling these spaces, it’s the uncertainty of the time and cost it will take to permit and occupy the spaces,” said Bob Staedler, principal executive with Silicon Valley Synergy, a land-use and planning consultancy.

    Finding more merchants for downtown San Jose is deemed crucial ahead of the potential influx of visitors expected to attend three mega sports events that are slated to occur in the South Bay during 2026.

    “The City of San Jose needs to step up and provide proactive assistance in filling these key spaces,” Staedler said. “The wait-and-see approach has not been working to date. We don’t need to wait until after 2026 to realize that this is a problem.”

    The 541-room, 22-story Signia by Hilton is San Jose’s largest hotel and was seized by its lender, BrightSpire Capital, through a foreclosure on May 12.

    The lender’s foreclosure placed a value of $80 million on the hotel, which was 41% below the $134 million loan for the property.

    During a July conference call with Wall Street analysts to discuss financial results, BrightSpire discussed its plans for the hotel in the wake of the foreclosure.

    “Our intention is to make much-needed and neglected physical and operational improvements to the property ahead of significant events taking place in the Bay Area through mid-2026,” BrightSpire CEO Mike Mazzei told analysts. “We want to do things that we need to do to get that hotel fully operational and in peak condition before those events.”

    The hotel fell into some level of disrepair as the prior ownership group was preoccupied with three court proceedings that were filed in an attempt to retain control of the property, according to BrightSpire.

    “During the protracted foreclosure process, the hotel experienced meaningful deferred maintenance,” Mazzei said. “There was some distress at the asset. There were just basic things like elevators. Some elevators were not operating and offline.”

    BrightSpire has signaled the possibility that it might attempt to sell the hotel after the major sporting events next year.

    San Jose hotel operators hope to capitalize on the Super Bowl, multiple matches for the FIFA World Cup, and several of the games of the men’s college basketball tournament that are being held in the South Bay in 2026.

    [ad_2]

    George Avalos

    Source link

  • La Alma Lincoln Park residents weigh new Broncos stadium at Burnham Yard: ‘It’s going to change everything’

    [ad_1]

    Two schools of thought flitter through the streets just behind the Denver Broncos’ planned future home, separated by just one block but standing an entire world apart.

    On a sunny Tuesday morning, 35-year-old Rita Guerrero stepped out from her door on North Mariposa Avenue, lively pup Olive barely contained by her leash. Guerrero bought her home in the La Alma Lincoln Park neighborhood five years ago, and smiled when she thinks of the wealth of possibilities that now exist a quarter mile away at the defunct Burnham Yard.

    The Broncos just announced their plans to construct a new stadium in her backyard, and it could mean a livelier neighborhood. And exciting features for families. And increased property values.

    “This is very exciting,” Guerrero beamed. “I’m very happy. It’ll be great for the team, great for the neighborhood. I really see that there’s, probably — I mean, there really can only be upside.”

    Broncos name Burnham Yard preferred site for new stadium development

    On a cloudy Tuesday afternoon, a few hundred feet away, 46-year-old Nicole Jones and 51-year-old Desiree Maestas crossed onto North Lipan Street, discussing the change to come. Jones has lived all her life a few houses up the block, and frowned when she thinks of the wealth of possibilities that now exist with the Broncos’ professed plan to develop at Burnham Yard.

    It could mean more traffic. And more construction. And increased property values.

    “I think it’s going to change everything,” Jones said. “Because everything’s going to go up. Especially in this neighborhood, everything’s going to go up. And a lot of us ain’t even going to be able to afford to live here anymore. Because the stadium is going to be right in our neighborhood. Right in our backyard.”

    “So, yeah,” she repeated, somber. “We’re not going to be able to afford to live here no more.”

    Residents of La Alma Lincoln Park who spoke to The Denver Post on Tuesday were split on the complicated reality that now awaits, after the Broncos officially announced that they’ve zeroed in on Burnham Yard as the planned site of a privately-financed mixed-use stadium district.

    Some residents lamented the change that continues to rattle the historic Denver neighborhood, one that has already experienced generations of displacement. Some residents championed the city’s efforts to keep the team local: they are the Denver Broncos, 39-year-old Barbara Ott emphasized from her porch, not the Lone Tree Broncos.

    The general median is a sort of cautious optimism, as community leader Simon Tafoya put it.

    [ad_2]

    Luca Evans, Elizabeth Hernandez

    Source link

  • Costco Launches Exclusive “VIP Hour” for Exec Members

    [ad_1]

    Costco Executive cardholders now have exclusive access to warehouses for an hour before all other memberships.

    Courtesy Eduardo Barraza via Adobe Stock
    Credit: Courtesy Eduardo Barraza via Adobe Stock

    Costco’s new policy allowing “executive” membership holders to shop exclusively for an hour each weekday is going into effect starting this month. 

    Announced earlier this year, the retail wholesaler has begun enforcing a new perk to its highest-tier membership. Dubbed “VIP Hour,” customers with the “executive” membership can exclusively shop from 9 a.m. to 10 a.m. on weekdays and Sundays. And 9:30 a.m. to 10 a.m. on Saturdays.

    The decision was first announced in June, with the intention of providing members with a less crowded shopping experience. But stores were granted a “grace period” to prepare for and ultimately implement the new rule. 

    Now, Costco warehouses nationwide will be applying this rule, including the pharmacy and food court. 

    The new change has not been met with mixed responses, many are in support, and others not so much. Commenting on some of their Instagram post on the new VIP hours, Instagram users say, “All customers should be treated equally.” 

    While others express excitement for the latest change, “Costco romancing us, it worked. I’ll be there.” 

    Costco’s Executive membership costs $130 per year, and its Gold Star membership costs $65 per year. With Gold Star membership, customers are allowed two membership cards, access to the warehouses, and to shop online.

    Executive memberships have the same perks but with 2% cashback rewards on purchases, the latest addition of exclusive shopping hours, and $10 monthly credit on Sameday.Costco.com and Costco through Instacart.

    [ad_2]

    Tara Nguyen

    Source link

  • Nestlé fired its scandal-clad CEO without a payout—a ‘really unusual’ move, corporate governance expert says

    [ad_1]

    When Nestlé abruptly ousted its chief executive Laurent Freixe over Labor Day weekend after revelations of a romantic relationship with a direct subordinate, one detail stood out: He was shown the door without a severance package.

    That, according to corporate-governance veteran Nell Minow, is almost unheard-of in the C-suite.

    “That is really unusual,” she told Fortune. “I think that’s actually a badge of success for corporate governance, because that’s something investors have been concerned about for a long time: CEOs being dismissed and somehow getting to stay on.”

    Nestlé confirmed to Fortune that Freixe will not receive a severance package. 

    For years, high-profile executives who crossed ethical lines have left with multimillion-dollar parachutes. Famously, Steve Easterbrook, the former chief executive of McDonald’s, walked away from the role with a hefty sum of $40 million after getting caught having a consensual relationship with a subordinate. McDonald’s later clawed back $105 million from Easterbrook after finding he hadn’t disclosed sexual relationships with other subordinates at the fast food giant.  

    Adam Neumann—after leading a disastrous charge to take the company he founded, WeWork, public—received $445 million in a payout package during his ouster. And after 346 people died in two crashes during Dennis Muilenburg’s tenure as Boeing CEO, he was not awarded severance but still left with more than $60 million in stock options. 

    Minow said these different outcomes show that boards are not always consistent in how they police misconduct, but that one thing remains the same: Social media has left directors with fewer options to look the other way. 

    “There has been bad behavior in the boardroom for a long time,” Minow said. “But partly because of social media, partly because of the way things get out, the board is under more pressure to respond.”

    The reputational fallout from bad behavior can be brutal. A Polish CEO who was recently caught on video snatching a U.S. Open souvenir hat from a child watched his company’s online reviews collapse to near zero in days. The “John” of Papa John’s caused Major League Baseball to pull its promotion with the pizza chain after he used the N-word during a media-training call in 2018. 

    Boards are slowly adapting, Minow argued. Some have begun docking bonuses or moving faster to terminate CEOs “for cause,” meaning the executive in question committed serious misconduct that warrants dismissal without severance pay. But she warned many still demonstrate  a double standard. 

    “If you see some hypocrisy in the board, by the way that they handle the CEO versus the way they handle a middle manager, that’s a green light for employees to behave badly themselves.”

    Even the apology, she said, operates as a test of governance. Minow keeps what she calls an informal “hall of shame” of poor executive apologies. The worst, she explained, dodge responsibility or fail to show how the company will prevent a repeat. The best are blunt, swift, and backed by action.

    Ultimately, Nestlé’s move may prove a turning point. By denying Freixe a golden parachute, the Swiss food giant signaled that boards are starting to treat reputational risk as seriously as financial risk, and that missteps at the top no longer guarantee a cushy landing.

    Fortune Global Forum returns Oct. 26–27, 2025 in Riyadh. CEOs and global leaders will gather for a dynamic, invitation-only event shaping the future of business. Apply for an invitation.

    [ad_2]

    Eva Roytburg

    Source link

  • ’Not me looking at flights to Boston’: Woman says not every T.J. Maxx is made the same. Then she reveals which cities has the best deals

    [ad_1]

    Everyone knows that you can get killer deals at T.J. Maxx. But did you know that you could get even more value for money, based on the branch you shop at? A TikToker who claims her friend is a buyer for T.J. Maxx went viral for sharing this tip in a TikTok that has amassed 1.2 million views.

    “Now every region for T.J. Maxx has like, different buying demands,” Bryce Gruber (@brycegruber) explained. “So what you find in a store in Ohio is not going to be the same as what you find in like a Virginia store or a New York store, or, you know, their headquarters […] actually in the Boston area.”

    She continued that the stores with the “best deals” on the most expensive brands up to 90% off will go to ” either Westchester, certain parts of Connecticut, southern Connecticut, specifically the outskirts of Boston, or North Miami.”

    Gruber says, “Any other region, you’re getting good stuff, but like not the really good stuff.”

    “Not me looking at flights to Boston to go to T.J. Maxx,” one joked in a comment.

    “I need the exact location for north Miami,” another added. While a third admitted, “Girl we knew this that’s why I MUST visit a TJ Maxx anywhere I go in the USA.”

    In a follow-up video, Gruber was a little more specific about where exactly you could find these T.J. Maxx stores. Locations included New York City, Palm Beach County, Broward County, Boca Raton, Norwalk, Cape Cod, and Bergen County.

    Gruber didn’t immediately respond to The Mary Sue’s request for comment via TikTok comment and email.

    @brycegruber FYI I think @TJ Maxx ♬ original sound – brycegruber

    Does T.J. Maxx stock really vary depending on the store?

    While this isn’t said directly by the chain, it’s pretty likely that stock varies based on the T.J. Maxx store because of its opportunistic buying style. Per the T.J.X. website, the business “takes advantage of a wide variety of opportunities, which can include department store cancellations, a manufacturer making up too much product, or a closeout deal when a vendor wants to clear merchandise at the end of a season.”

    The site also claims that new stock is regularly shipped to stores several times a week, and that “store managers typically don’t know what’s coming until they throw open the delivery truck doors.”

    According to T.J.X., there often isn’t any replenishment stock. Given that each store gets its own shipment, it seems likely that T.X.J. stock varies depending on the store you go to. T.J. Maxx didn’t immediately respond to The Mary Sue’s request for comment via email.

    Have a tip we should know? [email protected]

    Image of Charlotte Colombo

    Charlotte Colombo

    Charlotte is an internet culture writer with bylines in Insider, VICE, Glamour, The Independent, and more. She holds a Master’s degree in Magazine Journalism from City St George’s, University of London.

    [ad_2]

    Charlotte Colombo

    Source link

  • Wax Trax Records adding fourth Denver location as vinyl sales rise

    [ad_1]

    Iconic Denver record retailer Wax Trax will open a fourth location along 32nd Avenue in the West Highland neighborhood next month with a promise to tailor its wares to locals.

    The 51-year-old store, whose flagship is at 13th Avenue and Washington Street in Capitol Hill, opened a new location at 200 S. Broadway in April 2024, known as Wax Trax Broadway Bazaar, and cited the success of its mobile-retail unit, as well as its semi-permanent pop-up at Aurora’s Stanley Marketplace, as reasons to expand.

    Workers are readying a fourth location of Denver record store Wax Trax at the corner of 32nd Avenue and Meade Street in the Highland neighborhood. (Provided by Wax Trax)

    “The Stanley has been really great to us, and we were looking to grow there, but no opportunity came to pass,” said majority Wax Trax owner Pete Stidman. “So one day I was kind of frustrated with that and thought, ‘Oh, let me look around,’ because any time our (mobile unit) is over there in the Northside, Sloan’s Lake, Highland or Olde Town Arvada, we sell a lot of records.”

    In fact, Stidman said, the new West Highland location at 3641 W. 32nd Ave. — which hugs the pedestrian-friendly corner of 32nd Avenue and Meade Street — will be the only “walkable” record store west of I-25. He plans to open on Saturday, Oct. 11 in the red-brick storefront that was most recently occupied by home-decor retailer Candelaria. That store closed last year after eight years in business, citing slow sales and foot traffic, according to a GoFundMe page from owner Kristina Thayer.

    A video of the renovation shared with The Denver Post shows fresh coats of black paint on the walls and a jumble of custom-built wooden racks in the center of the 1,000-square-foot store. Stidman declined to name the terms of the lease for the space, which includes a basement that will not be open to customers, but said he plans to stay there for a while.

    “It’s high rent over there, which is all I’ll say. But I do think it’s one of the best places to be west of I-25,” Stidman said.

    The store will employ two record sellers at first, and Wax Trax buyers will adapt and order their inventory based on customer preferences as they learn them, he said. Stidman has a sense that nearby residents listen to a lot of country music, for example.

    Custom wooden racks await a coat of black paint at a new, fourth location of Wax Trax Records at the corner of 32nd Avenue and Meade Street in the Highland neighborhood. (Provided by Wax Trax)
    Custom wooden racks await a coat of black paint at a new, fourth location of Wax Trax Records at the corner of 32nd Avenue and Meade Street in the Highland neighborhood. (Provided by Wax Trax)

    “This is probably risky, but at the same time, what we’re trying to do is reach an economy of scale with how many records we sell,” he said. “I think that helps the store become more sustainable and resilient.”

    Since the pandemic, the metro area has seen several new record stores open as vinyl sales continue to climb and the market for buying and selling LPs at the counter — which Wax Trax will offer — remains strong.

    Vinyl sales rose to $1.4 billion in 2024, according to the Recording Industry of America, with 44 million records sold.

    “Our competition isn’t record stores (like) Twist & Shout,” he said. “It’s online retailers and big box stores, so having a location where we can be walkable in somebody’s neighborhood… that’s where we can steal some sales from frickin’ Walmart.”

    Subscribe to our weekly newsletter, In The Know, to get entertainment news sent straight to your inbox.

    [ad_2]

    John Wenzel

    Source link

  • Texas Legends Unite for the New Lucchese x Dallas Cowboys Boot Collection

    [ad_1]

    These days, boots are made for more than just walking. Returning as this year’s hottest accessory, cowboy boots have sparked a global phenomenon as the obsession with western style (or “Hoity Tonk Style,” as we’ve coined it) has become a wardrobe staple…

    [ad_2]

    Leah Frazier

    Source link

  • Tariffs will take a $100 million bite out of Estee Lauder’s bottom line, company says

    [ad_1]

    The S&P 500 dropped 1% and was on track for its worst day since the first of the month. It’s also heading for a fourth straight loss after setting an all-time high last week. The Dow Jones Industrial Average was down 115 points, or 0.3%, as of 10:50 a.m. Eastern time, and the Nasdaq composite was 1.8% lower.

    Nvidia, whose chips are powering much of the world’s move into AI, dropped 3.7% and was on track to be the heaviest weight on Wall Street for a second straight day following its 3.5% fall on Tuesday.

    Palantir Technologies, another AI darling, sank 9.3% to add to its 9.4% loss from the day before.

    One possible contributor to the swoon was a study from MIT’s Nanda Initiative that warned most corporations are not yet seeing any measurable return from their generative AI investments, according to Ulrike Hoffmann-Burchardi, global head of equities at UBS Global Wealth Management.

    But such companies have also been facing criticism for a while that their stock prices simply shot too high, too fast amid the furor around AI and became too expensive. Nvidia, whose profit report scheduled for next week is one of Wall Street’s next major events, had soared 35.5% for the year so far before Tuesday. Palantir had surged even more, more than doubling.

    The tech stocks still have supporters, though, who say AI will bring the next generational revolution in business.

    Mixed profit reports from big U.S. retailers helped keep the rest of the market in check.

    TJX, the company behind the TJ Maxx and Marshalls stores, climbed 4.4% after beating analysts’ forecasts for profit and revenue. It also raised its forecast for profit over its full fiscal year, while CEO Ernie Herrman said TJX is seeing “strong demand at each of our U.S. and international businesses” and that its current quarter is off to a strong start.

    Lowe’s added 0.9% after the home-improvement retailer delivered a profit for the latest quarter that topped analysts’ expectations. It also said it agreed to buy Foundation Building Materials, a distributor of drywall, ceiling systems and other interior building products, for about $8.8 billion.

    Target, meanwhile, tumbled 7.3% even though it edged past analysts’ expectations for profit in the spring. The struggling retailer said that CEO Brian Cornell plans to step down Feb. 1 and that an insider, 20-year veteran Michael Fiddelke, will replace him. He helped reenergize the company, but it has struggled to turn around weak sales in a more competitive post-COVID retail landscape.

    Estee Lauder dropped 5.8% after offering a forecast for profit this upcoming fiscal year that fell short of Wall Street’s estimates. The beauty company said it expects tariffs to shave roughly $100 million off its upcoming earnings.

    La-Z-Boy sank 13.4% after the furniture maker’s profit and revenue for the spring came up shy of analysts’ expectations. CEO Melinda Whittington said it’s contending with “soft industry demand” and that it’s looking at potential alternatives “to address financial pressure from non-core’ parts” of its business.

    The week’s biggest news for Wall Street is likely arriving on Friday, when Federal Reserve Chair Jerome Powell will give a highly anticipated speech in Jackson Hole, Wyoming. The setting has been home to big policy announcements from the Fed in the past, and the hope on Wall Street is that Powell will hint that an interest rate cut is coming soon.

    The Fed has kept its main interest rate steady this year, primarily because of the fear of the possibility that President Donald Trump’s tariffs could push inflation higher. But a surprisingly weak report on job growth across the country may be superseding that.

    Treasury yields have come down sharply on expectations for coming cuts to interest rates, and the yield on the 10-year Treasury edged down to 4.28% from 4.30% late Tuesday.

    In stock markets abroad, indexes were mixed across Europe and Asia.

    London’s FTSE 100 rose 1.1% despite a report that said inflation in the U.K. rose more than expected through July, in part due to soaring airfares and food prices.

    Tokyo’s Nikkei 225 dropped 1.5% after Japan reported that its exports fell slightly more than expected in July, pressured by higher tariffs on goods shipped to the U.S. Imports also fell from a year ago.

    Hong Kong’s Hang Seng added 0.2%. Shares that trade there of Chinese toy company Pop Mart International Group soared 12.5% after its CEO said its annual revenue could top $4 billion this year and announced the release of a mini version of its popular Labubu dolls.

    Introducing the 2025 Fortune Global 500, the definitive ranking of the biggest companies in the world. Explore this year’s list.

    [ad_2]

    Stan Choe, The Associated Press

    Source link

  • Amazon Signage Stick Turns TVs into Professional Digital Sign Boards

    [ad_1]

    This gadget converts any TV with a USB port into a digital signboard, like the ones you see in restaurants. It’s compatible with dozens of digital signage content management services (subscribed separately) to display and manage one or more digital signs from your phone. In addition to still images, the signage stick can stream 4K video and supports Wi-Fi 6E connectivity.

    [ad_2]

    Paul Strauss

    Source link

  • The burrito king in coffee land: Starbucks CEO Brian Niccol’s most important job is fixing the bad vibes

    The burrito king in coffee land: Starbucks CEO Brian Niccol’s most important job is fixing the bad vibes

    [ad_1]

    Baristas are overworked as they try to churn out a constant stream of complicated customized drinks. Mobile orders and staffing problems have only made the problem worse, and added to longer wait times. There’s often nowhere to sit. In short, it’s the last place anyone would want to linger over a $3.45 cup of coffee, let alone a $6.65 pumpkin spice latte. 

    Customers have noticed. The company released a painful earnings report this week, revealing that fourth-quarter revenues tumbled 3% to $9.1 billion, and the magic retail metric—quarterly global comparable store sales—were down 7%. Ultimately, business challenges prompted the $110 billion coffee chain to suspend guidance last week for the full fiscal year of 2025 “to allow ample opportunity to complete an assessment of the business and solidify key strategies.” 

    Seattle-based Starbucks is betting new rockstar CEO Brian Niccol can turn things around with a strategic plan called “Back to Starbucks.” Niccol, who was offered a $113 million payday to take the barista-in-chief job, is an outsider to the company, which has had four different CEOs since 2022. Starbucks’ board members are banking on the former Chipotle wunderkind, who took over in September, to fix a slew of operational and labor issues. And analysts and experts say he has one overarching mandate: Make the in-store experience the kind of pleasant yet affordable luxury it once was. 

    “Starbucks used to have an energy around it,” Sharon Zackfia, an analyst at William Blair & Co., an investment bank and financial services company, tells Fortune. “Starbucks just needs to figure out how to kind of recapture that love and affinity.”

    Niccol addressed the issue head-on during the company’s earnings call this week, and discussed getting back to the brand’s “core identity.” 

    “We have to get back to what has always set Starbucks apart: a welcoming coffee house where people gather.” 

    The burrito king in coffee land

    When it comes to cultivating an ephemeral atmosphere of luxury, the devil’s in the details. Niccol must figure out a way to maintain the revenue of mobile and drive-thru orders while still making the in-store experience something to be desired. 

    It’s hard to imagine a CEO better suited for the moment, or with as much goodwill behind him. Niccol brings extensive experience in the food and beverage space, with stints at Chipotle and Taco Bell. Wall Street has high hopes for the 50-year-old executive: Starbucks stock popped 25% in September on the news that he would be taking over the company. But his operational chops, and how they could solve Starbucks’ atmosphere problems, will be tested. 

    Chipotle focuses “relentlessly on fitting cogs into their burrito machine,” Sean Dunlop, an analyst at Morningstar, a financial services company, tells Fortune. On average, the fast-casual Mexican chain can make around 25 entrees in 15 minutes, he says, and some locations can do much more than that. Dunlop also says people are looking at Chipotle’s assembly line and thinking that if Niccol could just do the same thing at Starbucks, “we can solve all the speed of service issues. We can solve the employee dissatisfaction issues.” 

    Niccol said this week that Starbucks will be slimming down its complex menu, and working on getting every order into the hands of a customer within four minutes. He also envisioned separating the in-store experience from the mobile order pickup experience, taming the mobile app with some “common-sense guardrails,” and reining in highly customized drink orders.

    “We kind of incentivize people to customize drinks that probably aren’t the best way to execute the drink,” said Niccol, adding that “we have some clean up to do.” 

    The love is gone

    Starbucks isn’t the same as it used to be, and neither are its customers.  

    “The Starbucks experience has fundamentally changed over the last five or 10 years,” notes Dunlop.

    Mobile purchases now make up more than 30% of all orders, according to the company. Combined with drive-thru orders, they reportedly make up around 70% of sales at American stores run by the company. Roughly 76% of beverages sold are now cold drinks, but the back-of-counter layout is not always equipped for that reality. And the drinks that customers order have also become much more complicated, and sometimes fueled by social-media hijinx. 

    All of those factors have combined to create longer wait times, and heavier workloads for baristas. Slammed with an incessant stream of drink requests, they don’t have as much bandwidth to spend much quality time or chat with walk-in customers. 

    A staffing-first approach

    Michelle Eisen, 41, has been working at Starbucks for 14 years, and currently works at a location in Buffalo, NY. She’s also a member of the Starbucks Workers United union, serves as a bargaining delegate, and is from the first store to win their union. She says the workload has shifted “monumentally” over the past five years in terms of the “pressure that’s put on the hourly workers, baristas and shift supervisors, who are on the floors of these stores every single day.”

    Investing in food quality, making sure there are seating options for walk-in customers, and choosing the right music for the right time of day all play a part in making the stores comfortable—somewhere you actually want to spend time. But those time-stretched baristas are a bigger hindrance to the kind of atmosphere that Starbucks is trying to create than tables and chairs ever could be, says Stephan Meier, an economist and professor at the Columbia Business School. It’s not the art or the furniture that creates a cozy “third space,” he adds—it’s the workers who make the customers feel special.

    “The experience of the customer, in my view, has to come through the experience of the employees,” says Meier. “I think they have to figure out how to operationally free up capacity for the baristas to really focus on the human aspect.” 

    For Starbucks to fix its atmosphere and operations problems, it may have to hire more workers. “I think you could argue that maybe labor productivity is too high and they need to add more labor in order to bring back some of the experiential differentiation that made Starbucks what it is today,” says Zackfia. 

    Eisen agrees that better scheduling and more workers is key, so that three baristas aren’t bearing the load more appropriate for six people. “It’s additional wages, it’s additional labor costs, but it pays out in the end,” she says. “It creates a positive experience for the barista, and hopefully helps with employee retention. And it creates a much more positive experience for the customer, because they can see that their orders are being taken seriously.”

    Over the past few years, 500 Starbucks stores have voted to unionize, representing more than 11,000 baristas. The response from previous CEO Howard Schultz was not always enthusiastic. Niccol has taken a more conciliatory tone with the union. In response to an open letter from the union, Niccol wrote in September that he was “committed to continue to bargain in good faith.” 

    Starbucks CFO Rachel Ruggeri said in the earnings call this week that the company had increased hours per partner, which was helping with turnover, but that it had more work to do to help with staffing issues. Niccol addressed also the barista experience, and mentioned staffing first in a list of changes the company is making. 

    “Our efforts to get partners the hours and schedules they want are working,” he said. “Now we need to make sure we have the right number of partners on the floor, particularly during our morning peak and shoulder hours.” He added the company was cultivating leaders from within its own ranks, and planning a conference for store managers in 2025. 

    Zarian Pouncy, 30, has been a Starbucks employee for 11 years. He is also a union member and a bargaining delegate for Starbucks Workers United. He’d like to see a level of comfort come back to the stores themselves. The location where he works in Las Vegas got rid of its chairs a few years ago, and now has wooden stools instead. It has also removed electrical outlets. But he’s optimistic about the future. 

    “I am hopeful,” he says. “Once we can kind of slow down, simplify things, go back to what coffee shop culture was, we can get back to a place that baristas might be happy.”

    [ad_2]

    Azure Gilman

    Source link

  • Black Friday Will Be Confusing (Again). Here Are Our Tips

    Black Friday Will Be Confusing (Again). Here Are Our Tips

    [ad_1]

    Black Friday used to fall on just one day of the year. Shoppers would camp outside of stores, eagerly awaiting the chance to bust down some doors and save a ton of cash. Over time, the sales event has grown. Now, the entire month of November is a hydra where the heads are “slashed prices” and the sword-wielding hero is an overwhelmed customer.

    Stores are offering more deals than ever online, meaning you don’t need to leave the couch to participate. But it can all get confusing. How can you tell if a deal is worth your time and money? When do sales start and end? Do you need that gadget? We’re here to help.

    When Is Black Friday?

    In 2024, Black Friday falls on November 29. It’s followed by Cyber Monday on December 2, 2024. Most of the official sales start late on Thanksgiving, though some of the best deals start on Friday, sometime in the early hours. (A handful of stores provide exact start times.)

    I have been Black Friday shopping for over two decades. My advice, if you’re on the hunt for killer deals, is to stay up late the day before Thanksgiving to check for online sales starting around midnight Eastern time on Wednesday, November 27. WIRED will also cover major sales later in the day on Thanksgiving. Early Black Friday deals will kick off during the first couple of weeks of November, and retailers like Best Buy usually have a price-matching guarantee in place if an item gets cheaper on Black Friday.

    Can You Get Black Friday Deals Online?

    You can—and should. We exclusively cover online deals here at WIRED because the majority of Black Friday deals are available on the web. The best deals don’t stick around for too long, so it’s a good idea to pay attention to your favorite store’s sale pages (and our coverage).

    Make a list of what you want to buy ahead of time—this can help you keep a clear head when it’s time to start shopping. You shouldn’t buy things just to buy them. Everyone’s on a tighter budget these days; sales will happen again. Take a deep breath and don’t get sucked into the frenzy.

    Which Retailers Will Have Black Friday Deals?

    Nearly all of them. There are obvious stores, like Amazon, Target, Walmart, and Best Buy, but chances are every retailer and brand will have some sort of sale, spanning deals on clothing, shoes, books, electric scooters, tech, health and beauty items, or fitness specialty goods to name just a few categories. There might even be promotions going on at your favorite coffee shop or restaurant. When in doubt, visit a retailer’s website. Usually, Black Friday sales are highlighted proudly on the homepage.

    Here are a few Black Friday sales pages from major retailers:

    Is Black Friday Worth It?

    TL;DR: usually. Long answer: Most of the time, Black Friday deals are the best we see all year, and they set the precedent for what dictates a good price in the months that follow.

    However, some Black Friday deals aren’t all that great or are repetitive from year to year. For instance, you’ll predictably see low prices on some smart-home tech, like the Amazon Echo Dot or Google Nest Mini. In previous years, those speakers have sold for around $20 or so, every single November. This year, they’ll probably dip to the same price. Even if a price is technically a historic low, consider whether you truly need another cheap little speaker before you place your order—especially considering that these deals tend to pop up repeatedly throughout the year.

    Some discounts aren’t jaw-dropping because the products tend to go on sale every few months, and the fact that stores repeat deals so frequently says a lot about the nature of discounts these days. Still, the deals are worth it if you are in the market for a specific item and want to save some cash. Just keep in mind that price research is important, and if you miss out on a deal, don’t fret; there’s a strong chance it will come around again at some point in the future.

    How Much Money Can I Save on Black Friday?

    That depends on what you’re shopping for. There are so many deals up for grabs in so many categories that it’s impossible to list them all here.

    For example, TVs are usually a great purchase to make around Black Friday, if you can find the right model. They are at their cheapest this time of year and through the holidays. In the same vein, you’ll be able to save on clothes, toys, and home goods, but those deals may not be as enticing when you look at specific dollar amounts. They’re certainly less expensive than usual, though.

    [ad_2]

    Louryn Strampe

    Source link

  • buybuy BABY Leans Into Digital-Facing Offerings & Operations in Response to Consumer Demand

    buybuy BABY Leans Into Digital-Facing Offerings & Operations in Response to Consumer Demand

    [ad_1]

    The Specialty Baby Products Retailer Will Focus Its Efforts on Its Digital Offerings While Strategizing What Its Physical Footprint Will Look Like in the Future 


    PISCATAWAY, N.J., November 1, 2024 (Newswire.com)
    –
    buybuy BABY, America’s leading specialty baby brand and registry, today announced that the company is presently shifting away from the brick-and-mortar model for the near term and is redefining the business as a digital-first brand.  

    In response to consumer feedback and evolving shopping trends, buybuy BABY will place a stronger emphasis on enhancing its e-commerce and wholesale capabilities in the short term. This strategic shift aims to create a seamless and user-friendly shopping experience for customers and will allow for continued improvement to its digital platform and experience on its website, registry and mobile app. The retail landscape is ever-changing and buybuy BABY will continue to adapt to consumer habits, whether that be online or in-store. 

    buybuy BABY is excited about the future and ultimately reimaging stores as the cornerstone of the baby registry and omnichannel shopping experience. “Stores are essential to our vision of a dynamic store footprint consisting of strategically placed smaller stores in key markets. Our passion for the parents and communities we serve is unmatched, and we desire to deliver a curated in-store assortment to guide parents’ decision-making in their journey to parenthood,” said Glen Cary, buybuy BABY Chief Stores Officer.  

    Customers can continue to shop for all their favorite brands and products at buybuy BABY.com and set up new and manage existing registries. The website offers the convenience of online shopping with a user-friendly interface and secure payment options.  

    buybuy BABY will be expanding its distribution network to support faster and more efficient delivery. These enhancements will enable the company to meet increasing consumer demand and ensure that its products are available to customers whenever and wherever they need them. 

    Cary shared, “We’re proud to support parents from newborns onward. Though stores are closing, our online shop remains, offering exceptional service and quality products with dedication.”

    With this reset, buybuy BABY will be positioned for long-term growth and success. This new chapter and renewed focus will create more value for customers, partners, and team members. All buybuy BABY stores will be closing by the end of this year and will be providing significant discounts to customers. You can find a full list of stores here: https://buybuybaby.com/pages/find-a-store. 

    Customers can continue to manage and create their registry online here: buybuy BABY registry.

    For more information, visit https://buybuybaby.com/pages/faq.

    About buybuy BABY 

    buybuy BABY is America’s leading specialty baby brand, with a long history of providing families with trusted information and products they need to confidently navigate the journey of parenthood — across every milestone, big and small, since 1996. The brand provides a wide assortment of baby and toddler essentials, strollers, car seats, nursing & feeding products, clothing & accessories, maternity wellness products, and nursery furniture. 

    Source: buybuy BABY

    [ad_2]

    Source link

  • U.S. Polo Assn. Named the Emerging Market Retailer of the Year in the 2024 Global RLI Awards Held in London, U.K.

    [ad_1]


    WEST PALM BEACH, Fla. & LONDON, October 31, 2024 (Newswire.com)
    –
    U.S. Polo Assn., the official brand of the United States Polo Association (USPA), is pleased to announce the brand has been awarded the Emerging Market Retailer of the Year at the 2024 Global RLI Awards. Held in London, the prestigious awards recognize the innovation and dynamism that retail and leisure industry brands utilize to continue to adapt and evolve in fast-changing market environments around the globe. 

    U.S. Polo Assn. was celebrated during a luxurious gala banquet event at The Londoner Hotel on October 24, 2024, in London, England, attended by the sports brand’s U.K. strategic partner, Brand Machine Group. The globally attended event hosted more than 200 guests, including many of the world’s top companies and RLI Global winners. Previous Global RLI Awards presented by Retail & Leisure International Magazine have been held in iconic cities around the world, including Dubai, Los Angeles, and Riyadh. 

    The brand’s winning entry was for ‘Emerging Market Retailer: U.S. Polo Assn. Becomes a Power Brand in India, Targets Billion-Dollar Milestone,’ while the brand was also named a finalist for the ‘International Retailer of the Year: U.S. Polo Assn. Delivers Record $2.4 Billion in Retail Sales Across 190 Countries’ category as well. The sport-inspired brand was selected from an expert global panel of 11 judges, alongside other winners in the 13 awards categories. U.S. Polo Assn. was among notable brands, such as Real Madrid, Harrods Holidays and Occasions Department, DeFacto, AWWG, Daiso Industries Co. Ltd., and Keystone Group to name a few. 

    “U.S. Polo Assn. has distinguished itself in emerging markets by staying true to its heritage, while embracing a modern, accessible, and aspirational identity. This award celebrates the brand’s exceptional growth, ability to connect with diverse audiences, and commitment to high-quality, stylish apparel that resonates across cultures and geographies,” said Jayne Rafter, Owner and Publisher of Retail & Leisure International. “Their success is a testament to the brand’s strategic vision, adaptability, and dedication to delivering authentic experiences to consumers around the world.” 

    The multi-billion-dollar U.S. Polo Assn. brand’s award highlights its authentic connection to the sport of polo through achievements such as delivering a record $2.4 billion in global retail sales, spanning 190 countries in over 1,100 retail stores and thousands of wholesale locations and e-commerce. In fact, U.S. Polo Assn. is projected to become a billion-dollar business in India alone, recently being designated the top-selling casual menswear brand in the world’s most populated country. Currently, the U.S. Polo Assn. brand’s retail footprint in India is impressive, at more than 400 stores across more than 200 cities, with plans to add 100 more stores in the near future.  

    U.S. Polo Assn.’s growth in India can be attributed to its brick-and-mortar and e-commerce growth strategies, as well as overall brand marketing through storytelling. The global, sports brand has launched an exclusive brand-specific website, USPoloAssn.in, to further enhance the digital offerings for customers and provide easier access to its product offerings across India.  

    Global brand ambassadors are also key to the market, which include His Highness Maharaja Sawai Padmanabh Singh (Pacho) of Jaipur India, fashion icon and Bollywood star Palak Tiwari, and for the brand’s “Legends Forever Play Together” campaign, modeling moguls Arjun Rampal and Milind Soman, alongside tennis icons Leander Paes and Mahesh Bhuphati. 

    The sports brand generated record growth with some 50 brand sites in 20 languages and over 9 million social media followers in 2024. Moreover, U.S. Polo Assn.’s landmark multi-year global deal with ESPN and Star Sports in India now brings exposure to several of the premier polo championships in the world to a massive global audience. 

    “We are proud of U.S. Polo Assn.’s recognition by Retail & Leisure International as Emerging Market Retailer of the Year, a recognition that underscores the U.S. Polo Assn.’s expansion in the global retail space, along with our authentic connection to the sport of polo and its heritage,” says J. Michael Prince, President and CEO of USPA Global, the company that oversees the multi-billion-dollar U.S. Polo Assn. brand. “Winning this category for our massive growth in India and being a finalist in the International Retailer of the Year category reflects our Global Team’s approach to connecting with consumers and our overall market impact.

    “Congratulations to all other RLI participants and winners on their remarkable performances this year,” Prince added. 

    About U.S. Polo Assn. and USPA Global  

    U.S. Polo Assn. is the official brand of the United States Polo Association (USPA), the governing body for the sport of polo in the United States and one of the country’s oldest sports governing bodies, founded in 1890. With a multi-billion-dollar global footprint and worldwide distribution through more than 1,100 U.S. Polo Assn. retail stores as well as thousands of additional points of distribution, U.S. Polo Assn. offers apparel, accessories, and footwear for men, women, and children in more than 190 countries worldwide. A historic, multi-year deal with ESPN to broadcast several of the premier polo championships in the world, sponsored by U.S. Polo Assn., has made the thrilling sport accessible to millions of sports fans globally for the very first time. 

    U.S. Polo Assn. has consistently been named one of the top global sports licensors in the world alongside the NFL, NBA, and MLB, according to License Global. In addition, the sport-inspired brand is being recognized internationally with awards for global and digital growth. Due to its tremendous success as a global brand, U.S. Polo Assn. has been featured in Forbes, Fortune, Modern Retail, and GQ as well as on Yahoo Finance and Bloomberg, among many other noteworthy media sources around the world. 

    For more information, visit uspoloassnglobal.com and uspashop.com, and follow @uspoloassn.  

    USPA Global is a subsidiary of the USPA and manages the global, multi-billion-dollar U.S. Polo Assn. brand. Through its subsidiary, Global Polo Entertainment (GPE), USPA Global also manages Global Polo TV, which provides sports and lifestyle content. For more sports content, visit globalpolo.com. 

    Source: USPA Global Licensing Inc.

    [ad_2]

    Source link

  • An ultra-rare 1975 dime stashed away for decades just surfaced—and sold for a whopping $500,000

    An ultra-rare 1975 dime stashed away for decades just surfaced—and sold for a whopping $500,000

    [ad_1]

    An extraordinarily rare dime whose whereabouts had remained a mystery since the late 1970s has sold for just over $500,000.

    The coin, which was struck by the U.S. Mint in San Francisco in 1975, depicts President Franklin D. Roosevelt and is one of just two known to exist without its distinctive “S” mint mark.

    Three sisters from Ohio inherited the dime after the death of their brother, who had kept it in a bank vault for more than 40 years.

    The coin sold for $506,250 in an online auction that concluded Sunday, according to Ian Russell, president of GreatCollections, an auction house based in Irvine, California.

    This undated image provided by GreatCollections shows a 1975 proof set dime mistakenly made without the San Francisco Mint’s letter S mintmark.

    GreatCollections via AP

    The only other known example of the “1975 ‘no S’ proof dime” sold at a 2019 auction for $456,000 and then again months later to a private collector.

    The mint in San Francisco made more than 2.8 million special uncirculated “proof” sets in 1975 that featured six coins and were sold for $7. Collectors a few years later discovered that two dimes from the set were missing the mint mark.

    Russell said the sisters from Ohio, who wanted to remain anonymous, told him that they inherited one of those two dimes but that their brother and mother bought the first error coin discovered in 1978 for $18,200, which would amount to roughly $90,000 today. Their parents, who operated a dairy farm, saw the coin as a financial safety net.

    [ad_2]

    The Associated Press

    Source link

  • “Everything companies”: How Amazon’s playbook is reshaping competition in Canada – MoneySense

    “Everything companies”: How Amazon’s playbook is reshaping competition in Canada – MoneySense

    [ad_1]

    This way of thinking about a company’s value isn’t necessarily new. Ray Kroc, the founder of McDonald’s, is said to have once asked a group of MBA students to tell him what business they thought he was in. They volunteered that he was in the hamburger business. He countered that, “My business is real estate.” Similarly, Baker describes HBC primarily as “an investment company at the crossroads of real estate, operating companies and digital companies.”

    Canadian Tire: Much more than a retailer

    Similarly, Canadian Tire is typically thought of as a retailer, but its ecosystem is more complex than most people may appreciate, as their suite of assets extends beyond their most recognisable store. Over time, the firm’s acquisitions of Mark’s (formerly Mark’s Work Wearhouse), Party City, the Helly Hansen apparel brand, and SportChek have allowed the firm to combine assets in retail, automotive and gasoline, financial services and specialty brands, enhancing the firm’s retail footprint and strengthening its market position across multiple sectors.

    The company is also known for its paper Canadian Tire money, first introduced in 1958, an early cash rewards loyalty program. Using its own pseudo-currency made the store feel like a board game come to life and was extremely popular. Today, Canadian Tire money is digital, and the Canadian Tire Bank has been licensed under the Banking Act since 2003. Canadian Tire Financial Services is a subsidiary of the company and now offers credit cards, insurance products, and other financial services. So, is Canadian Tire a bank, an insurer, or a retailer? It’s all of the above. And this plays a significant role in driving loyalty, measured by the frequency and amount that the consumer spends through their Triangle Rewards program, which replaced Canadian Tire Money in 2018.

    Investors can even invest in Canadian Tire’s collection of real estate holdings through a REIT (real estate investment trust) through the Toronto Stock Exchange. The REIT owns the buildings and land that Canadian Tire (and other of its retail brands) lease from them. The contracts stipulate that the REIT is entitled to annual rent increases.

    The collection of these assets and subsidiaries creates a mutually reinforcing flywheel for the business. It also complicates the definition of Canadian Tire’s relevant marketplace. How should an analyst account for the gas stations and convenience stores owned by Canadian Tire Petroleum, where people collect points and other incentives through Triangle Rewards? Or PartSource, the specialty automotive parts retailer owned by Canadian Tire? The same question is raised with Mark’s (clothing and footwear), SportChek (sports apparel), Helly Hansen (outdoor apparel) or Party City (party supplies). The more diverse holdings a company has, the more difficult it can be to value the company.

    Overly simplistic calls for more competition miss this critical point and simplify an increasingly complex set of economic questions. More and more companies are moving from competing within industries to competing to accumulate vast ecosystems of assets. Trying to put companies into neatly defined buckets or industries misses the point. Commerce is a complex web of relationships among many different stakeholders. Just when you think you’ve wrapped your mind around it, a company can shape-shift and confound a rigid sectoral definition.

    Companies increasingly want to insert themselves into every aspect of our daily lives, enveloping us in their ecosystem. As we go about our daily lives, everything we do becomes a cash-out opportunity, and we transfer a bit of our paycheque to a monopolist or oligopolist. Industries, be gone. We are the asset.

    Excerpted from The Big Fix: How Companies Capture Markets and Harm Canadians by Denise Hearn and Vass Bednar. Copyright 2024. Reprinted by permission of Sutherland House Books.

    [ad_2]

    Denise Hearn

    Source link

  • Former CEO is finally facing the music for alleged sex trafficking and prostitution ring during his time at Abercrombie

    Former CEO is finally facing the music for alleged sex trafficking and prostitution ring during his time at Abercrombie

    [ad_1]

    Millennials: You’ll remember walking into Abercrombie & Fitch in the late ‘90s and early 2000s. Loud, thumping music, perfume so strong you could barely think straight, and posters of half-naked men were all part of the experience—and a desire to feel “cool.”

    David Turner/WWD/Penske Media—Getty Images

    Mike Jeffries, Abercrombie’s former CEO, was behind that vision. And on Tuesday, he and his partner Matthew Smith were arrested in Florida in connection with sex trafficking-related charges, according to a federal indictment. The duo, along with an employee of theirs, James Jacobson, allegedly ran an international sex trafficking and prostitution ring from 2008 to 2015 that allegedly involved paying for secret sex with potentially dozens of men, including 15 unnamed victims.

    The official indictment has been a long time coming. Last year, BBC released a documentary about Jeffries’ shady practices. The BBC investigation revealed that Jeffries and Smith allegedly used a middleman to find men to attend and participate in the sex events. Jeffries and Smith would allegedly engage in sexual activity with about four men at these events or “direct” them to have sex with one another, several attendees from the events told BBC. Jeffries’ personal staff dressed in Abercrombie uniforms and supervised the activity, according to the allegations, and staff members gave attendees envelopes filled with thousands of dollars in cash at the end of the events. 

    Large Abercrombie & Fitch sign featuring a man's unclothed torso

    LAURENT FIEVET/AFP/GettyImages

    The middleman “made it clear that unless I let him perform oral sex on me, I would not be meeting with Abercrombie & Fitch or Mike Jeffries,” David Bradberry, who was introduced to Jacobson in 2010 when he was 23 years old, told BBC. An agent posing as a model recruiter introduced Bradberry to Jacobson, who described himself as the gatekeeper to the “owners” of Abercrombie and Fitch, according to the BBC investigation.

    The federal indictment included related allegations and more.

    Jeffries’ shady past with Abercrombie

    According to a 2006 interview with Salon, Jeffries wanted to make the 130-year-old retailer into the hearthrob teen clothing brand of the time, which he successfully did—but not without offending swaths of people. His interview pretty much sums up his marketing approach as only making it about “cool” people. 

    “Those companies that are in trouble are trying to target everybody: young, old, fat, skinny. But then you become totally vanilla,” Jeffries told Salon. “You don’t alienate anybody, but you don’t excite anybody, either.”

    Brooks Canaday/MediaNews Group/Boston Herald via Getty Images

    By 2006, Abercrombie & Fitch’s earnings had risen for 52 straight quarters, with annual profits of more than $2 billion. Plus, the company had opened hundreds of new brick-and-mortar stores and launched three new labels, including Hollister. 

    “But the marketing approach that made A&F into a financial success also made it an HR and PR nightmare,” according to NPR. Abercrombie’s approach to marketing ignited a response from women through mock ads and a boycott call from the American Decency Association. Black, Latino, and Asian American employees in 2004 filed a class-action lawsuit against the company alleging minority applicants were discouraged from applying.

    In the early 2010s, Abercrombie started going south financially as a result of age discrimination and hiring practice lawsuits, and Jeffries’ 2006 interview with Salon started being circulated again and went viral. In 2013, Jeffries was named as the worst CEO of the year by TheStreet’s Herb Greenberg. To boot, CNBC’s Jim Cramer named him to his “Wall of Shame.”

    “Since its early trading in 1996, Abercrombie has barely beaten the S&P 500. It has dramatically trailed the index over the past one-, three- and five-year marks,” Greenberg wrote in 2013. “The past year, in particular, has been an abomination, leading activist firm Engaged Capital to demand his ouster.”

    By 2014, same-store sales slumped for 11 straight quarters and two of its subsidiary brands, Ruehl No.925 and Gilly Hicks, shut down just a few years after launch. Teens were just also over Abercrombie’s style at that point, and the shopping mall era was coming to a close. And in 2016, Abercrombie was deemed the most-hated retailer by the American Customer Satisfaction Index for its hypersexualized marketing and controversies. 

    Abercrombie’s second wind

    But as Abercrombie has distanced itself from Jeffries, the brand is making a major comeback after posting its best first-quarter earnings in company history this year. Abercrombie reported $1 billion in net sales, a 22% increase from 2023. Last year, its annual revenues were $5 billion.

    Shoppers inside Abercrombie & Fitch store in 2023

    YUKI IWAMURA/AFP—Getty Images

    This was an epic comeback for the brand. CEO Fran Horowitz took the helm in 2017, revamping stores and inventories as well as expanding sizes and introducing clothing for a variety of lifestyles. 

    “We moved from a place of fitting in to creating a place of belonging,” Horowitz said in a 2022 speech at the Fordham University Gabelli School of Business’ fifth annual American Innovation Conference.

    [ad_2]

    Sydney Lake

    Source link