A Conversation with Karen Katz, CEO, Neiman Marcus Please note: We interviewed Karen as part of the Retail@250 series, several months before Neiman Marcus announced plans to look for an investor. Some industry insiders have cast doubt on the future of retail’s luxury segment, saying consumers are becoming less brand loyal and less obsessed with stuff, and suggesting that brands are losing cachet as luxury items become ubiquitous. Yet Karen Katz, CEO of Neiman Marcus, remains deeply confident, as she pursues a strategy attuned to the …
Building a Disruptive Brand in the Digital Age
A Conversation with Jeremy Liew, partner, Lightspeed Venture Partners Every retailer has heard that there are a million startups coming for its business and its customers. Knowing which ones will succeed, and which ones will sputter, is another matter—and can help companies of all ages and sizes see what it takes to build a winning brand in the digital age. Jeremy Liew, a partner at Lightspeed Venture Partners, knows a thing or two about the art and science of building a successful startup. With the firm since 2006, Jeremy invests primarily …
The Future of Department Stores
A Conversation with Jeff Gennette, CEO of Macy’s Jeff Gennette was named CEO of Macy’s Inc. in 2017. He began his retail career in 1983, as an executive trainee at Macy’s West. During our recent conversation with Jeff, intriguing insights surfaced as to the future of department stores. RR: Do you believe in the future of the retail department store, maybe without the “departments?” JG: Absolutely. But there will be a lot of changes strategically and structurally. We’re in a transitional time. Department stores will be re-imagined, …
What Retailers Can Learn From a Beauty Company
A Conversation with William P. Lauder, Executive Chair, The Estée Lauder Companies Vats of indelible ink have been used to question and revise the future of retail, including our interviews with key industry figures. William P. Lauder, executive chairman of The Estée Lauder Companies, offers his own unique perspective. His ideas about what’s working for the cosmetics industry are widely applicable to other retail sectors, including embattled brick-and-mortar stores. William’s vision at first sounds familiar: malls and mid-priced retailers …
Rallying ‘Round the Consumer
A Conversation with David Campisi, CEO & President, Big Lots Big Lots is a compelling turnaround story in the off-price retail segment. Same-store sales have climbed for ten consecutive quarters running—a solid rebound from two years of quarterly of declines. Net income has also begun to rebound driven by consistency in sales, strengthening margins and inventory turnover, and leveraging the cost structure. A key reason for this renewed success is David Campisi, a savvy retail veteran who took charge of Big Lots in 2013. David previously …
Ongoing Transformation
A Conversation with Eric Wiseman, CEO of VF Corporation “Businesses that thrive over time are generally great at changing,” says Eric Wiseman, CEO of VF Corporation, a global leader in branded lifestyle apparel, footwear, and accessories with more than 30 brands, 64,000 associates, and $12.4 billion in revenue. “Their experience is changing who they are as conditions change and provides a good foundation to help them survive the next transformation.” Eric has held leadership roles for over 20 years at VF, one of the industry’s most …
Weathering Economic Climate Change: Retailing in the Age of Uncertainty
Best Practices From Kurt Salmon The retailing landscape looks much as it did in the throes of the Great Recession. Unemployment remains persistently high, consumers lack confidence in the economy, and talk of a global economic crisis is everywhere. But move in closer and the picture is more complex and detailed than it was three years ago. Despite the barrage of bad news and feeble macroeconomic growth, consumers have returned to old habits — spending at unprecedented levels, in fact. Consumer confidence, once closely linked to spending, …
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