Morning Brew - ☕ Retail's Big Show business

Previewing the National Retail Federation’s annual conference.
January 10, 2023

Retail Brew

Wunderkind

Good afternoon! It’s a big week for retail stocks, with Bed Bath and Beyond, Aritzia, and Denny’s all reporting on their Q4 results. If, like us, you haven’t been to a Denny’s since fourth grade and had, in fact, forgotten all about America’s favorite breakfast chain, you might be shocked to learn that they opened 30 new restaurants last year. Might we suggest the Grand Slam breakfast?

In today’s edition:

—Katishi Maake, Erin Cabrey

EVENTS

The big show

Shopping cart full of holiday items. Francis Scialabba

The moment you (might have) been waiting for is here. To ring in the new year, Retail Brew will be covering the National Retail Federation’s annual conference that kicks off the year.

Big picture: The retail world is off to a fast (chaotic?) start this year. Bed Bath & Beyond has signaled it may file for bankruptcy, Amazon will lay off more workers than previously stated—many in the retail division—and chief executives at Stitch Fix and Victoria’s Secret are out the door. The backdrop to all of this includes the usual suspects: inflation, fears of a full-on recession, and a deluge of unwanted, excess inventory for some brands.

If you’ll be attending next week, feel free to say hi, but we wanted to highlight a few of the keynote addresses and sessions that caught our eye.

Jan. 15

Macy’s CEO and chairman Jeff Gennette will speak at one of the first keynote sessions on day two to discuss new investments the company has made, rebuilding the company’s financial health, and Macy’s new commitment to style and fashion.

Later in the day, our very own Jeena Sharma will moderate a discussion between executives from Chobani, Hollister, and Nordstrom on purpose-driven retail. As we’ve previously covered, 82% of consumers prefer to shop brands that reflect their values.

Jan. 16

Like almost every retailer, Lowe’s has had to accelerate its transition into a fully-fledged omnichannel operation. CEO and chairman Marvin Ellison has overseen much of this transformation and will go into more detail on the future of Lowe’s vision.

According to NRF’s 2022 National Retail Security Survey, retailers reported an average 26.5% increase in organized retail crime (ORC). A Monday featured session will bring together a representative from DHS, the Illinois attorney general’s office, and a loss prevention expert to discuss how to tackle ORC.

Read the whole story here.—KM

        

TOGETHER WITH WUNDERKIND

Trendsetting into the new year

Wunderkind

It’s out with the old and in with the new, folks. But there’s just one problem: What’s in and what’s out, exactly? Getting a grip on the current landscape of advertising trends is tough stuff, even for the so-called experts.

But Wunderkind is here to help. Their Marketing Trends That Will Shape 2023 prediction report knows exactly what’s brewing among the Madison Avenue trendsetters. No need to fight for a seat at the cool kids’ table—Wunderkind has the scoop.

Curious about what’s in the report? It covers:

  • the ins and outs of era-defying brands
  • how your business can navigate constant change
  • future-proofing your marketing strategies

Don’t pull your hair out trying to identify new trends. Let Wunderkind show you what’s up.

LABOR

Job mentality

A customer shops at an Under Armour store Under Armour

While many start to wind down their work at the end of the year, sending out a slew of “Let’s circle back in the New Year!” emails, some retail executives used the final weeks of 2022 to make major career moves. We rounded up the most notable comings and goings in December:

  • Under Armour named Stephanie Linnartz, president of Marriott International and member of The Home Depot’s board of directors, as incoming CEO starting February 27. Interim CEO Colin Browne will resume his role as COO.
  • Former LVMH executive Andrea Guerra will serve as Prada Group’s next CEO. He takes over for Miuccia Prada, who will remain creative director for both Prada and Miu Miu and a board member, and Patrizio Bertelli, who will become chairman. The Prada brand also tapped Gianfranco D’Attis as CEO.
  • CPG vet Carla Vernón joined The Honest Company as its new CEO. She most recently served as VP of consumables at Amazon, following an over two-decade run at General Mills, that included leading its natural and organic division. Former CEO Nick Vlahos will move to a role on its board of directors following a six-year tenure with The Honest Company.
  • Steven Rendle retired from his role as chairman, president, and CEO at North Face-owner VF Corp. Former Clorox CEO Benno Dorer will serve as CEO in the interim.
  • Matteo Franceschini is the new CEO of the Viktor & Rolf brand, taking over for Andrea Collisei.
  • Urban Outfitters Group president Francis Pierrel stepped down after joining the company in February to oversee its North America division.
  • PVH appointed Eva Serrano as Calvin Klein global brand president, effective in March. Serrano is currently president of Zara-owner Inditex’s Greater China division.

Keep reading here.—EC

        

FROM THE CREW

The Crew

It’s time to start manifesting your financial freedom—and Katie Gatti (aka Money with Katie) is here to help. Her weekly newsletter takes a spicy approach to spending habits, investing best practices, credit card hacks, and more. Get simple, practical ways to live a rich life delivered straight to your inbox for free.

SWAPPING SKUS

Today’s top retail reads.

Food for thought: Copenhagen fine-dining icon Noma is closing its doors, and making a transition to a “food laboratory,” creating dishes for its e-commerce operation. “Noma and many other elite restaurants are facing scrutiny of their treatment of the workers, many of them paid poorly or not at all, who produce and serve these exquisite dishes. The style of fine dining that Noma helped create and promote around the globe—wildly innovative, labor-intensive and vastly expensive—may be undergoing a sustainability crisis.” (the New York Times)

Yellow brick road: A look at Twitter’s golden checkmark system for brands, which has been confusing and chaotic…sort of like Twitter itself. (Glossy)

Spoon out: In England, a long-anticipated ban on single-use plastic plates and cutlery is coming down the pipeline for restaurants and cafes, following similar bans in Scotland and Wales. (NPR)

Unlock SMSuccess: Get comprehensive guidance on building your effective SMS strategy with supercharged acquisition, loyalty, and revenue. Join Iterable and Telnyx for this unmissable Jan. 25 webinar. Don’t get left on read—register here.*

*This is sponsored advertising content.

WHAT ELSE IS BREWING

  • Pepsi and Coke are reportedly the targets of a Federal Trade Commission probe into possible price discrimination.
  • Instagram will remove the “shop” tab from the social media platform’s navigation in February. Don’t worry though; users will still be able to shop in-app via ads, stories, and reels.
  • Rite Aid CEO Heyward Donigan vacated both her C-suite positions and board membership role. Board member Elizabeth Burr is serving as interim CEO.
  • Lululemon shares dropped after the brand gave a less-than-optimistic preview of its quarter.
  • Abercrombie & Fitch, on the other hand, raised its sales forecast, and saw a corresponding jump in share price.
  • Everlane said it is laying off 17% of corporate staff in addition to less than 3% of retail employees.
  • Danone is facing a lawsuit filed by environmental groups who say the dairy giant has “failed to reduce its plastic footprint sufficiently,” in accordance with French law.

TIME MACHINE

What happened in the world of retail this week in…1977 and beyond? Retail Brew takes you way, way, way back.

  • On January 8, 2002, Wendy’s founder Dave Thomas died at age 69. Thomas opened his first Wendy’s restaurant in Ohio in 1969, naming it after his daughter.
  • On January 9, 2007, Steve Jobs introduced the first generation iPhone at the MacWorld Expo in San Francisco. Yes, he was wearing a black turtleneck on stage.
  • On January 10, 1977, legendary inventor of the chocolate chip cookie, Ruth Wakefield, died. Wakefield, who named her recipe after the Toll House Inn she ran with her husband, sold the recipe to Nestlé for use on its packages.
  • On January 11, 1878, milk was delivered in glass bottles for the first time, by New Yorker Alexander Campbell. (January 11 is now National Milk Day!)

SHARE THE BREW

Share Retail Brew with your coworkers, acquire free Brew swag, and then make new friends as a result of your fresh Brew swag.

We’re saying we’ll give you free stuff and more friends if you share a link. One link.

Your referral count: 2

Click to Share

Or copy & paste your referral link to others:
morningbrew.com/retail/r/?kid=303a04a9

         

Written by Katishi Maake and Erin Cabrey

Was this email forwarded to you? Sign up here.

Take The Brew to work

Get smarter in just 5 minutes

Business education without the BS

Interested in podcasts?

  • Check out ours here
ADVERTISE // CAREERS // SHOP 10% OFF // FAQ

Update your email preferences or unsubscribe here.
View our privacy policy here.

Copyright © 2023 Morning Brew. All rights reserved.
22 W 19th St, 4th Floor, New York, NY 10011

Key phrases

Older messages

☕ Kicking and screaming

Tuesday, January 10, 2023

Talking Super Bowl with FanDuel's EVP of marketing. January 10, 2023 Marketing Brew TOGETHER WITH Attest It's Tuesday, and next month Mars is introducing limited-edition bags of “all-female”

☕ Royal rumbles

Tuesday, January 10, 2023

Finally, some good news about the climate... January 10, 2023 View Online | Sign Up | Shop 10% Off Morning Brew TOGETHER WITH LaneAxis Good morning. What can you expect from Super Bowl commercials this

☕ Buzz like a tea

Monday, January 9, 2023

Competition is brewing in the non-alcoholic space. January 09, 2023 Retail Brew TOGETHER WITH Printful Enterprise Hello, and welcome to a new week. We found out that Taylor Swift's cat, Olivia

☕ Ready, set, post

Monday, January 9, 2023

Talking NIL deals with American Eagle's CMO. January 09, 2023 Marketing Brew TOGETHER WITH Salesforce It's Monday. CES wrapped up over the weekend, and we hope everyone made it home safely.

☕️ The circle of chips

Monday, January 9, 2023

Plus, VC funding in 2022. January 09, 2023 Emerging Tech Brew TOGETHER WITH LiquidPiston Happy iPhone day. On this day in 2007, Apple announced the iPhone to the world. Let's play a quick game of

You Might Also Like

Trump's immigration plan is a dark flashback to history

Monday, May 6, 2024

+ worried about microplastics? enter: nanoplastics ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌

🍿 Celebrating the Prequels

Monday, May 6, 2024

25 years after 'The Phantom Menace,' it's time to admit the obvious: the Star Wars prequels aren't just good, they're great. ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌

☕ Tentatively online

Monday, May 6, 2024

ACP subsidies slashed ahead of funding cliff. May 06, 2024 Tech Brew PRESENTED BY Akamai It's Monday. Amid congressional deadlock, 23 million American households just saw their subsidies for

Lawmakers Just Stole Air Travelers’ Right To Midflight Water

Monday, May 6, 2024

Politicians are helping airline lobbyists block passengers' right to drinking water and human-sized airplane seats. Read below to learn how lawmakers are trying to block your right to midflight

How the Met Gala became the fashion Oscars

Monday, May 6, 2024

Plus: International assassinations, sexy movies, and more. May 6, 2024 View in browser Welcome back! Tonight, celebrities treat us to the most eye-catching fashion they can think of. In other words,

Open Thread 328

Monday, May 6, 2024

... ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏

Congressman praises racist heckling. Will his corporate backers stand by him?

Monday, May 6, 2024

On Thursday, Jaylin Smith, a graduate student at the University of Mississippi, participated in a small, non-violent protest calling for a ceasefire in Gaza. Smith and the other protesters were greeted

Numlock News: May 6, 2024 • Elk, The Phantom Menace, What A Pro Wants

Monday, May 6, 2024

By Walt Hickey Welcome back! Brown Gold Every winter, elk, deer and moose shed their antlers, and foragers eager for the discarded but pronounced objects engage in a mad dash at the start of the first

Hamas Shells Aid Crossing, a Dramatic Derby Finish, and Dogs Conduct an Orchestra

Monday, May 6, 2024

Hamas killed three Israeli soldiers Sunday in an attack on a crossing into Gaza used by trucks delivering humanitarian aid. The crossing is now shut down. ͏ ‌ ͏ ‌ ͏ ‌ ͏ ‌ ͏ ‌ ͏ ‌ ͏ ‌ ͏ ‌ ͏ ‌ ͏ ‌ ͏ ‌ ͏

☕ Diss tracks

Monday, May 6, 2024

Can Boeing turn things around...in space? May 06, 2024 View Online | Sign Up | Shop Morning Brew PRESENTED BY Wayfair Good morning. Because she won't remind you, I will: Mother's Day is less