Morning Brew - ☕ Don’t call it a comeback—yet

Esprit’s EVP of global commerce and technology.
November 19, 2024

Retail Brew

Hammermill

It’s Tuesday, and Q3 retail earnings from Walmart and Lowe’s dropped this morning, giving industry watchers a chance to look at the back-to-school season one more time before it’s all hands on deck for the holiday season.

In today’s edition:

—Vidhi Choudhary, Andrew Adam Newman, Alex Zank

E-COMMERCE

A piece of nostalgia

Esprit Vivien Killilea/Getty Images

For all the fans out there, the once-beloved fashion brand Esprit’s return to the US, which was set in motion last year, is still a work in progress, a top company executive told Retail Brew.

During Retail Brew’s recent virtual event, Scott Lux, EVP of global commerce and technology at Esprit, said the brand will test the waters with a number of different approaches, including pop-ups, specialty retail, and wholesale.

Last year, the California-native brand hosted pop-ups in New York, Chicago, Los Angeles, and Miami. “It was really to gather as much intelligence about the receptiveness of the brand, the relaunch, if you will. Do people remember Esprit? What’s it like to shop at Esprit?” Lux said.

Keep reading here.—VC

   

Presented By Hammermill

Print your best foot forward

Hammermill

STORES

Tip off

A customer is presented with a tablet with a tip screen. Lechatnoir/Getty Images

The backlash against tipflation, the term for tipping becoming both more widespread and heftier, has been raging for more than two years. In May, we noted that TikTok user @robert_calver posted a video that declared, “If I order standing up, I’m not tipping,” which has been viewed 3.3 million times.

Now a new survey by The Harris Poll on behalf of Paylocity has tackled the topic, asking respondents whether they agreed with the statement, “I will not give a tip if I am standing up while ordering.” More than 3 in 5 (62%) said they would not tip in that circumstance.

Keep reading here.—AAN

   

OPERATIONS

Moving out

Steve madden china move Ablokhin/Getty Images

How difficult is it to change course while shod in a pair of chunky platform heels?

Well, if “change course” involves overhauling supply chains in order to avoid promised tariffs on Chinese goods, footwear designer Steve Madden makes it look easy—putting into motion overnight a plan that was the result of years of planning.

Just two days after the Nov. 5 election in which former President Donald Trump regained the White House, Steve Madden CEO Edward Rosenfeld told investors the company will soon source a good portion of the products it now gets from China from other countries.

“We’ve worked hard over a multiyear period to develop our factory base and our sourcing capability in alternative countries like Cambodia, Vietnam, Mexico, Brazil, etc.,” Rosenfeld said during an earnings call on Nov. 7. “As of yesterday morning, we are putting that plan into motion and you should expect to see the percentage of goods that we source from China to begin to come down more rapidly going forward.”

Keep reading here on CFO Brew.—AZ

   

Together With Guild

Guild

SWAPPING SKUS

Today’s top retail reads.

Zero percent: The maker of Guinness is rolling out a zero-percent alcohol alternative in a play to grow sales in the wake of price hikes. (Reuters)

Looking ahead: Restaurant executives are eagerly anticipating 2025, after a difficult 2024 left a trail of bankruptcies and closures. (CNBC)

Done fishin’: Commercial fishing is on the decline in the US, and Americans are eating slightly less seafood as well. (the Associated Press)

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