A decline in retail spending in July may signal a shift in spending habits as consumers straddle a strengthening economy and virus-related concerns. Retail sales declined 1.1% in July compared to June, with the biggest decreases coming from motor vehicle and parts dealers, as well as non-store ... READ MORE >
retail
Four ways retailers and restaurants can manage current inflation and labor pressures
As the economic recovery from the pandemic-induced recession continues, consumer demand is high and the opportunity exists for a strong holiday retail and restaurant season. But these sectors are facing two significant headwinds: inflation and challenges finding qualified labor. During the recession, ... READ MORE >
Retail lessons from the RSM US Middle Market Business Index
While it’s no surprise that middle market retailers were hard hit by fallout from the COVID-19 pandemic, proprietary RSM data underscores this vulnerability. Some 44% of U.S. retailers lost domestic revenue because of the pandemic, while nearly half experienced disruptions to U.S. operations or ... READ MORE >
What middle market companies can learn from Nike about managing disruption
Last week, Nike surprised investors in its earnings report when it revealed that sales in China had declined by only 5% for the quarter ending February 28. While China is a key growth market for the apparel and footwear giant, the decrease demonstrated how well Nike had navigated a nationwide shutdown of ... READ MORE >
Retailers and restaurants should consider the CARES Act
On March 27 the president signed the CARES Act into law, providing $2 trillion in aid for individuals and business throughout the United States. Great uncertainty exists within the middle market as companies scramble to determine what programs are available, whether they are eligible, and how they can ... READ MORE >
Between a rock and a hard place, retailers ask to stop paying rent to survive
In a move for self-preservation, retailers are demanding that their landlords withhold or slash rent in the coming months as stores have closed to slow the spread of the coronavirus. Even before the onset of the virus, retail was already experiencing bankruptcies and store closures as consumers migrated ... READ MORE >
How middle market retailers can position themselves to survive coronavirus, and Amazon
Just as middle market retailers were scrambling to figure out how they would handle the fallout from the coronavirus and maintain their businesses, the industry’s behemoth, Amazon, weighed in with its own plan. Usually, these announcements carry ominous news for small and medium-size retailers. But ... READ MORE >
Betting that size matters: Macy’s closures on trend in retail
The number of store closings in the retail industry is widely publicized. Many media outlets cite data published by Coresight Research, which tracks store openings and closings in the retail ecosystem. Closings reached a record high of 9,302 in 2019, and 2020 is off to an equally troubling start, as ... READ MORE >
In the digital age, knowing the customer becomes all the more important
The most wonderful time of the year has passed, and retailers across the country are tallying sales to determine whether or not the holiday season was a boon or bust. It’s not such a clear picture. Take Target and Costco, two big box retailers trying to shift to digital commerce. Target reported ... READ MORE >
How middle market retailers can compete with free delivery
As consumer shopping habits continue to evolve away from traditional brick-and-mortar stores, the speed and cost of delivery have become a critical component of a true omnichannel retail strategy. Amazon, for example, recently announced that it would offer free grocery delivery to Prime members at ... READ MORE >