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Genesco to Close 100+ Journeys Stores as it Focuses on Off-Mall Locations

Retail TouchPoints

The company is looking to pivot Journeys to an off-mall strategy, with 13 locations out of a planned 25 already open. Comparable sales at Journeys plummeted 14% , dragging the company’s overall comparable sales down 5% despite positive results from the Schuh and Johnston & Murphy banners. Genesco’s gross margin was 47.3%

Location 188
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DICK’S Sporting Goods Launches New Outlet And Clearance Banners

Retail TouchPoints

DICK’s will open eight stores carrying the two new banners, giving the retailer a total of 11 outlet and clearance centers across nine states. OVERTIME by DICK’S Sporting Goods locations will offer an assortment of apparel, footwear and equipment at up to 75% off. Spartanburg, S.C. and Racine, Wis.

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15 Tips to Succeed as Brick-and-Mortar Retail Reopens

Wiser

On top of that, local and national governments will have their own guidelines and requirements for organizations at this time. Maybe you’re moving around registers to give people space or capping the number of occupants in your store. Perhaps you reduced your hours or installed hand sanitizer at the entrances.

Markdowns 120
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As the Holidays Approach, it’s Time to Rethink Retail Pricing Methodology…and AI Can Help

Retail TouchPoints

In addition to this timing variation, over 60% of shoppers plan to do their browsing online, yet 85% expect to buy at least one product in a store. Add it all up and it’s clear that the timing duration, and location of holiday shopping is not like the old days.

Markdowns 267
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Off-Price Quarterly Results Showcase Benefits Of ‘Essential Retailer’ Status

Retail TouchPoints

While the retailer incurred additional expenses from associate bonuses and other COVID-19-related expenditures, Dollar General was able to reduce markdowns, on top of benefiting from increased purchase volume. TJX, which shut down both its stores and web site, reported net sales of $4.4 of net sales, compared to 22.5% in Q1 2019.

Markdowns 134
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Product Cannibalization in Retail (Definition, Examples, Tips)

Retalon

Typically unexpected, this situation can be extremely detrimental for retailers and also has the potential to create additional issues such as: Inventory Imbalances Overstocks Markdowns. To better understand how this is accomplished, let’s look at some product cannibalization examples. Product Mix. Product cannibalization examples.

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Is Your Fulfillment Strategy Healthy Enough to Keep Pace with Customer Expectations?

Retail TouchPoints

It was at that point that putting the technology and operations in place to fulfill from an increasingly complex supply chain network embarked upon its next frontier. By my recollection, the world of flexible fulfillment hit an inflection point about 15 years ago. Let’s start with demand forecasting and inventory deployment.