Pier 1 Imports reported quarterly results last week and—there's just no nice way to say this—they were awful. The company, which only last week completed a 1-for-20 reverse stock split to avoid its shares being delisted, delivered an abysmal 15.5% drop in sales and operating losses that nearly tripled. And in a sign that they have no clue (or … Continue reading Pier 1 Imports: From bad to worse to dire
It wasn't so long ago that Amazon's "Prime" two-day delivery benefit was a real game changer. Once a consumer paid the annual fee, the incremental cost of getting what (at the time) seemed like pretty fast delivery became zero. This is a "wow" for the customer, but it also creates adverse selection that's not necessarily … Continue reading Retail delivery wars: Smart strategy or an inevitable race to the bottom?
We get news we don't want or like all of the time. Some of it with significant consequences; most of it (thankfully) much less so. The job we didn't get. Unrequited love. A serious medical diagnosis. Any and all of these can send us into a downward spiral. If you are anything like me, you … Continue reading Firing the pollsters
Last week brought two big pieces of Neiman Marcus news. The day started with the announcement that the company had successfully extended the maturities on some $4.6 billion in debt. Then, a few hours later, Neiman's reported quarterly results, which were concerning. After six consecutive quarters of growth, comparable sales were down 1.5%, and the luxury retailer posted a … Continue reading Neiman Marcus kicks the can down the road. So now what?
I'm calling it. "Omnichannel" is dead. And in my mind it's long overdue. Nearly 16 years since its apparent coining, I think most of us can agree that if "omni-channel" ever had any real usefulness as a concept (debatable), it is now well past its expiration date. And while I've been bashing the term for quite some … Continue reading Omnichannel is dead. The future is harmonized retail.