In what’s quickly becoming the true Gucci fashion, sales for the retailer dropped 25% YoY, as part of the broader decline in Kering’s Q2 revenue.

The numbers are hardly shocking for two primary reasons: Luxury is in a very obvious slump with many major retailers struggling, and Gucci has been at the forefront of this struggle with disappointing results quarter after quarter.

Bret Bero, assistant professor of practice in management at Babson College, calls it a “revenue challenge.”

“There may be other things that they need to fix and turn around, but when you have that greater revenue decline, the clock starts ticking,” he told Retail Brew.

He added that the brand’s biggest challenge over the years has been the loss of its core customers as it went through a series of different creative directors each with their own vision.

Keep reading here.—JS

Wayfair saw revenue rise in Q2 while keeping prices consistent and sticking to its “inventory-light” business model, CEO Niraj S. Shah told investors on Monday.

The earnings win is already inspiring some to ask if the Covid-era furniture boom is coming back after years of stagnation, though this optimism may be premature, according to Wayfair.

“I wouldn’t say the category is doing great,” Shah said. He described the market as “bumping along the buttom” after three years of significant declines fueled by low housing turnover, a macro-trend that usually translates to furniture purchases.

How does that reconcile with the company's relative success? “Our strength is structural and specific to Wayfair,” Shah said.

Keep reading here.—AV

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Cassidy Diamond is VP of brand partnerships at advertising company Magnite.

How would you describe your job to someone who doesn’t work in retail? Magnite makes the ad magic happen! Picture this: You’re in the zone, about to binge-watch something amazing, and voilà! An ad pops up—but not just any ad. It’s like the ad gods personally hand-picked it for you. No buffering meltdowns, no seeing the same dancing cats on repeat. We’re the ad whisperers, making sure the right ads find the right eyeballs at the right time. And me? I lead a team of talented people dedicated to helping brands and retailers drive performance by connecting with consumers watching content across any screen.

One thing we can’t guess about your job from your LinkedIn profile? You might assume my day is full of high-tech collaboration tools, and it is, considering our amazing technology and productivity platforms. But a surprising amount of my day is spent in meetings or talking on the phone. I’ve seen endless email chains resolve in a matter of minutes over a phone call. Nothing beats true, real-life communication.

Keep reading here.—EC

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