Retail news that keeps industry pros in the know
Retail Brew delivers the latest retail industry news and insights surrounding marketing, DTC, and e-commerce to keep leaders and decision-makers up to date.
Welcome back, everyone. We’re officially in the home stretch of this year, and make no mistake, there’s plenty of stuff that can’t “wait until after the New Year,” so let’s dive into what’s going on in retail this week.
In events: Yesterday, industry leaders and professors in CPG descended upon Marina del Rey, California, for BevNet Live Winter 2023, a three-day conference offering demonstrations, presentations, and networking events.
- Some of the speakers include Rosa Li, CEO of Wildwonder; Harmless Harvest CEO Ben Mand; and Seth Goldman, co-founder and CEO of Eat the Change.
In earnings: Stitch Fix reports its earnings Tuesday, which will put a bow on what has been an interesting year for the company. In January, former CEO Elizabeth Spaulding left her post as the company announced it would cut 20% of salaried roles.
- In June, former Macy’s exec Matt Baer took over as CEO.
- In its Q4 report on September 18, Stitch Fix reported a 22% YoY drop in revenue to $375.8 million.
- Baer communicated to investors in September that he wants to refocus on the company’s styling service while cutting costs.
Dollar General reports earnings Thursday, and is still very much looking to bounce back after a grim Q1 report that found the company’s core customers had dramatically cut back on spending. It was alarming for the company, since dollar and discount stores are typically able to weather tougher macroeconomic conditions.
- A small glimmer of hope for Dollar General is that its main competitor, Dollar Tree, didn’t meet Wall Street’s Q3 expectations, though it reported it’s bringing in higher income shoppers.
- In its Q3 earnings report last week, Dollar Tree’s CEO said it might close underperforming Family Dollar stores.