Traditional US retail fails to compete with online stores
One of America's largest retail shoe chains, Payless ShoeSource, went bankrupt. And Ralf Lauren closed the flagship store of Polo Ralf Lauren on Fifth Avenue in New York.
Retail Payless ShoeSource has about 4,5 thousand shoe stores for the whole family; retail is present in 30 countries around the world. The company filed a bankruptcy lawsuit because of the inability to service its loan debt. The retailer plans to conduct business restructuring and the immediate closure of 400 stores with low profitability in the United States and Puerto Rico.
In addition, premium clothing and accessories brand Ralf Lauren yesterday announced the closure of its flagship store, Polo Ralf Lauren, located in New York on Fifth Avenue. As part of optimizing the business, the company also plans to reduce staff and move its digital platform to a less expensive system. It is expected that these steps will save about $ 140 million. But the company will have to spend about $ 370 million to pay severance pay to laid-off employees and the commission for terminating the lease.
American traditional retail is going through difficult times. The main challenges for retailers today are high rental rates, an increase in hourly wages and other costs, and increased competition from online stores.
Among the retailers who filed for bankruptcy last year, in accordance with article 11 of the Bankruptcy Act in the United States, which implies a restructuring of the business due to the inability to service credit debt, Wet Seal, BCBG, American Apparel, Pacific Sunwear of California (PacSun) and Aéropostale Inc.
Payless ShoeSource, one of America's largest shoe retailers, has filed for bankruptcy. And Ralf Lauren has closed the Polo Ralf Lauren flagship store on Fifth Avenue in ...
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We are ready for active development in the Russian market
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Coach turned to Big Data analysis and won the interest of a young audience
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IDOL updates the concept
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Louis Vuitton opens a new factory in Italy
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Camper has released innovative sneakers - designers
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Fashion Week takes place in Moscow
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Two prominent Russian fashion designers Vyacheslav Zaitsev and Valentin Yudashkin passed away
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Shoe educational program: what shoe soles are made of
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How to set prices that will earn
Some businessmen still confuse the concept of margin with the concept of trade margins and set prices for their goods, guided solely by the example of competitors. No wonder they go broke! Analyst at the Academy of Retail Technologies Maxim Gorshkov gives several tips and formulas with which you can set not only ruinous, but also profitable prices.
Sales of shoes and accessories: effective techniques for business rhetoric
Which speech modules are effective in communicating with potential and current customers of shoe stores, and which are not, Anna Bocharova, a business consultant, knows.
We form the salary of sellers: expert advice
“How do you charge your consultants for personal or general sales?” Is one of the most popular questions causing a lot of controversy and gossip on the online forums of retail business owners. Indeed, how to properly form the earnings of sellers? But what about bonuses, where to get a sales plan from, do employees allow them to buy goods at discounted stores? In search of truth, the Shoes Report turned to a dozen shoe retailers, but no company wanted to disclose its motivation system - the process of its development was too complicated and individual. Then we asked four business consultants, and finally became convinced that the topic of seller motivation is very complex, because even our experts could not come to a common opinion.
The whole truth about Bayer. Who is he and how to become one?
Bayer is no longer a new, but still a popular and sought-after profession. It’s fashionable to be a buyer. Buyers are at the origins of the emergence and development of trends. If the designer offers his vision of fashion in the season, then the buyer selects the most interesting commercial ideas. It is on buyers that the policy of sales of stores and what, in the end, the buyer will wear depends on. This profession is surrounded by a magical fleur, often associated with a lack of understanding of what exactly is the work of a buyer.
Technology Selling Issues
There is nothing worse than meeting the buyer with the words “Hello, can I help you with something?”, Because the seller works in the store just to help. Criticizing this well-established pattern of communication with the buyer, Andrei Chirkarev, business coach for effective sales and the founder of the New Economy project, shares the technology of truly selling issues with readers of Shoes Report.
Fur, and not only: types of lining
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The best models of Czech shoes of the past
In Soviet times, for shoes from Czechoslovakia sold under the Cebo brand, customers stood in line for four hours and did not regret it, because Czech shoes were considered to be of high quality, comfortable and fashionable. Shoe designer Juraj Shushka shared a photo archive of his collection with Shoes Report magazine, which contains the most interesting Cebo models from the 1940's to the 1980's.
Retail Arithmetic
Before you begin to solve specific problems, you need to find out how accurately all the leaders of your company understand the basic terminology of retail.
How to fire a worker without tears, scandal and trial
Sooner or later, any manager is faced with the need to part with an employee. Properly and on time the dismissal procedure will save the company money, and the boss himself - nerves and time. But why sometimes, knowing that a break in relations is inevitable, we put off the decision for months?
