Rundown: Target lowers prices, Amazon beefs up Alexa & Macy's earnings
The Modern Retail Podcast
by Digiday
1d ago
On this week's Modern Retail Rundown, the staff dives into all the hurdles retailers and platforms face. Target, for example, announced plans to lower many of its prices ahead of lackluster earnings. Amazon, meanwhile, is reportedly updating Alexa with new generative AI features -- and allegedly planning to sell it as its own subscription. Lastly, Macy's reported its earnings and said it's beginning to see new traction ..read more
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KEH CEO Noah Treshnell on building a profitable online resale business
The Modern Retail Podcast
by Digiday
3d ago
Resale has proven difficult for many players in the apparel space, but KEH has made it work for the camera industry. KEH has been around for 40 years, beginning first as a used camera business. It's grown into the leading platform for pre-owned camera gear. Today, the company continues to see year-over-year growth and is profitable. CEO Noah Treshnell joined the Modern Retail Podcast and spoke about KEH's history, as well as his vision for the future. One of the real lessons Treshnell has learned is that online resale may not work for every type of product. It's usually grouped in with apparel ..read more
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How Cargo Crew has ridden the workwear wave with the help of Paris Hilton & Gwyneth Paltrow
The Modern Retail Podcast
by Digiday
1w ago
Workwear has become high fashion, and Cargo Crew has spent the last two decades riding this wave. The Australia-based company, which first launched in 2002, makes items like cooking aprons and boiler suits. Over the years, the company has expanded and grown -- Cargo Crew now works with 45,000 teams in over 80 countries and projects sales will grow 186% this year. This growth is partly thanks to high-profile clients and fans like celebrity chef Curtis Stone, Goop and even Paris Hilton, who wore one of Cargo Crew's suits earlier this year. "I think the power of celebrity, whilst it's important h ..read more
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Rundown: Gopuff's cash burn, Equinox's new membership & Sweetgreen beef
The Modern Retail Podcast
by Digiday
2w ago
On this week’s Modern Retail Rundown: The Information reported that Gopuff lost $400 million last year in its quest to grow revenue. Equinox launched a new health and wellness program that costs $40,000 a year and promises members lifelong health. Meanwhile, Sweetgreen has upset fans by getting rid of arugula the same week it introduced steak to its menu ..read more
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Movado Brand president Margot Grinberg on reintroducing a legacy watch company to younger shoppers
The Modern Retail Podcast
by Digiday
2w ago
"Everyone said that millennials were never going to buy watches," said Margot Grinberg, president of the Movado Brand and svp of e-commerce at its parent company Movado Group. The going theory was: "They don't need them to tell time, they had a phone; watches were dead after the cell phone came out." But that didn't happen. In fact, timepieces have never been more popular. According to a recent survey from the Boston Consulting Group, between 2021 and 2023, 54% of Gen Z and younger millennials increased their spending on luxury watches. Grinberg joined the Modern Retail Podcast and spoke about ..read more
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Rundown: Starbucks stores struggle, Walmart launches a new private label line & Dave & Buster’s bets on betting
The Modern Retail Podcast
by Digiday
3w ago
 On this week's Modern Retail Rundown: The show kicks off with a recap of Starbucks' latest earnings. The coffee shop chain cited bad weather, out-of-stock products and long wait times on app purchases as factors for a slight sales decline. Meanwhile, this week Walmart rolled out a new in-house brand called Bettergoods which features products like plant-based cheese, pistachio nut butter and trendy condiments. Meanwhile, arcade games destination Dave & Buster's said it's launching an in-app experience that will allow adults 18 years and older to place bets with real money ..read more
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Former Peloton CEO John Foley on why he launched his rug startup Ernesta
The Modern Retail Podcast
by Digiday
3w ago
John Foley may be best known as the founder and former CEO of Peloton, but it turns out interior design is his real passion. "I've been passionate about rugs for decades," he said on the Modern Retail Podcast. "I love design, I love spaces." This was all said to explain why he launched a rug company. Ernesta is a direct-to-consumer brand selling higher-end rugs. It launched in September of last year and just opened its first showroom in Manhattan last month. "Now I'm addicted to you know those super high-end custom rugs," he said. "And we're trying to bring them now to both interior designers ..read more
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Rundown: TikTok's impending U.S. ban, Saks goes into retail media & Amazon's grocery ambitions
The Modern Retail Podcast
by Digiday
1M ago
On this week's Modern Retail Rundown: President Biden signed a bill that requires TikTok to either sell itself or face a U.S. ban. Next, the team discusses Saks' newly announced retail media network — and why it's a growing trend among retailers. Lastly, we dive into a new Amazon grocery subscription service that caters to low-income families ..read more
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Prose CEO Arnaud Plas on growing a company with profitability in mind
The Modern Retail Podcast
by Digiday
1M ago
Every brand talks about paths to profitability, but few actually reach it. Customizable beauty brand Prose is one company that has bucked the trend and reached meaningful profitability. The company has made nearly $500 million since launching in 2018 and estimates it will bring in $160 million this year. What's more, this year the company is on track to be profitable, after hitting profitability last May as well for the entire third quarter of 2023. At the Modern Retail Commerce Summit, held last week in New Orleans, Prose co-founder and CEO Arnaud Plas spoke about how he's been leading the co ..read more
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Digiday Media Presents: The Return Season Three
The Modern Retail Podcast
by Digiday
1M ago
Digiday Media's WorkLife is proud to present season three of The Return, a podcast about the modern workforce, with this season focused on middle management. Last season, we heard what it’s like for Gen Z to enter the workforce for the first time in a post-pandemic world. We highlighted themes like why values are so important to Gen Zers, whether or not they are loyal to their employers, how they use TikTok for career advice, what it means to be a young professional who is a boss to older workers, and so much more. This time, we’re hearing from the population of workers that some argue is the ..read more
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