Remarkable Retail Episode 311 welcomes guest co-host and longtime friend of the pod Anne Mezzenga, Founder & CEO of Retail Field Report, joining Steve Dennis and Michael LeBlanc on mic and on camera.

Anne opens with her new venture, launched in March as an evolution of the work she built at Omni Talk Retail with co-founder Chris Walton. Retail Field Report takes a journalist's lens rather than an analyst's — working shifts in stores, interviewing executives and walking floors to learn what's actually happening inside retail organizations, not what the headlines claim.

The news opens on a shaky macro backdrop: diesel at a four-year high, the priciest Labor Day gas in a year, worse still across Europe, and a Fed narrative that has flipped from cuts to a 62% market-implied probability of at least two hikes by year-end. Michael adds the Canadian view — reciprocal tariffs, shelved US liquor and a tourism reversal after June's 5% bump in cross-border travel. Anne reports from the field: once fuel, healthcare and food are covered, the discretionary spending big-box retailers count on is running dry.

On earnings, Steve unpacks Five Below's five straight quarters of double-digit comps, 23% revenue growth, its move past 2,000 stores and a rare guidance raise. Victoria's Secret posts a 9% comp; Anne credits store consistency, omnichannel execution and strength in PINK and beauty, and the pair explore whether GLP-1s — increasingly prescribed alongside hormone replacement therapy — are quietly reshaping apparel and beauty demand. Lululemon disappoints, with comps down 9% and the Americas down 12% as Heidi O'Neill steps in as CEO; Anne argues the brand needs a sharper point of view and less rinse-and-repeat product. At Kohl's, Steve flags a second straight quarter of Sephora underperforming the rest of the store.

The centerpiece is Anne's work as a flex retail associate, booking shifts through the Reflex app in cities across the US: point-of-sale systems so intuitive that training is nearly obsolete, twelve strangers running a warehouse sale that moved 3,000 customers in a single shift, and hospitality-only roles at Longchamp in Boston and Sézane in San Francisco, evidence that mid-tier retailers are putting real P&L dollars into the welcome.

The trio then debates Anthropic's open-source Claude Commerce Agents — throttled assortments in agentic pilots, returns exposure, and grocery shoppers splitting weekly lists across banners by price. Anne walks Target stores with executives and lands bullish on the Bullseye, while Steve sizes up Shein's Hong Kong listing at roughly $27 billion against its one-time $100 billion valuation.

On the radar screens: Quince's rumored raise and brick-and-mortar ambitions (Steve's skeptical the assortment translates), and Michael on JBS, the world's biggest meat processor, Brazilian beef imports, and whether beef can price itself out of the grocery basket for good.

Registration is open for a special webinar featuring Steve in conversation with Placer AI's Head of Analytical Research RJ Hottovy. From changing shopping patterns to emerging market opportunities, shifting consumer demand continues to reshape the industry. So don't miss this data-driven session unpacking the most important trends defining today’s marketplace and the strategies leading brands are using to win retail's future. It's all brought to you by Placer.AI and It all happens on Tuesday September 29 at 1pm ET..

Register here today:

https://www.placer.ai/discover-events/discover-shifting-consumer-demand

About Us

Steve Dennis is a strategic advisor and keynote speaker focused on growth and innovation, who has also been named one of the world's top retail influencers. He is the bestselling author of two books: Leaders Leap: Transforming Your Company at the Speed of Disruption and Remarkable Retail: How To Win & Keep Customers in the Age of Disruption. Steve regularly shares his insights in his role as a Forbes senior retail contributor and on social media.

Michael LeBlanc is a senior retail advisor, keynote speaker and media entrepreneur. Michael has delivered keynotes, hosted fire-side discussions hosted senior retail executive on-stage in 1:1 interviews worldwide. Michael produces and hosts a network of leading retail trade podcasts, including The Remarkable Retail Podcast, The Voice of Retail, The Food Professor, The FEED powered by Loblaw and the Global eCommerce Leaders podcast. He has been recognized by the NRF as a global Top Retail Voice for 2025 and 2026 and continues to be a ReThink Retail Top Retail Expert for the fifth year in a row.

Episode 310 opens with Steve Dennis reporting back from an invitation-only Amazon analyst day in Seattle, two days focused on Prime and grocery. Steve unpacks the breadth of the Prime flywheel, Amazon's push into sub-one-day delivery, the drone facility he toured just before the company announced an expansion to roughly 500 markets, and why Amazon's rise to the number two grocer in North America should have rivals looking over their shoulders.

Then, the numbers. US retail sales grew about 5% excluding fuel. Walmart delivered a lackluster 2.6% US comp, its weakest in six years, offset by a 46% jump in global advertising and nearly $3 billion in tariff refunds the company says it will reinvest in price. Target posted a nearly 4% comp with traffic up 3.6%; real progress, though Steve cautions the invitation can be better than the party. In off-price, TJX comped 4% while Ross Stores turned in a second straight double-digit quarter. And Simon Property Group made the case that great physical retail is alive and well.

The interview, recorded live at the CommerceNext Growth Show in New York, features Scott Friend, Partner at Bain Capital Ventures, and Indy Guha, General Partner at VMG Partners. Scott co-founded price optimization pioneer ProfitLogic before joining BCV twenty years ago; Indy co-leads VMG's commerce infrastructure fund after scaling Signifyd. Together they tackle a hard question: when AI makes everything easier to build, how do you tell a real company from a pitch formula? Their answer centers on founder clarity and earned domain expertise, because a couple of quarters' head start has never mattered more.

The conversation ranges across whether personalization and merchandising optimization are now table stakes, the surveillance pricing debate, AI-driven homogeneity versus the promise of the "N of one" customer journey, and Indy's memorable "Claude-proof" test for anyone building in commerce. Both push back on agentic commerce hype, arguing agents will own low-interest replenishment missions while people keep the treasure hunt. Scott points to the revenue ramp of AI-native companies as evidence this cycle is real, not overhyped. Both land in the same place: brand, community, and authenticity are the last durable moats, and retail teams must become architects rather than assembly-line workers.

Back in studio, on the radar: Steve tracks the bond market, with 30-year Treasuries at a 19-year high and the 10-year at 4.75%, squeezing discretionary income and retailer expansion plans alike. Michael watches Canadian icon Roots, newly sold to New York's Marquee Brands with Joe Mimran advising on merchandising, and asks whether the brand can reclaim its former glory.

Registration is open for a special webinar featuring Steve in conversation with Placer AI's Head of Analytical Research RJ Hottovy. From changing shopping patterns to emerging market opportunities, shifting consumer demand continues to reshape the industry. So don't miss this data-driven session unpacking the most important trends defining today’s marketplace and the strategies leading brands are using to win retail's future. It's all brought to you by Placer.AI and It all happens on Tuesday September 29 at 1pm ET..

Register here today:

https://www.placer.ai/discover-events/discover-shifting-consumer-demand

About Us

Steve Dennis is a strategic advisor and keynote speaker focused on growth and innovation, who has also been named one of the world's top retail influencers. He is the bestselling author of two books: Leaders Leap: Transforming Your Company at the Speed of Disruption and Remarkable Retail: How To Win & Keep Customers in the Age of Disruption. Steve regularly shares his insights in his role as a Forbes senior retail contributor and on social media.

Michael LeBlanc is a senior retail advisor, keynote speaker and media entrepreneur. Michael has delivered keynotes, hosted fire-side discussions hosted senior retail executive on-stage in 1:1 interviews worldwide. Michael produces and hosts a network of leading retail trade podcasts, including The Remarkable Retail Podcast, The Voice of Retail, The Food Professor, The FEED powered by Loblaw and the Global eCommerce Leaders podcast. He has been recognized by the NRF as a global Top Retail Voice for 2025 and 2026 and continues to be a ReThink Retail Top Retail Expert for the fifth year in a row.

Amazon keeps raising the bar. Steve Dennis and Michael LeBlanc open with the retailer's blockbuster quarter: massive gains in AWS and advertising, staggering AI capex, and retail revenue up 16% year over year, up from 12% last year. Third-party sellers now drive more than 60% of the business, and Citi pegs underlying GMV growth near 10%, roughly double the industry average. Amazon's B2B division alone now tops $60 billion, bigger than all but eleven U.S. retailers. Then the hosts dig into the agentic commerce numbers Amazon disclosed as Rufus folds into Alexa shopping, why sample bias demands caution here, and how grocery momentum is turning Amazon into a mega market-share threat. 

Then: Shopify's revenue up 32%, and the tale-of-two-cities reality that a handful of giants now drive nearly all e-commerce growth. A mid-year check on Steve's Prediction #8 — luxury's future won't be evenly distributed. LVMH, Kering, and Capri lag on China softness and war induced Gulf weakness, while Hermès, Ralph Lauren, Richemont, and Zegna keep delivering outsized results.

Live from the CommerceNext Growth Show: Kartik Hosanagar. He's Wharton's John C. Hower Professor of Technology and Digital Business, author of A Human's Guide to Machine Intelligence, and co-founder of Bliss Labs. His argument: the biggest shift in retail isn't a new technology or channel. It's a new customer. Treating AI as another distribution channel is the same mistake movie studios made with Netflix.

There's no marketing science for AI yet. $9.99 pricing, scarcity, social proof — a model may not respond to any of it. Kartik walks through the Ridge wallet case: invisible in ChatGPT's "gifts for men" results, then the default recommendation within three weeks, complete with a hallucinated promotion. Every retailer faces the same fork: efficiency or meaning. The middle is the most dangerous place to stand.

Kartik also details the simulation sandboxes that let brands test counterfactuals in a day instead of eight weeks, why you can't just ask an LLM why it picked a brand, and the three attitudes retailers need now: curious, experimental, collaborative

Back in studio: Wayfair's encouraging quarter and Steve's change of heart, Warby Parker's mixed report as store count passes 400, tariff rebates ($100 billion of $160 billion already repaid, more tariffs looming), and whether live selling has hit its tipping point with QVC out of bankruptcy and Whatnot valued at $20 billion.

Registration is open for a special webinar featuring Steve in conversation with Placer AI's Head of Analytical Research RJ Hottovy. From changing shopping patterns to emerging market opportunities, shifting consumer demand continues to reshape the industry. So don't miss this data-driven session unpacking the most important trends defining today’s marketplace and the strategies leading brands are using to win retail's future. It's all brought to you by Placer.AI and It all happens on Tuesday September 29 at 1pm ET..

Register here today:

https://www.placer.ai/discover-events/discover-shifting-consumer-demand

About Us

Steve Dennis is a strategic advisor and keynote speaker focused on growth and innovation, who has also been named one of the world's top retail influencers. He is the bestselling author of two books: Leaders Leap: Transforming Your Company at the Speed of Disruption and Remarkable Retail: How To Win & Keep Customers in the Age of Disruption. Steve regularly shares his insights in his role as a Forbes senior retail contributor and on social media.

Michael LeBlanc is a senior retail advisor, keynote speaker and media entrepreneur. Michael has delivered keynotes, hosted fire-side discussions hosted senior retail executive on-stage in 1:1 interviews worldwide. Michael produces and hosts a network of leading retail trade podcasts, including The Remarkable Retail Podcast, The Voice of Retail, The Food Professor, The FEED powered by Loblaw and the Global eCommerce Leaders podcast. He has been recognized by the NRF as a global Top Retail Voice for 2025 and 2026 and continues to be a ReThink Retail Top Retail Expert for the fifth year in a row.

Steve Dennis and Michael LeBlanc open episode 308 with a check on Steve's number one prediction for 2026 — uncertainty reigns supreme — and it's holding up. The flat 10% global tariff is gone, replaced by a 10–12.5% range on nearly all U.S. imports, with steeper rates for Canada and Brazil. The new forced-labor justification behind the increases strikes Steve and Michael as ridiculous and unlikely to survive a court challenge.

The retail numbers look better than the tariff logic. June retail sales rose 5.7% year over year, led by sporting goods (a World Cup bump) and electronics. Grocery managed just 1%. Steve walks through why: dollars flat, units falling, prices 33% above pre-COVID levels, food bank use climbing on both sides of the border. Albertsons is the clearest case — sales nearly flat, guidance cut, stock down 20% in a day.

Then, recorded live in the pop-up studio at the CommerceNext Growth Show in New York, Ulta Beauty Chief Retail Officer Amiee Bayer-Thomas argues stores are queen. Thirty years into a career she calls a lattice rather than a ladder — seven roles at Ulta alone, including chief supply chain officer through 2020 — she now owns everything from site selection and store design to services, asset protection, eventing, and the omni guest journey.

Stores, she says, are experiential hubs delivering "beautytainment" through 60,000 associates across 1,500 locations. The numbers: 47 million loyalty members, 95% of whom shopped in-store last year. A NielsenIQ study of Gen Alpha found the most AI-engaged shoppers still pick stores over apps, 57% versus 36%. Amiee's take on AI: it's an "and," not an "or." Technology can flag a replenishment; only an associate reads the confusion on a guest's face in the skincare aisle. Omni guests visit and spend three times more. She previews a Times Square flagship alongside outlet and small-format stores, plus an eventing calendar headed toward 140,000 events this year.

In the news, Wayfair is expanding its store footprint. Shein is heading toward a Hong Kong listing at roughly half its 2022 valuation. Also on the radar: fuel costs rising again as back-to-school and holiday approach, and U.S. population growth of 0.25% turning retail into a fight over share.

Registration is open for a special webinar featuring Steve in conversation with Placer AI's Head of Analytical Research RJ Hottovy. From changing shopping patterns to emerging market opportunities, shifting consumer demand continues to reshape the industry. So don't miss this data-driven session unpacking the most important trends defining today’s marketplace and the strategies leading brands are using to win retail's future. It's all brought to you by Placer.AI and It all happens on Tuesday September 29 at 1pm ET..

Register here today:

https://www.placer.ai/discover-events/discover-shifting-consumer-demand

About Us

Steve Dennis is a strategic advisor and keynote speaker focused on growth and innovation, who has also been named one of the world's top retail influencers. He is the bestselling author of two books: Leaders Leap: Transforming Your Company at the Speed of Disruption and Remarkable Retail: How To Win & Keep Customers in the Age of Disruption. Steve regularly shares his insights in his role as a Forbes senior retail contributor and on social media.

Michael LeBlanc is a senior retail advisor, keynote speaker and media entrepreneur. Michael has delivered keynotes, hosted fire-side discussions hosted senior retail executive on-stage in 1:1 interviews worldwide. Michael produces and hosts a network of leading retail trade podcasts, including The Remarkable Retail Podcast, The Voice of Retail, The Food Professor, The FEED powered by Loblaw and the Global eCommerce Leaders podcast. He has been recognized by the NRF as a global Top Retail Voice for 2025 and 2026 and continues to be a ReThink Retail Top Retail Expert for the fifth year in a row.

This episode comes to you live from our pop-up studio at the CommerceNext Growth Show in New York City. Our guest: Jason LaRose, CEO of Bombas — the brand that turned socks, underwear, and tees into a mission-powered growth machine, with more than 200 million essential clothing items donated to people experiencing homelessness.

But first, the news — and in our summer biweekly format, there's plenty.

Steve breaks down Nike's unimpressive quarter: revenues down, China off 12%, and an operating profit boost driven almost entirely by a nearly billion-dollar one-time tariff refund. The contrast with Levi's couldn't be sharper — under Michelle Gass, the brand posted 8% sales growth, expanding margins, and momentum across women's and tops.

The winners keep winning elsewhere too. Aritzia's remarkable run continues with comps up an eye-popping 35% and digital up nearly 60%. Uniqlo parent Fast Retailing delivers 22% revenue growth from its 2,500-store global fleet. And Costco's monthly numbers offer fresh evidence of retail's Great Concentration.

Then there's Kroger, acquiring regional grocery powerhouse Giant Eagle — a $9 billion revenue business bought at a strikingly low multiple. Michael and Steve debate the real question: does acquiring-to-compete solve Kroger's relevance problem, or just buy cost leverage against Walmart, Costco, and Amazon?

Then it's on to Jason LaRose, who joined Bombas after leadership roles at Under Armour and Equinox. What drew him in: a genuine mission wrapped around outstanding economics — profitable essentially since day one. He traces the brand's arc from Indiegogo campaign and Shark Tank's most successful company ever to nearly $2 billion in cumulative sales, now expanding into underwear, tees, footwear, and slippers — the very items most requested in homeless shelters.

LaRose also delivers a masterclass in disciplined distribution: highly curated wholesale partnerships with Target, Dick's, Nordstrom, and Scheels, each with distinct assortments for distinct customers, alongside the brand's first stores and expansion into Canada. His mantra — quality, comfort, mission, in that order — explains why repeat rates keep the funnel from leaking where so many DTC peers sprang holes.

Wrapping up, on Steve's radar: a Dallas-area tour of the newly merged Container Store and Bed Bath & Beyond format (who exactly is this store for?), plus his provocative new Substack essay, "Convenience is Boring." On Michael's radar: the soon-to-open Gordie Howe Bridge, his conversation with U.S. Ambassador Pete Hoekstra, and why USMCA review limbo keeps piling uncertainty — and cost — onto businesses and consumers across North America.

Registration is open for a special webinar featuring Steve in conversation with Placer AI's Head of Analytical Research RJ Hottovy. From changing shopping patterns to emerging market opportunities, shifting consumer demand continues to reshape the industry. So don't miss this data-driven session unpacking the most important trends defining today’s marketplace and the strategies leading brands are using to win retail's future. It's all brought to you by Placer.AI and It all happens on Tuesday September 29 at 1pm ET..

Register here today:

https://www.placer.ai/discover-events/discover-shifting-consumer-demand

About Us

Steve Dennis is a strategic advisor and keynote speaker focused on growth and innovation, who has also been named one of the world's top retail influencers. He is the bestselling author of two books: Leaders Leap: Transforming Your Company at the Speed of Disruption and Remarkable Retail: How To Win & Keep Customers in the Age of Disruption. Steve regularly shares his insights in his role as a Forbes senior retail contributor and on social media.

Michael LeBlanc is a senior retail advisor, keynote speaker and media entrepreneur. Michael has delivered keynotes, hosted fire-side discussions hosted senior retail executive on-stage in 1:1 interviews worldwide. Michael produces and hosts a network of leading retail trade podcasts, including The Remarkable Retail Podcast, The Voice of Retail, The Food Professor, The FEED powered by Loblaw and the Global eCommerce Leaders podcast. He has been recognized by the NRF as a global Top Retail Voice for 2025 and 2026 and continues to be a ReThink Retail Top Retail Expert for the fifth year in a row.

Recorded live on the CommerceNext Growth Show main stage in NYC, Steve Dennis sits down with Kimberley "KG" Gardiner, Chief Marketing Officer of Tractor Supply Company, who traces her path from senior marketing roles at Toyota, Lexus, and Volkswagen to leading one of America's most distinctive lifestyle retailers — 2,400 stores, 50,000-plus team members, and a culture she felt firsthand walking a Virginia store with CEO Hal Lawton during her interview. She explains how the "Life Out Here" platform works as a strategic decision filter, not a tagline, and walks through five core customer segments — from the Country Dabbler to the Big Barn customer, who shops up to 52 times a year. The conversation digs into the jobs-versus-joy duality of the Tractor Supply shopper, the balance of AI and human connection in stores, and why frictionless isn't always the goal. KG breaks down the retailer's proprietary in-store LLM, "Hey Gura," which helps team members field questions on everything from sick livestock to pet nutrition — and explains why 80% of online orders get fulfilled through stores. As she puts it: digital scales convenience, but stores scale trust.

Up front, Steve and Michael open on the Strait of Hormuz, where ceasefire whiplash has eased fuel prices but left them well above pre-incursion levels. Fresh Moody's data on the K-shaped economy lands hard: the top 20% of US households now drive 60% of consumer spending, their outlays up 6.5% year-over-year, while the bottom 80% can't keep pace with inflation. That split is finally hitting grocery — Kroger comped 1%, Albertsons 0.7%, Publix flat — while Walmart, Costco, Amazon, T&T, Whole Foods, and Sprouts keep surging. The unremarkable middle is collapsing in grocery just as it did in department stores and category killers.

After the interview, Steve recaps CommerceNext, including a sharp Mickey Drexler fireside with Simeon Siegel on taste, curation, and craftsmanship, before unpacking Walmart's $1.4B Vibe.co acquisition — a connected-TV play that rhymes with the earlier Vizio deal. On the prediction tracker: Starbucks is tapping the brakes on its all-third-place strategy, teasing up to 5,000 smaller, drive-through-led US locations. On the radar: an early start to back-to-school promos and a moved-up Prime Day, both hinting at margin pressure ahead. Michael closes on disappointing FIFA World Cup numbers across host cities, and crowns Taylor Swift the clear winner in the economic-contribution battle.

Steve's Starbucks Prediction 

Registration is open for a special webinar featuring Steve in conversation with Placer AI's Head of Analytical Research RJ Hottovy. From changing shopping patterns to emerging market opportunities, shifting consumer demand continues to reshape the industry. So don't miss this data-driven session unpacking the most important trends defining today’s marketplace and the strategies leading brands are using to win retail's future. It's all brought to you by Placer.AI and It all happens on Tuesday September 29 at 1pm ET..

Register here today:

https://www.placer.ai/discover-events/discover-shifting-consumer-demand

About Us

Steve Dennis is a strategic advisor and keynote speaker focused on growth and innovation, who has also been named one of the world's top retail influencers. He is the bestselling author of two books: Leaders Leap: Transforming Your Company at the Speed of Disruption and Remarkable Retail: How To Win & Keep Customers in the Age of Disruption. Steve regularly shares his insights in his role as a Forbes senior retail contributor and on social media.

Michael LeBlanc is a senior retail advisor, keynote speaker and media entrepreneur. Michael has delivered keynotes, hosted fire-side discussions hosted senior retail executive on-stage in 1:1 interviews worldwide. Michael produces and hosts a network of leading retail trade podcasts, including The Remarkable Retail Podcast, The Voice of Retail, The Food Professor, The FEED powered by Loblaw and the Global eCommerce Leaders podcast. He has been recognized by the NRF as a global Top Retail Voice for 2025 and 2026 and continues to be a ReThink Retail Top Retail Expert for the fifth year in a row.

Episode 304 reunites The Analysts — Remarkable Retail's celebrated panel of Forrester's Sucharita Kodali, Guggenheim's Simeon Siegel, and GlobalData's Neil Saunders — to take stock of retail coming out of earnings season. Steve Dennis and Michael LeBlanc open on the paradox of 2026: results are largely strong, sentiment is dismal. Simeon argues the link between the two is "tenuous at best" — people talk one way and spend another. Neil has the data: roughly 60% of shoppers who expect the economy to worsen still spent more than a year ago, propped up by spring tax refunds that won't repeat.

Then the K-shaped economy. Higher-income households drive most of the real volume growth; middle-income shoppers prop up value growth mainly because prices are higher. Sucharita revisits "peak ambiguity" and the "vibe session," noting record sales barely outrun stubborn inflation. The panel unpacks the standouts — Ross's 17% comp, Victoria's Secret up 15% — and debates GLP-1's role in surging apparel and beauty: wardrobe replacement, new confidence, trading up to statement pieces.

On turnarounds, Simeon lands the episode's sharpest thesis: brands "ubiquitize" and peak around $3–4 billion in the US. Lululemon got too big, over-distributed, and over-earning — so the bad sales have to "walk out the door" before the brand can re-elevate, the same lens that frames Nike's long reset. He and Sucharita draw the Gap parallel ahead of Simeon's on-stage interview with Mickey Drexler, noting Old Navy now dwarfs Gap itself. Neil makes the case for Macy's under Tony Spring — basics fixed first, satisfaction and visitation improving — while Steve stays skeptical of the pace.

Next, the DTC reckoning. Simeon reframes his old "DTC is not all it's cracked up to be" call as "anti-anti-wholesale": outside high-margin luxury, nearly every brand needs a healthy wholesale business — and stores remain the best channel because "the customer is your employee." Sucharita pushes back on the AI narrative, reminding everyone it's far more than generative hype, as the panel digs into why scaled players — Amazon, Walmart, Costco, off-price — keep compounding through retail media, marketplaces, and flywheel economics.

It closes on the wealth effect, trillion-dollar market caps, and whether a market correction could rattle high-end spending — then rapid-fire hot takes: brands to watch (Cozey, Ross Stores, Goyard) and what's on each analyst's radar, from inflation and surging oil prices to a quiet "middle of the doughnut" news lull and an election year's hunt for stability.

Registration is open for a special webinar featuring Steve in conversation with Placer AI's Head of Analytical Research RJ Hottovy. From changing shopping patterns to emerging market opportunities, shifting consumer demand continues to reshape the industry. So don't miss this data-driven session unpacking the most important trends defining today’s marketplace and the strategies leading brands are using to win retail's future. It's all brought to you by Placer.AI and It all happens on Tuesday September 29 at 1pm ET..

Register here today:

https://www.placer.ai/discover-events/discover-shifting-consumer-demand

About Us

Steve Dennis is a strategic advisor and keynote speaker focused on growth and innovation, who has also been named one of the world's top retail influencers. He is the bestselling author of two books: Leaders Leap: Transforming Your Company at the Speed of Disruption and Remarkable Retail: How To Win & Keep Customers in the Age of Disruption. Steve regularly shares his insights in his role as a Forbes senior retail contributor and on social media.

Michael LeBlanc is a senior retail advisor, keynote speaker and media entrepreneur. Michael has delivered keynotes, hosted fire-side discussions hosted senior retail executive on-stage in 1:1 interviews worldwide. Michael produces and hosts a network of leading retail trade podcasts, including The Remarkable Retail Podcast, The Voice of Retail, The Food Professor, The FEED powered by Loblaw and the Global eCommerce Leaders podcast. He has been recognized by the NRF as a global Top Retail Voice for 2025 and 2026 and continues to be a ReThink Retail Top Retail Expert for the fifth year in a row.

On Episode 304 of the Remarkable Retail podcast, co-hosts Steve Dennis and Michael LeBlanc dig into a busy earnings season, the global forces reshaping retail, and the competitive divides separating winners from also-rans.

They open with the department store sector, which Steve frames as "The Good, The Bad, and The Ugly." Macy's shows incremental progress and Bloomingdale's posts double-digit growth, but Kohl's stays stuck and JCPenney's latest numbers underscore the structural problems dogging traditional operators. The throughline: shifting market share, real estate decisions, and changing consumer behavior keep narrowing the path forward for the format, and the gap between the sector's healthier players and its laggards continues to widen.

From there, the hosts turn to retail's brighter turnaround stories. Victoria's Secret keeps building momentum with stronger comps and improved profitability, while Gap Inc. shows how disciplined brand management and sharper product focus can revive a business. They also weigh the intensifying competition among athleisure brands as the category's leaders pull further ahead and the middle of the pack scrambles to keep up.

Value retailing is the episode's recurring theme. TJX, Ross Stores, Burlington, and Five Below all posted strong results, reinforcing the durable consumer shift toward value and the treasure hunt. Steve and Michael explore why off-price keeps outperforming while dollar stores wrestle with a tougher customer—and they spotlight Costco, where fuel, membership economics, and traffic-driving loss leaders keep the warehouse club model ahead of much of the sector.

Drawing on his recent travels through Portugal and Spain, Steve shares observations on European retail: the distinct dynamics of specialty players, the enduring pull of department stores like El Corte Inglés, and one of the world's most remarkable retail experiences, Livraria Lello in Porto, a bookstore so beloved that shoppers pay admission and book a timeslot just to get in.

The episode closes with Walmart's fast-expanding same-day delivery, the rise of faster fulfillment across retail, Saks Global's exit from bankruptcy, and the geopolitical risks looming over supply chains and consumer spending. Michael also previews his visit to T&T Supermarket's first California store—a reminder of how much innovation is still alive in modern grocery. It's a wide-ranging look at a sector where the winners are pulling away and the stragglers are running out of time.

Registration is open for a special webinar featuring Steve in conversation with Placer AI's Head of Analytical Research RJ Hottovy. From changing shopping patterns to emerging market opportunities, shifting consumer demand continues to reshape the industry. So don't miss this data-driven session unpacking the most important trends defining today’s marketplace and the strategies leading brands are using to win retail's future. It's all brought to you by Placer.AI and It all happens on Tuesday September 29 at 1pm ET..

Register here today:

https://www.placer.ai/discover-events/discover-shifting-consumer-demand

About Us

Steve Dennis is a strategic advisor and keynote speaker focused on growth and innovation, who has also been named one of the world's top retail influencers. He is the bestselling author of two books: Leaders Leap: Transforming Your Company at the Speed of Disruption and Remarkable Retail: How To Win & Keep Customers in the Age of Disruption. Steve regularly shares his insights in his role as a Forbes senior retail contributor and on social media.

Michael LeBlanc is a senior retail advisor, keynote speaker and media entrepreneur. Michael has delivered keynotes, hosted fire-side discussions hosted senior retail executive on-stage in 1:1 interviews worldwide. Michael produces and hosts a network of leading retail trade podcasts, including The Remarkable Retail Podcast, The Voice of Retail, The Food Professor, The FEED powered by Loblaw and the Global eCommerce Leaders podcast. He has been recognized by the NRF as a global Top Retail Voice for 2025 and 2026 and continues to be a ReThink Retail Top Retail Expert for the fifth year in a row.

In episode 303 of Remarkable Retail, Steve Dennis and Michael LeBlanc deliver a sharp, fast-moving episode built around a single conviction from one of retail's most influential retailers: the future is people-led and tech-enabled.

Chris Nicholas, former President & CEO of Sam's Club and now President & CEO of Walmart International — a global operation spanning 18 countries, 5,700 stores, and over 500,000 employees shares how humanity and technology are intertwined to drive growth. In this encore interview, Chris makes the case that retail innovation isn't about replacing people with technology. It's about using AI and digital tools to strip out friction, empower associates, and build better member experiences. Technology serves the human, not the other way around.

Chris unpacks Sam's Club's nearly $90 billion membership-driven model and explains why the warehouse club sector keeps gaining momentum worldwide. He goes deep on the "club of the future" strategy — including the closely watched Grapevine, Texas location with computer vision-powered exits, Scan & Go checkout, AI-enabled shopping, and a radically redesigned store built around convenience, inspiration, and engagement. His core belief: consumers everywhere want the same things — value, convenience, innovation, and experiences that genuinely improve their lives.

Before the interview, the hosts break down a blockbuster earnings week. Walmart posts another massive quarter, adding a staggering $18 billion in quarterly revenue while investing aggressively in price to hold share against inflation. Target delivers one of its strongest quarters in years, a sign its turnaround may finally be gaining traction. TJX proves resilient yet again as off-price rides the consumer "stampede to value." Home Depot and Lowe's, meanwhile, keep struggling in a sluggish housing and renovation market as higher rates squeeze big-ticket spending.

The episode closes with Shein's surprising acquisition of Everlane — which Steve calls "where irony goes to die," given Everlane's brand built on radical transparency. Steve and Michael also dig into rising bond yields and the broader implications of AI legislation and the growing political clout of major technology investors like Andreessen Horowitz.

Registration is open for a special webinar featuring Steve in conversation with Placer AI's Head of Analytical Research RJ Hottovy. From changing shopping patterns to emerging market opportunities, shifting consumer demand continues to reshape the industry. So don't miss this data-driven session unpacking the most important trends defining today’s marketplace and the strategies leading brands are using to win retail's future. It's all brought to you by Placer.AI and It all happens on Tuesday September 29 at 1pm ET..

Register here today:

https://www.placer.ai/discover-events/discover-shifting-consumer-demand

About Us

Steve Dennis is a strategic advisor and keynote speaker focused on growth and innovation, who has also been named one of the world's top retail influencers. He is the bestselling author of two books: Leaders Leap: Transforming Your Company at the Speed of Disruption and Remarkable Retail: How To Win & Keep Customers in the Age of Disruption. Steve regularly shares his insights in his role as a Forbes senior retail contributor and on social media.

Michael LeBlanc is a senior retail advisor, keynote speaker and media entrepreneur. Michael has delivered keynotes, hosted fire-side discussions hosted senior retail executive on-stage in 1:1 interviews worldwide. Michael produces and hosts a network of leading retail trade podcasts, including The Remarkable Retail Podcast, The Voice of Retail, The Food Professor, The FEED powered by Loblaw and the Global eCommerce Leaders podcast. He has been recognized by the NRF as a global Top Retail Voice for 2025 and 2026 and continues to be a ReThink Retail Top Retail Expert for the fifth year in a row.

In Episode 302 of The Remarkable Retail Podcast, Steve Dennis and Michael LeBlanc sit down with Eric Sadi, Co-President, North America at Simon Property Group, for a long-overdue conversation on what the modern mall has actually become—and why the obituaries keep aging badly.

Eric walks through Simon's reimagination strategy: replacing tired anchor boxes with mixed-use destinations that braid together dining, entertainment, fitness, hospitality, and even residential living. He explains why occupancy at the top of the portfolio sits above 96%, why rents and tenant sales keep climbing, and why human connection, discovery, and community still drive the consumer behaviour the algorithms can't replicate. The "third place" isn't a slogan—it's a deliberate redesign of what a shopping center is for.

The conversation also takes on the most misunderstood narrative in retail: why Walmart, Target, Apple, and a new generation of experiential brands keep pouring billions into stores when so much of the growth lives online. The short answer? Stores aren't just sales channels anymore. They're infrastructure, media, and community. The "stores are dying" story is one of the laziest media frames in the business, and Steve and Michael take it apart.

Before the interview, the hosts unpack a packed news week: renewed inflation worries as fuel, transportation, and food costs climb again, and what that means for retailer margins; standout earnings from some of the most remarkable performers in the business, including Simon's continued strength, On Running's expanding margins and rising cultural heat, and The RealReal's case that luxury resale is one of the fastest-growing corners of fashion. They also weigh in on GameStop's bid for eBay—and eBay's flat rejection—a strong candidate for dumbest story of the year. Plus Amazon's latest AI moves and what they signal about where the platform wars are headed.

The episode closes with Steve wondering whether rising fuel costs will drive more online sales and Michael's specialty grocery discoveries in Los Angeles: Laurel Supply, Gonzalez Northgate Market, and the much-anticipated arrival of T&T.

Registration is open for a special webinar featuring Steve in conversation with Placer AI's Head of Analytical Research RJ Hottovy. From changing shopping patterns to emerging market opportunities, shifting consumer demand continues to reshape the industry. So don't miss this data-driven session unpacking the most important trends defining today’s marketplace and the strategies leading brands are using to win retail's future. It's all brought to you by Placer.AI and It all happens on Tuesday September 29 at 1pm ET..

Register here today:

https://www.placer.ai/discover-events/discover-shifting-consumer-demand

About Us

Steve Dennis is a strategic advisor and keynote speaker focused on growth and innovation, who has also been named one of the world's top retail influencers. He is the bestselling author of two books: Leaders Leap: Transforming Your Company at the Speed of Disruption and Remarkable Retail: How To Win & Keep Customers in the Age of Disruption. Steve regularly shares his insights in his role as a Forbes senior retail contributor and on social media.

Michael LeBlanc is a senior retail advisor, keynote speaker and media entrepreneur. Michael has delivered keynotes, hosted fire-side discussions hosted senior retail executive on-stage in 1:1 interviews worldwide. Michael produces and hosts a network of leading retail trade podcasts, including The Remarkable Retail Podcast, The Voice of Retail, The Food Professor, The FEED powered by Loblaw and the Global eCommerce Leaders podcast. He has been recognized by the NRF as a global Top Retail Voice for 2025 and 2026 and continues to be a ReThink Retail Top Retail Expert for the fifth year in a row.