Leah D Stout’s Post

On Sunday, Macy's will have a new CEO when Tony Spring takes the reins from Jeff Gennette. The blunt truth is that Mr Spring will inherit a business that has a lot of problems and lacks a coherent plan to tackle them. He can take Macy’s in one of two directions. He can break with the past and really start to refashion Macy’s into a retailer that meets the needs of modern consumers. This includes investing in the basics of retail and ensuring that good standards are adhered to, especially in stores. Alternatively, he can carry forward the policy of gentle iteration and partial tinkering around the edges which, ultimately, will result in the continued decline of the iconic chain. While Mr Spring is a Macy’s insider, he has had a lot of success in heading up Bloomingdale's, so there is at least a glimmer of hope that he will bring some new thinking. Mr Spring will also need to deal with mounting chatter from Arkhouse, which is pressing for Macy’s to open talks. On this front, he needs to set out a very clear and compelling vision to investors so it’s patently clear why the Arkhouse bid should be dismissed. Failure to do this will lead to more pressure from activists. As if all these things weren't challenging enough, Mr Spring also starts his tenure at a time when consumer spend on discretionary goods is pressured and finicky. This makes his job a bit like running up a down escalator that is on super-speed mode. Good luck, Mr Spring! More of my views in the Retail Dive article linked in the comments. #departmentstores #Macys #retail #retailnews #leadership

Jeff is coming right into the hot seat. If anyone can build a team that can figure our their long term solution - Jeff can. I don’t think is another candidate that could do a better job. But make no mistake - the Macy’s strategy must look very different. The 2 opportunities I see is revolutionizing their e-commerce business which is already in top 10 sites along with amazon, Walmart,, Etsy, E-bay. Target etc. Hire a little AI team to leverage that technology. And, second opportunity are rolling out the much smaller almost large boutique stores in key locations but assortments must be tailored to that customer base. The other thing is these smaller stores can elevate the brand image because they will be new - with Jeff’s luxury brand connections perhaps there could be some story telling around that. Great luck Macy's @jeffgennette

In June of 2000, the combative Durk Jager resigned as CEO of Procter & Gamble after a tenure that had lasted only seventeen months. When he left P&G, its stock had declined 50 percent, it had lost $320 million in the most recent quarter, half of its brands were losing market share, and the firm was struggling with morale problems. Jager was replaced by a quiet and thoughtful P&G veteran named A.G. Lafley. Although Jager had questioned the competence of many P&G employees, Lafley immediately assured them that he knew they were capable of restoring the marketing powerhouse to its former greatness. Lafley’s long career in marketing had taught him how to glean insights by listening to P&G’s customers. Now he sought to do the same by listening to P&G’s employees. Lafley turned to Jim Stengel, heir apparent to the chief marketing officer, and asked him to conduct a survey to find out what employees thought should be done. Although senior managers were considering several new business initiatives at the time, P&G’s employees felt something different was needed. They wanted a renewed commitment to marketing, more time to listen to customers, the results of programs to determine rewards rather than the quantity of programs launched and more disciplined market planning. After P&G implemented employee suggestions, the number of employees who strongly agreed with the statement “We’re on the right track to deliver business results” soared from 18 percent to 49 percent in just twelve months. And in a little more than two years after taking over from Jager, Lafley restored P&G to profitability. Lafley turned P&G around in part because he increased the cultural element I describe as voice. The expanded term for this element is knowledge flow. Since leaders who increase knowledge flow within their organizations benefit from it and those who don’t risk failure, you might ask what you can do to ensure that knowledge flow is maximized in your company. There are three steps that I recommend for increasing knowledge flow. You can read about them here: https://buff.ly/3RqRrzr How do you promote knowledge flow in your organization? #Communication #Listening #Leadership #ConnectionCulture #TurnaroundStories

Thanks for this great advice! If you're going to #PACKEXPOLasVegas next month check out these tips and add Booth 7360 if you use compressed air!

👗 Marks and Spencer: 5 Interesting Tidbits!   From its beginnings to its current global status, Marks & Spencer holds a collection of intriguing facts.   Explore five of these interesting details below...    Know more Marks & Spencer facts? Share them down below 💬   #MandSInsights #FashionDiscoveries #RetailFacts #MandSRevealed #RetailGems #MandSSpotlight #FashionInsight #RetailInsights

📱 New Marks and Spencer leadership appointments reflect the importance of digital and technology — Retail Technology ... - Retail Technology Innovation Hub #digital #technology #NewMarksandSpencer #RetailTechnologyInnovationHub

"Regeneration and resiliency will remain crucial (in the future of sourcing). While we’ll always be a global business, local sourcing in all markets where we have stores remains important because it allows us to react quickly to customer needs." In our latest #CPOSpotlight, Rupert Gaster spoke with Andrea Albright, Executive Vice President - Sourcing at Walmart about her distinct leadership style, sustainability and more. Read the full article 👇 #procurementinsights #sustainability #sourcing #WalmartSourcing

P O L L - R E S U L T 📊 Off the back of Marks and Spencer's CEO announcing a mandatory 7 days per year 'back to the shop floor' time for all office-based teams (including execs), we asked how many other organisations do something similar... Interesting, the result suggests this is a practice already quite widely employed elsewhere 👇 #employeeexperience #leadingbyexample #leadershipdevelopment

📘 Stick to the Basics 📘 In an earlier post, I touched on my morning routine, which revolves around watching financial news on Squawk Box and diving into financial literature. Over the past 15 years, I've gleaned invaluable insights from these sources. One story that stands out is Ron Johnson's tenure at JC Penney. For those who don't know who Ron Johnson is, he is known for his success in shaping Apple's iconic retail stores and transforming Target's retail image. When he joined JC Penney as CEO, the whole financial market had very high expectations. I remember wondering what kind of new impact he would bring to the retail space. However, his approach of eliminating sales pricing strategies and disregarding the brand's core identity that resulted in his departure within 18 months. 📉 So, why does this matter? 🤔 Looking back, it's easy to pinpoint mistakes. But the real lesson for anyone managing a product or investing in a business transformation is fundamental: Success in one context doesn't guarantee success in another. It's essential to understand what makes your organization and brand unique. Key takeaways: Know Your Brand: Understand why customers come to you and why they stay. Build a Moat: Anticipate challenges and strengthen your defenses. Embrace the Basics: Sometimes, small, seemingly mundane changes can drive the most significant revenue and profit gains. Remember, adapting strategies to fit your unique context is crucial. It’s not just about change, it’s about the right change to test and learn from. #BusinessStrategy #Leadership #Transformation #CustomerExperience #ProductInnovation #LinkedInCommunity #ThoughtLeadership

Matt Parry - The Future Collective® the issues within the retail sector are multi-faceted, requiring changes in leadership, strategy, and fundamentals. Leadership should cultivate a culture of innovation, empathy, and resilience. Strategy should adapt to market shifts, including leveraging technology for analytics and customer experience. Fundamentally, a change in organizational mindset towards adaptability and continuous learning may be necessary. In a highly competitive and fast-changing environment like retail, an integrated approach that addresses leadership, strategy, and organizational culture would be most effective in instigating meaningful change.. Jacques 🙂