This past week was a busy with updates from across the retail industry. Below, we've highlighted some of the key themes that became apparent, followed by additional analysis.
Some favorite gifts for mom include chocolates, candy, bath products, lotions, and jewelry. But which category is most dependent on holidays and which gained the most on Mother's Day?
As American palates have become more adventurous and interest in regional cuisines has exploded, more authentic flavors - Sichuan, Oaxacan, or Neopolitan are taking center stage.
This week, LensCrafters, America’s Best, and Warby Parker all reported a better start to 2023 after 2022 had been a difficult year due to comparisons to a large pull-forward of demand during 2021.
In its Q1 2023 earnings Dillard's reported a -4% comparable-store sales decline and -170 basis points of gross margin pressure. Visit data shows a softer second half of Q1 2023 on a YoY basis.
thredUP – the online resale/circular service provider for brands like REI, Patagonia, and others – reported an improved trajectory in its business and raised its guidance for the year.
Grocery Outlet reported strong Q1 2023 results this past week as consumers continue to seek out value. Comparable-store sales increased +12.1%, building upon last year’s +5.2%.
We take a look at some lifestyle brands that are gaining customer loyalty by simultaneously offering retail, dining, classes, and old-fashioned opportunities to socialize with others in person.
AMC and Cinemark’s first quarter updates point to ongoing recovery at the box office. AMC’s attendance improved to 59% of 2019’s level and Cinemark's improved to 65% of 2019's level.
Q1 2023 updates for Cedar Fair/Six Flags, SeaWorld, Universal Studios, and Disney demonstrated that the industry’s recovery from the pandemic was solid in Q1, despite adverse weather.
We review key updates from the restaurant industry. It's clear that lower and middle-income consumers are fighting the impact of inflation while business travelers boost fine dining visits.
With Estée Lauder once again reporting weak business results, we decided to once again look at how the retailers that service this consumer category have fared recently.
On its Q1 2023 update call Sprouts CEO stated that traffic was improving and that has led to management’s growing expectations for Q2 2023 amid the high inflationary environment.
Hispanic grocery stores have increased at a rapid pace across the nation. Many of these chains are performing admirably, including California-based Vallarta Supermarket.
Q1 2023 earnings reports from different segments of travel and in-person experiences indicate that the remainder of the year should see a pre-pandemic normalized rate.
U.S. light vehicle sales came in stronger than expected with a seasonally adjusted annualized rate (SAAR) of about 16.2M in April, up from 14.8M level in March and representing an increase of +12% YoY.
While c-store and gas station visits were able to initially shake off the shock of gas price inflation in the first half of 2022, visitation so far in 2023 stagnated compared to other staple retail categories.
The top wireless and cable providers reported Q1 results which showed the success that T-Mobile is enjoying in rural and suburban areas, which is achieved by a new retail presence.
With Arbor Day on April 28, we thought we’d take a look at how home improvement is shaping up for the spring. Despite the strong start, 2023 is likely to be a year of moderation in demand.
As historic traffic increases to food banks is garnering attention, how does the trend fit into the overall macro dynamics of consumers searching for value in retail and specifically the discount category.
Last week, we looked at some macrotrends in return to office. This week, we’ll look at the impact of hybrid work on specific office buildings and working patterns as well as on gyms.
There’s been a lot of news around the internal combustion engine (ICE) to electric vehicle (EV) transition, including Tesla’s charge that they are going all in on unit market share.
The shift to value grocery formats is continuing in 2023 and something that conventional and small-format specialty grocers have to be concerned with as these brands win share-of-stomach.
Albertsons Companies (ACI) reported Q4 2022 results and noted investment in a frictionless omnichannel experience, differentiated store experience, and modernizing operational capabilities.
Ikea announced its biggest-ever investment in the U.S. this past week, committing more than $2 billion into store expansion which will increase the number of US stores by a third.
Nationwide, return-to-office is up +5% YoY as of March 2023. However, to provide some context to how office visits fared pre-pandemic, we looked at four years prior.
We take a closer look at the thrift store category and find that, similar to other discount apparel retailers, “value” is in “style” as consumers stretch their dollars in the face of high food inflation.
LVMH’s Q1 2023 results revealed that the U.S. luxury consumer is still traveling abroad and the foreign luxury tourist has yet to arrive. Management also reported a slowdown for Fashion & Leather and Jewelry.
Historically, consumers pull back on visits to coffee chains during tough economic times. How does coffee chain visitation compare to the rest of the restaurant industry?
We take a look at the location analytics for the top-performing malls in the Bay Area, Southern California, Seattle and Dallas. Plus, the prevailing trends that are driving foot traffic.
We take a look at quarterly movie theater visitation metrics in light of the latest blockbuster openings. Content from the biggest studios ramps up to drive exhibitor traffic.
At Walmart's 2023 Investment Community Meeting the prevailing message was that the foundation and investments are in place to capture market share and expand margins.
Costco's softer-than-expected March sales may be partly explained by multiple years of big gains. Can Sam's Club drive market share gains in Costco's biggest market?
L’Oreal’s agreement to buy Australian luxury cosmetics brand and retailer Aesop for $2.5B is the latest development in what has been one of the more active categories in the consumer sector.
As Extra Space Storage looks to become the largest US self-storage company, visitation trends for the category remain ahead of pre-pandemic levels, but have begun to moderate.
March Retail Sales from the Census Bureau will be reported next week, and we expect another slower month due in part to large pull-forward into January and high inflation in grocery.
2022 was a soft year for the eyewear retail industry as there was a significant pull-forward into 2021 as the result of excess consumer liquidity stemming from the stimulus checks.
Fast fashion brands are facing downward pressure on sales from their financially strapped younger consumer base. We dive into three brands – H&M, Zara, and Shein – for a closer look.
We summarize the key themes that retailers, restaurants, commercial real estate executives, and investors should be aware of as we continue to look to the rest of 2023.
Placer.ai data indicates Ollie’s Army showed up during the holidays and into early 2023; in contrast, traffic was challenged for Big Lots. We take a look at the outlook for these retailers.
Foot Locker's incoming CEO Mary Dillon presented her vision for Foot Locker during a Capital Markets Day (CMD) event. She hopes to restore the brand to sustained growth with stronger margins and returns.
During Nike's fiscal Q3 2023 earnings report CEO John Donahoe stated, that the brand is on track to get inventory into a healthy position and deliver revenue consistent with its goals.
Exploring quarterly results from footwear brands On Running, adidas, and Allbirds. While revenue was up for On Running, adidas and Allbirds face challenges as well as opportunities for growth.
In last week’s Anchor, we noted how outlet malls were experiencing recent headwinds. This week we dive deeper into our analysis of outlet mall trends on the category and property levels.
The EV transition is picking up momentum via the reshoring of the industry’s supply chain. During 2023 and 2024, we expect brands to double-down on explaining their proposition to consumers.
Dollar General reported solid Q4 2022 sales and earnings growth with comparable-store increases of +5.7%. Management is pleased with market share gains in both consumables and non-consumables.
Q4 2022 updates for off-price retailers reaffirmed many past themes including the the importance of “value” and “surprise and delight” merchandise as well as physical stores.
Q4 2022 results for specialty apparel retailers were mixed with those catering to the more affluent and associated with wear-to-work wear outperforming on sales and profitability.
2022 was a tough year for home furnishing retailers, but the start of 2023 saw the category narrow the gap with other discretionary retail categories and benefit from inventory clearance events.
We analyzed visitation metrics for breweries, sports bars, and pubs to understand how consumers are embracing out-of-home experiences and getting together with friends.
Grocery-anchored centers proved to be the most resilient during Covid and remain a steady source of foot traffic. These centers are some of the best-performing malls in 2023.
With Dick’s Sporting Goods Q4 2022 update this week, we revisit some of our previous analysis on the chain and trends in the broader sporting goods retail category for the long-term.
Ulta’s Q4 2022 confirmed the durability of the beauty category as a whole, and supported the idea that consumers are returning to the office, events, and other social activities.
Fiscal Q4 2022 was a disruptive period for department stores. Tailwinds were few and headwinds – substantial, impacting the end of year results for Macy's, Dillard's, Kohl's and Nordstrom.
Grocery Outlet and Sprouts Farmers Market reported positive Q4 2022 updates and both companies are seeking to accelerate openings of new locations and markets in 2023 and 2024.
March celebrates Women’s History Month, and thus we are turning attention to female entrepreneurs who have created iconic brands that we see in retail and dining.
Updates from Kroger's Q4 2022 update including the impact of food inflation, wage investments, and order fulfillment channels. Additionally, the Albertsons merger remains on track.
Target's Q4 2022 update reported clean inventories and the continued success of the Ulta Beauty partnership. Target's December visitation momentum carried well into the new year.
On its Q4 2022 earnings release, Dollar Tree’s new CEO Rick Dreiling noted the positive direction of the chain and his ambition to drive further store productivity and accelerated growth.
Auto parts retail enters 2023 at a continued high pace as miles driven, the increasing age of vehicles on the road, high used car prices, and plentiful jobs continue to drive demand.
Barnes & Noble's strong foot traffic goes hand in hand with the chain's announcement that it will increase its physical footprint in 2023. We reviewed the recent visit trends in the book retail category.
Major media companies and movie studios are pivoting their priorities from solely streaming to giving more consideration to the theatrical window and the exhibition industry.
As inflation for groceries has remained higher and for longer than management expected, the double-digit rate is depressing sales of Walmart’s discretionary merchandise, which carry higher margins.
On its Q4 2022 update The Home Depot called for a “year of moderation in demand for home improvement”, citing an increase in price sensitivity and the ongoing shift away from goods to services.
The last few years have driven increased demand in self-storage as more people worked from home and migrated to other parts of the country and businesses reassessed their real estate needs.
Golf was one of the sports that saw a resurgence during Covid-19 as people sought out amply spaced outdoor activities. And golf course foot traffic has remained relatively resilient.
L'Oréal reported an exquisite Q4 2022 and its outlook for 2023 implies ongoing outsized growth for the beauty category and its retail partners. Beauty, especially prestige beauty, is one of the most durable growth categories of consumer spending.
2023 is shaping up to be the year where restaurants and retailers look to take the learnings from the past several years and maximize returns on their physical store assets.
With Valentine’s Day this past week, sweets, flowers, cards, and jewelry purchases immediately come to mind. And indeed these categories saw a spike in foot traffic around the holiday.
The results from Airbnb and Expedia demonstrate that the 1H 2023 is going to be a bountiful period for travel and tourism. Both companies stated that demand, in the form of bookings, remains high.
Bob Iger first became CEO in 2005 and his return is a chance for him to “course correct” some of Disney’s approaches and priorities, mainly the streaming and theme parks businesses.
Toyota has reconsidered its approach to the internal combustion engine and is now embracing EV, accelerating development of parts and manufacturing methods optmized for electric vehicles.
With Cava and other dining chains looking towards potential initial public offerings, this marks the most activity for restaurants looking to tap the public equity markets for funding since 2H 2021.
Numerous news articles have begun to circulate about grocers looking to prevent shoppers from turning to discount stores as well as concerted effort to sharpen the value of their private brands.
JD Sports hosted a “capital markets day” where they provided an update on the brand's business strategy. This includes an acceleration of store openings and conversions.
HOKA brand sales increased +$225M YoY (or +$1B annualized) during the company's December-end quarter, and the brand has a good chance of nearing $2.8B in retail sales this year.
VF's divisional details show The North Face holding onto growth, while Vans continues to falter with sales down -13% in the U.S. This is a trend that is expected to continue in the near term.
In December, Under Armour announced Stephanie Linnaritz as its new President, CEO, and board member effective at the end of the month. She is also a member of Home Depot's board.
Weaker December-quarter results and 2023 guidance sent Capri Holdings stock price down -30%. Chairman and CEO John Idol: “Our performance in the third quarter was more challenging than anticipated."
Las Vegas shopping destinations are back in full force in Q1 2023. The outlook for 2023 is trending positive as we saw an uptick in YoY shopping center foot traffic in January 2023.
We dive into gas station chains and examine what they might reveal about the current state of the consumer. Similar to other retail categories, value is top of mind at the pump.
McDonald’s Q4 2022 update this week reinforced some of the ways brands are finding to navigate the inflationary environment – its effective loyalty program and other marketing strategies.
Premium-plus spirits have experienced little to no downtrading despite inflation and concerns about the economy. And industry data for spirits shows that out-of-home revenue growth was ahead of at-home growth.
With Placer.ai’s new Shopping Center Benchmark function, CRE executives are able to look at shopping centers based on their categorization and filter based on additional metrics including visitors, visits/sq ft, visit frequency, and average dwell time.
February ushers in the beginning of Black History Month, which gives us an opportunity to look at various locations and brands in the US that celebrate the history and accomplishments of Black Americans.
Early 2023 trends for non-discretionary retail categories show that macroeconomic headwinds continue to weigh on consumers. But some categories have already posted year-over-year visitation growth.
Primark's comparable-store sales were down modestly for its most recent quarter (Oct. 14-Jan. 7) in which it opened four new locations. Placer.ai data indicates visits per location decreased by 4%.
Sears was once the largest retailer in the U.S. and operated throughout the country. When it filed for bankruptcy in 2018 it began selling off locations, some of which have exploded with foot traffic.
Opportunity for luxury retail exists in luxury resale, which is often seen as the gateway to customers purchasing full price as they trade up or become more familiar with a brand.
All of the top 5 busiest airports in the US saw increased travel in Sept 2022 compared to the previous year, with the past six months being particularly promising for LAX.
Overall visits to Universal Parks by domestic guests were down about 5% for Q4 2022 compared to Q4 2021. Universal's California parks produced a robust YoY increase, while Florida posted a decline.
Tesla reported better-than-feared Q4 2022 results this week. However, the "new" news was CEO Elon Musk reporting that reaching 2M units in production and sales was an achievable stretch goal for 2023.
In-N-Out Burger’s announcement that it plans to open stores in Tennessee by 2026 as well as an Eastern U.S. territory office could have major implications across the QSR and CRE categories.
This year we will be highlighting retailers that are expanding and that produce very strong unit economics and traffic. This week’s name is Altar’d State which is expanding at roughly 20 new locations per year.
On Jan. 22, more than a billion people globally celebrated the Lunar New Year. In honor of the occasion, we've taken a look at how Asian brands are impacting CRE in the U.S. this week.
On the whole, the restaurant chains presenting at this week’s ICR Conference were fairly optimistic about 2023 plans but also acknowledged that inflation is still an unknown heading into the year.
Workers returning to the office, on a general basis, has the opportunity to fuel wardrobe upgrades, career wear, and visitation to stores in regions where offices are abundant.
For decades, Victoria’s Secret was the undisputed queen in the lingerie category. However, newer brick-and-mortar entrants such as Aerie have begun to carve into Victoria's Secret's market share.
We looked at three Boot Barn locations varying from California to Texas to North Dakota, and it proved customers can’t get enough Western Wear, especially as a Christmas gift under the tree.