Apparel Online Bangladesh Magazine May'17 | Page 38

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Retailers to see drop in sales , predict reports

RBC Capital Markets has predicted slow growth rate for US retailers this year . According to the report , Ascena Retail Group which owns Lane Bryant , Ann Taylor , Dress Barn , and Catherines are likely to face 49 per cent decrease in growth rate .
An 11 per cent decrease in revenue growth for next year has also been predicted for Under Armour , the American sports clothing and accessories company . This is expected in view of consumer ’ s decreasing interest in athleisure . According to RBC analysts , yoga-inspired apparel athletic company Lululemon Athletica ’ s growth rate can also drop by 5 per cent . A 6 per cent decline in sales growth for this fiscal year for Coach is also expected .
The increasing popularity of online shopping has also hit the retailers hard as consumers are opting to shop on e-commerce sites over brick-and-mortar stores , resulting in reduced traffic in stores . Fitch Ratings has also stated that the augmented number of discounted retailers has given a blow to more traditional and single-brand brickand-mortar retailers .

Sears Canada undergoes complete retail reinvention

Canadian retailer , Sears is going through a period of absolute renovation , spanning through modern customer experiences systems , a redesigned e-commerce platform , new concept stores , and a new manifesto of customer service values that aim to capture as well as sustain brand loyalty .
Brandon G . Stranzl , Executive Chairman of Sears
Canada elaborated on the initiatives stating , “ 2017 is the year for change and reinvention at Sears Canada . We started on our reinvention path last year when we focused on a dramatic refinement to our product selection , to achieve a simple value proposition for consumers – high quality at a low price , and our Sears label essentials and The Cut @ Sears
achieves this in a big way . We have also overhauled our customer experience online and in-store as we commit to providing Canadians the best shopping experience possible .”
Sears has opened a pop-up shop in Toronto ’ s modish neighbourhood of Queen West where they will highlight the company ’ s hottest merchandise , together with the
all-new private-label products as well as the off-price offering , making them the first nationwide retailer in Canada , to display both key retail approaches all in a single store . The pop-up shop opened on April 8 with the marketing tag of # WeveCHANGED . “ We ’ re using # WeveCHANGED as our moniker to attract new consumers and engage Canadians in our new customerobsessed approach without preconceptions . We ’ re re-introducing ourselves with new products , enhanced customer experiences , and a re-imagined philosophy of quality , on-trend merchandise at great prices ,” explained Stranzl .
Sears Canada is looking to coagulate their position as Canada ’ s go-to retailer for everyone ’ s every need with the launch of a mono-brand private label . The new line will be high on quality providing essentials at affordable prices for men ’ s , women ’ s and kid ’ s clothing , home décor as well as houseware items .
38 Apparel Online Bangladesh | MAY 2017 | www . apparelresources . com