2024 Retail Predictions Unpacked (Part 2)

This week on the Remarkable Retail podcast, Michael LeBlanc and Steve Dennis unpack the retail news shaping the global economy—from the Iran war's impact on oil, freight and food prices to Kohl's disappointing earnings, Dick's Sporting Goods' continued growth, and another wave of store closings at Saks Global. The episode opens with the week's major macro headlines. The ongoing Iran war is pushing oil prices higher and raising concerns about fuel, transportation and food inflation. The hosts explore how disruptions in the Strait of Hormuz could impact shipping routes, air freight and fertilizer supply—factors that may squeeze consumer spending in the months ahead. On earnings: Kohl's continues to struggle with declining comparable sales and a lack of clear differentiation in the mid-market department store segment. Dick's Sporting Goods delivered stronger results, with experiential concepts like House of Sport driving growth—even as its newly acquired Foot Locker business faces headwinds. Meanwhile, Saks Global's restructuring rolls on with additional closures across both Saks Fifth Avenue and Neiman Marcus locations. The centrepiece is an in-depth conversation with James Daunt, CEO of Barnes & Noble and Waterstones. Daunt shares the unconventional philosophy behind Barnes & Noble's turnaround: rather than relying on centralized merchandising and publisher-driven promotions, he empowered individual store teams to curate their own assortments and engage directly with local communities. The strategy—anchored by investments in store infrastructure, technology, distribution and higher bookseller wages—has the company opening roughly 60 new stores a year while continuing to modernize older locations. The episode closes with the hosts' "Remarkable Stories of the Week": the rise of value brand Quince, Nestlé's sale of Blue Bottle Coffee, and a discussion of tariffs, supply chains and New York's proposed minimum wage increase. About UsSteve 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 2025 and continues to be a ReThink Retail Top Retail Expert for the fifth year in a row.  

In this wide-ranging episode Steve Dennis and Michael LeBlanc are joined by special guest co-host Kevin Ertell, retail veteran, former Nike executive, and author of The Strategy Trap. The episode blends breaking retail news with a live interview recorded at the NRF Big Show featuring Malin Andrée, Global Retail Sector Leader at EY, and Jon Copestake, Global Lead Retail Analyst at EY Insights. The episode begins with an analysis of one of the most significant geopolitical developments impacting the global economy: the escalating Iran war and its ripple effects on retail markets. Rising oil prices and potential disruptions through the Strait of Hormuz threaten to increase shipping costs and add new uncertainty to global supply chains. The hosts also dive into the latest retail earnings reports, highlighting challenges and future opportunities under new leadership at Target, mixed performance at Gap and continued momentum from Costco. They also examine the rapid growth of athletic brand On, whose strong sales growth contrasts with cautious forward guidance, and discuss what it signals about competition with legacy players like Nike with Kevin's expert and experienced analysis. The episode then shifts to a fascinating interview with Malin Andrée, EY Partner, Global Retail Industry Leader and Jon Copestake Global Lead Retail Analyst, EY Insights, who share insights from EY’s latest consumer research and industry analysis. Their discussion explores the changing dynamics of luxury retail, including growing consumer interest in resale and second-hand luxury markets, which are being driven by affordability concerns, sustainability awareness and improved authentication platforms. Andrée and Copestake also address the accelerating role of retail AIl, from operational improvements to emerging consumer-facing applications such as AI-driven product discovery and shopping assistance. While AI investment is surging across the industry, they emphasize the importance of balancing technology with human-centered retail experiences, arguing that the human touch will remain a key differentiator even as AI capabilities become table stakes. The episode concludes with the hosts’ Remarkable Story of the Week and What’s on the Radar segments, including discussions about Simon Property Group’s strategic maneuvering around the Saks Global bankruptcy and Walmart’s rollout of digital shelf labels across its stores. About UsSteve 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 2025 and continues to be a ReThink Retail Top Retail Expert for the fifth year in a row.  

Steve Dennis and Michael LeBlanc preview their upcoming ShopTalk “Retail Rumble” appearance before diving into a wide-ranging and timely discussion on what leaders still get wrong about modern retail The episode opens with a sharp analysis of tariff turmoil following a Supreme Court ruling and mounting legal battles, as over 1,800 companies seek refunds. The hosts explore the implications of economic uncertainty for retailers already facing cautious consumer behavior. Recent earnings from TJX, Home Depot, and Lowe’s suggest slowing momentum, with “flat” increasingly feeling like the new “up.” Meanwhile, Warby Parker continues its profitability progress, signaling that digitally native brands can mature successfully when they prioritize focus and operational discipline. Saks Global also makes progress on their journey through bankruptcy court. The macro backdrop adds additional complexity. Nvidia’s staggering $120 billion in profits underscores the scale of AI’s economic impact. At the same time, declining U.S. net migration could create headwinds for retail growth, given that roughly 1% of annual retail expansion typically comes from population growth. Mortgage rates dipping below 6% could offer stimulus to home-related categories. The discussion then pivots to a deeper strategic issue: how retailers need to adapt to an increasingly complex and demanding world. Steve highlights a striking insight from Walmart’s earnings—while overall sales and e-commerce are surging, brick-and-mortar sales appear to be declining. This raises a fundamental question: are retailers measuring success correctly in a world where digital and physical channels are deeply intertwined and taking the bold action they must. About UsSteve 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 2025 and continues to be a ReThink Retail Top Retail Expert for the fifth year in a row.  

Recorded live in the Narvar Podcast Studio at NRF Big Show, Steve Dennis and Michael LeBlanc sit down with Dan Frommer, the iconic tech journalist and Founder of The New Consumer, to explore the forces reshaping retail and consumer behavior. Frommer challenges the prevailing “vibecession” narrative, arguing that despite low consumer sentiment readings, spending remains resilient. Drawing on proprietary survey data from 3,000 U.S. consumers, he outlines a nuanced picture: younger consumers are increasingly digital-first, deeply connected to creator culture, and entering their peak earning and spending years. Millennials show the highest trust in AI, while Gen Z is more skeptical about automation’s impact on work and identity. GLP-1 medications are seen as a game changer, driving shifts in spending. Health and longevity also take center stage, with more than 40% of Gen Z and Millennials in “health optimization mode.” Frommer highlights TikTok Shop’s explosive rise as creator-led commerce flips marketing economics. In the news segment the hosts discussion how the Supreme Court’s IEEPA tariff ruling triggers chaos for retail. With up to 70% of tariffs affected, pricing and supply chain uncertainty now dominate. Retailers face refund confusion, volatility, and political storms. Walmart posts strong earnings but signals a slowing trend. Half of its e-commerce orders ship from stores, three-hour delivery reaches most Americans, and retail media surges ahead. Wayfair gains share in a struggling home market, but staying unprofitable raises tough questions. In the “Remarkable Story of the Week” of the week, Aritzia acquires Fred Segal’s intellectual property, as plans to resurrect the storied West Coast fashion retailer. On the radar: sneaker wars intensify as New Balance nears $10B in revenue and Nike navigates turnaround pressures at Converse. QVC also is reportedly mulling a Chapter 11 filing. Link to Dan's 2026 The New Consumer report here.  About UsSteve 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 2025 and continues to be a ReThink Retail Top Retail Expert for the fifth year in a row.  

The hosts take open a sweeping look at the week’s most consequential retail developments before heading live to the Narvar Podcast Studio at the NRF Big Show for a deep dive into AI, agentic commerce, and the evolving post-purchase customer journey.The news segment explores Saks Global’s decision to close nine full-line stores, underscoring ongoing consolidation in the luxury industry and challenges in multi-line retail. The hosts examine luxury’s continued bifurcation, with Kering struggling while Hermès thrives, reinforcing that luxe positioning alone isn’t enough — execution matters.In specialty retail, the “collapse of the unremarkable middle” continues as Toys “R” Us Canada, Francesca’s, and Eddie Bauer face significant retrenchment if not extinction, while Tractor Supply and Aritzia aggressively expand. Kroger appoints its first external CEO, Greg Boren, signaling operational rigor ahead, while Costco once again posts remarkable sales growth  Meanwhile, Target begins meaningful leadership restructuring — a foundational step in what is likely a multi-year turnaround. On the radar: AI-powered retail crime prevention at Bunnings and the imminent opening of the Gordie Howe International Bridge, a major infrastructure development for North American trade.The featured interview brings Henry Spear, SVP Digital North America, JD Sports, and David Morin, VP Customer Strategy for Narvar, to the mic for a timely discussion on agentic commerce and how leveraging product returns can create competitive differentiation. About UsSteve 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 2025 and continues to be a ReThink Retail Top Retail Expert for the fifth year in a row.  

In this episode of the Remarkable Retail podcast, Steve Dennis and Michael LeBlanc open with a sweeping look at the week’s most consequential retail developments before welcoming two global retail store visionaries for a deep dive into the future of brick-and-mortar locations.The news segment begins with a tale of two retail giants: Walmart reaching a historic $1 trillion market cap milestone, signaling sustained operational momentum, while Target faces leadership transition amid prolonged performance challenges. The hosts analyze what these divergent trajectories mean for mass retail strategy and investor expectations.Amazon’s earnings dominate the conversation next. With massive capital expenditures approaching $200 billion—tied to AI infrastructure and distribution expansion—the debate centers on whether this represents visionary investment or an overheated AI arms race. Retail growth remains robust across retail while the highly profitable advertising business is on fire. Recent while same-day grocery expansion is driving new growth with the potential to shake-up competitive dynamics.The discussion also highlights luxury bifurcation, with strong results from Ralph Lauren and Tapestry’s Coach brand contrasting broader sector volatility. Simon Property Group’s strong earnings prove the best malls are dead, as they also continue to make big investments in reinventing several of their properities.The second half of the episode shifts to an insightful, live conversation from NRF’s Big Show with Jack Stratten, Director of Insider Trends, and Kevin Ervin Kelley, Principal and Co-Founder of Shook Kelley and author of Irreplaceable. Together, they explore what makes modern stores not just functional—but truly remarkable. About UsSteve 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 2025 and continues to be a ReThink Retail Top Retail Expert for the fifth year in a row.  

The episode opens with a sweeping look at the biggest retail stories shaping January. Amazon dominates the headlines again, this time with the closure of all Amazon Fresh grocery and Go stores and a renewed reliance on Whole Foods and online grocery. At the same time, Amazon is laying off tens of thousands of employees, part of a broader wave of cuts across retail and adjacent industries, including UPS, Home Depot, and Nike. The hosts explore whether this is a post-pandemic correction, an AI-driven efficiency shift, or an early signal of bigger structural change.The news turns to Saks Global's bankruptcy, in which most Saks off-price stores will be shut down. This is expected to benefit rivals like Nordstrom Rack and Bloomingdale’s Outlet. Earnings signals offer a mixed outlook: LVMH posts weaker results, reinforcing concerns that luxury’s recovery will be uneven, while Starbucks shows early signs of traction with traffic growth and the return of tiered loyalty rewards.The second half features an energetic, insight-rich discussion with fellow NRF Top Voices Billy May, Brooklinen's CEO, and David J Katz, EVP and CMO, Randa Apparel, recorded live in the Narvar podcasting studio on the NRF Big Show show floor in New York. Together, they explore how consumer behavior is changing, why value is now deeply contextual, and how trust has become the most fragile currency in retail. They discuss pricing strategy in an era of tariffs, geopolitical risk, and algorithmic pricing, warning that transparency and clarity matter more than ever.The group dives into AI reality—what’s working, what’s hype, and why AI should be treated as a power tool, not a decision-maker. They examine leadership in the post-COVID era, arguing that execution, speed, and disciplined focus now define winning organizations. Don’t miss these rapid-fire takes on rising retailers and the future of the department store—listen now and join the conversation to stay ahead in retail’s next chapter.The conversation then shifts to the week’s remarkable stories. highlighting the staggering scale of AI investment, including Anthropic’s rumored $350 billion valuation and Amazon’s possible $50 billion stake in OpenAI. Michael reflects on growing wealth concentration in the U.S. and many developed countries, noting the economic and social implications. Looking around the corner, Steve unpacks TikTok’s shifting algorithms, political influence concerns, and TikTok Shop’s move to force sellers into its proprietary logistics network—changes that could reshape social commerce. About UsSteve 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 2025 and continues to be a ReThink Retail Top Retail Expert for the fifth year in a row.  

Steve Dennis and Michael LeBlanc kick off their annual predictions episode with a fast-moving review of the retail news of the week. They begin with the long-delayed U.S. TikTok deal finally reaching resolution, noting how deeply TikTok now influences product discovery, cultural trends, and transactional commerce through TikTok Shops. While the platform remains critical for retailers, both hosts raise concerns around privacy, political influence, and how algorithmic control may evolve under new ownership.The conversation then turns to tariff volatility and geopolitical uncertainty, highlighting how unpredictable trade policy continues to make planning difficult for retailers. Steve points out that Amazon is already seeing tariff-driven price increases creep into both its first-party and marketplace businesses, reinforcing how global policy decisions are now flowing directly into consumer pricing. They also discuss Gap’s creation of a Chief Entertainment Officer role, using it as a signal that retailers are increasingly seeking growth through media, licensing, and brand-driven content ecosystems rather than traditional merchandising alone.From there, Steve delivers his provocative 2026 retail predictions. He argues that the “Great Concentration” will continue, with Amazon, Walmart, and Costco capturing a disproportionate share of both sales growth and profits. This concentration fuels a powerful investment flywheel that makes it increasingly difficult for mid-tier retailers to compete. He predicts a mixed year for major turnarounds, with some traction at Gap and Nike, limited progress at Macy’s, and deeper structural challenges for Target.AI emerges as one of the most consequential themes, with Steve describing 2026 as a truly “agentic” year. Search, shopping, and discovery are rapidly shifting toward AI-driven experiences, creating massive innovation but also high risk of disintermediation for brands that fail to adapt. Physical stores, he argues, will matter more for experiential brands and less for undifferentiated ones, accelerating the bifurcation between meaningful store concepts and those that lack a clear role.Steve also predicts intensifying competition in last-mile delivery, as Amazon and Walmart push same-day and narrow delivery windows even further, especially in grocery and essentials. Luxury faces an uneven future, with Saks Global likely emerging from bankruptcy smaller and fragile, and growth concentrated among a few elite brands. Resale, however, finally appears poised for breakout momentum, driven by affordability pressures and improving business models across the sector. Wellness and longevity become a new growth frontier, extending far beyond groceries into subscriptions, services, and lifestyle ecosystems.The episode closes with their “remarkable” stories of the week and a look around the corner, led by Lululemon’s latest product misstep involving see-through apparel and a tone-deaf customer response. Michael highlights the promotion of former guest Chris Nicholas to lead Walmart International, while Steve flags growing bond-market volatility as a key macro signal to watch.   About UsSteve 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 2025 and continues to be a ReThink Retail Top Retail Expert for the fifth year in a row.  

Steve Dennis and Michael LeBlanc kick off this episode with a sharp breakdown of the retail news that mattered this past week. AI dominates the conversation—not as hype, but as a clear shift from experimentation to real-world implementation. Steve shares observations from the show floor, noting how retailers are racing to modernize product data, digital infrastructure, and site experiences to better capture the growing wave of AI-driven and agent-led shopping traffic.The conversation then turns to one of the most consequential stories in retail: the Saks Global bankruptcy. Steve provides deep context on the failed Saks–Neiman Marcus merger, the leadership shake-up, Amazon’s unexpected equity exposure, and the cascading impact on vendors—particularly smaller brands that may never be made whole. Early earnings and sales signals round out the news segment, with standout performances from Costco, American Eagle, and Five Below reinforcing a widening gap between retail’s winners and laggards. The hosts also discuss Walmart’s renewed push into drone delivery and the accelerating ripple effects of GLP-1 drugs, especially as pill-based options expand access and potentially reshape apparel and discretionary spending.From there, Steve and Michael are joined by Jessica Schinazi, CEO of Away for an engaging interview recorded live in the Narvar remote podcast studio on the floor at the NRF Big Show  Jessica reflects on her journey from LVMH, Amazon, and Dyson to leading one of the original digitally native vertical brands as it approaches its tenth anniversary. She shares why Away’s emotional connection with customers—paired with uncompromising product quality—has allowed the brand to endure while many early DTC peers have struggled.Jessica explains Away’s evolution into what she describes as a “DTC-smart” model: maintaining direct customer relationships while strategically expanding through wholesale partners such as Nordstrom, Amazon, and Dick’s Sporting Goods. Each channel plays a distinct role, from immersive storytelling in owned stores to trust-building through reviews and scale on marketplaces. The discussion also explores leadership in the AI era, with Jessica emphasizing resilience, curiosity, and the importance of using AI as a tool to elevate human work—not replace it.In the closing segments, the hosts revisits new details emerging from the Saks Global bankruptcy, and share what's on their radar screen, exploring labor market signals and leadership changes at Kendra Scott, the fast-growing jewelry brand. About UsSteve 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 2025 and continues to be a ReThink Retail Top Retail Expert for the fifth year in a row.  

Steve Dennis and Michael LeBlanc open the first episode of 2026 with a clear-eyed look at the retail news shaping the year ahead. Holiday sales landed largely as expected. Online sales grew faster, but at a decelerating pace, reinforcing the continued centrality of stores—particularly as click-and-collect represented a meaningful share of holiday fulfillment. The hosts also dig into sector-level performance, noting continued softness in big-ticket home categories alongside strength in apparel, beauty, and sporting goods.Attention then turns to structural stress in retail. The looming Chapter 11 filing of Saks Global underscores the limits of debt-heavy consolidation strategies and the difficulty of rationalizing oversized store portfolios. Steve outlines why store closures, vendor confidence, and new leadership will be critical to any successful reorganization. The news segment closes with a sobering look at U.S. job growth, which has slowed sharply, particularly in retail and manufacturing. While unemployment remains low, constrained labor supply and weak hiring momentum raise important questions for 2026.From there, the episode shifts to a wide-ranging discussion with The Analysts, this time featuring Simeon Siegel, Senior Managing Director at Guggenheim Partners, and Sucharita Kodali, Vice President and Principal Analyst at Forrester. Reflecting on 2025, both describe a year marked by cognitive dissonance: record retail spending alongside low consumer confidence and wildly uneven outcomes. Rather than a simple “K-shaped” economy, Simeon argues that execution matters most, pointing to stark performance differences between retailers selling similar products to similar customers.The Analysts explore where market share is truly shifting, why off-price and value leaders continue to gain ground, and how e-commerce growth is normalizing as the channel matures. Sucharita explains why physical retail remains resilient in the U.S., while Simeon adds that rising friction—fees, returns, and fulfillment costs—has dulled some of e-commerce’s original advantages. The conversation also tackles tariffs, AI, and technology hype. The episode concludes with Steve and Michael's perspectives on Amazon's surprising new physical retail stores plans and a possibly big Supreme Court ruling on tariff policy. About UsSteve 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 2025 and continues to be a ReThink Retail Top Retail Expert for the fifth year in a row.