-Mobile app was 8% of on-line sales.
-The little handheld on-the-floor sales devices were 6% of on-line sales.
-They considered the If You're Lucky line a big success: "Our guests responded very strongly to our storytelling, as well as the great performing feminine technical product that featured mesh panels, cutouts and beautiful prints."
- Global website redesign planned for later in the year
- West Coast port delays will extend into Q2. A meaningful portion of inventory was delayed up to three weeks and some even beyond that. It is affecting spring flows and even some winter ones.
- Tanks are the new focus: Posley said, "Q2 is about tackling the tank wall. You are going to see a better balance of support options in the tank which has really been lacking. So we're adding four new styles with medium support and then by Q3, we will be adding a full support tank.
So also not only addressing the technical piece of the tank, we're going to be addressing the beauty and we have always owned exquisite designs in our tank wall and we're aggressively returning to those roots. From an innovation standpoint, you will see more innovation in tanks as we move into 2016." I cannot wait for more tanks. The tank selection has been horrifically thin for far too long.
- Similar level of markdowns as this time last year.
- More markdown events will be coming, per the CFO: "We may opportunistically run some markdown activities to take advantage of our inventory position and more recently, we actually ran an event earlier this week that was really an opportunistic chance for us to drive some traffic to the store, to get clean on some of the late winter inventory flows that were reaching our stores now so that we're ensuring we're in a clean place for the spring flows that are in the pipeline..."
re: warehouse sales - "The warehouse sales, as you mentioned, have been wildly successful, I think, because of that strong full-price position of the brand and so we will continue to evaluate where and when to do those, but it's not part of the business model in terms of driving sales with markdowns and we don't have plans to introduce that go forward." So... no warehouse sale, I guess?
13 comments:
Tanks have been so bad for so long. Glad to hear there will be some new options.
Thanks for the update.
Tanks - I don't care for any tank with built-in support. The ONLY one I have kept and like is the Deep Breath tank (think that's the right name) from a few years ago.
The CRB is my favourite tank and I hope these continue to come out in great colours and decent thickness and softness. I do not like the studio racerback and resfresh racer tanks at all.
If You're Lucky - good for me then, my wallet will be spared. I do not care for this mesh cut out aesthetic and the like.
Jackets - wholeheartedly agree, jackets have been completely lacklustre and unappealing for me.
I read it to mean there would be future warehouse sales.
It's interesting that they considered the if your lucky line successful when a good amount of it went to wmtm just yesterday not long after it was released. I did not find it appealing at all and wouldn't even buy items off of wmtm. I also did not find moody mirage appealing so maybe I'm in the minority.
I'm surprised re the If You're Lucky Line. That stuff was ugly and looked lousy on almost everyone. Excessive mesh is soo camo..
I wonder if they are including in the If You're Lucky the Moody Mirage print items in core pieces like WUCs, WUPS, Energy Bras, and Power Ys because some of those pieces sold pretty well.
What are these clowns smoking? Sounds like they are in denial once again and we will be suffering for it. I've seen more declines in quality lately and the spring stuff they are pumping out looks cheap. These guys obviously have no business sense whatsoever, they've ruined the brand.
Thanks LLA for keeping us informed!
If you're lucky line was awful in my opinion. But it's a big trend at the moment. I have plenty of tanks so I am not that interested, especially the built in support tops. My latest favorite is the what the sport tank.
M
The only tanks I care about are Power Y, CRB and SRB. I didn't like SRB at first, but now I'm liking it more and more and starting to think that CRB is kind of dated now because of the length.
A few comments from the peanut gallery...I hate to seem jaded, but...
1.- Similar level of markdowns as this time last year.
I FIND THIS HARD TO BELIEVE. THEY CLEARLY SWUNG THE PEDULUM TO FAR AND OVERBOUGHT THE INVENTORY, AS EVIDENCED BY THE HUGE AMOUNT OF WINTER MERCH THAT WENT TO WMTM JUST TWO WEEKS AGO.
2. "We may opportunistically run some markdown activities to take advantage of our inventory position"
WHAT A WAY TO SPIN THE FACT THEY SIMPLY BOUGHT TOO MUCH INVENTORY AND HAVE NO CHOICE BUT TO ISSUE MORE MARKDOWNS. THE DEVELOPMENT CYCLE IS MOST LIKELY 9 MONTHS, SO CHANCES ARE GOOD WE WILL CONTINUE TO SEE TOO MUCH INVENTORY FOR ANOTHER 6 MONTHS.
3. "Our guests responded very strongly to our storytelling, as well as the great performing feminine technical product that featured mesh panels, cutouts and beautiful prints (AKA If You're Lucky line)."
REALLY? AS OTHERS HAVE COMMENTED, WHY DID IT MOVE TO WMTM SO QUICKLY
Just my 2 cents
@ anon 7:17 pm - I was skeptical when I read the markdowns comment, too, but I couldn't remember how many markdowns we saw at the end of last year. I seem to remember there being a lot.
Holy cow! If you're lucky, your boobs didn't spill out of that signature bra! I'd have to say that entire line was pretty unlucky! I ordered the tank online and had to return it. Flimsy, awful looking and expensive! Bleh!
I would add to the Inventory/Markdowns comments that perhaps because so much of their stuff was stuck at port perhaps they had no choice but to keep winter items full price just because they had limited stock of newer items to replace it with? Or maybe it's a combo of both too much inventory and nothing to replace it with? Canada definitely had a lot more items go to WMTM in a timely fashion before US did, and our big WMTM upload was about 2 weeks after the ports issue was resolved.
Some of the items I see on WMTM interest me but I am not buying winter stuff anymore as it is warming up here in southern VA and I really doubt I would wear any of it at this point. I am not a big fan of WMTM anyways just because if I really wanted it to begin with I am willing to spend an extra $20 to have the return option and guarantee my size 6 will be available.
Lastly, to echo another commenter above, how can they call the If You're Lucky collection a success with so much of it sitting in WMTM??? I too did not care for the print it came out in, but really it just didn't appeal to me in any color--solid or pattern.
We also have to take into consideration that the strike kept a lot of the merchandize from getting out of the ports on time at least in the USA. I bet a lot of stuff that should have been here in early spring is still waiting to come out. To me this just means more WMTM.
M
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