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Best Strategic Turnaround - Who Pivoted Successfully? | Fast Five Shorts · Omni Talk Retail

• 0:00
  Best
• 0:00
  strategic
• 0:00
  move
• 0:01
  from
• 0:01
  a
• 0:01
  struggling
• 0:01
  retailer.
• 0:02
  And
• 0:02
  let's
• 0:02
  go
• 0:03
  to
• 0:03
  you
• 0:03
  first.
• 0:04
  I
• 0:05
  picked
• 0:05
  Macy's
• 0:05
  for
• 0:06
  this
• 0:06
  one.
• 0:06
  I
• 0:06
  thought
• 0:07
  that
• 0:07
  they
• 0:08
  closed
• 0:08
  down
• 0:08
  a
• 0:09
  lot
• 0:09
  of
• 0:09
  their
• 0:09
  small
• 0:09
  format
• 0:10
  stores.
• 0:10
  They
• 0:10
  seem
• 0:11
  to
• 0:11
  really
• 0:11
  be
• 0:11
  shifting
• 0:12
  focus
• 0:12
  again
• 0:13
  this
• 0:13
  year
• 0:13
  on
• 0:14
  what
• 0:14
  makes
• 0:15
  Macy's
• 0:15
  Macy's
• 0:16
  and
• 0:16
  how
• 0:16
  to
• 0:16
  figure
• 0:17
  out
• 0:17
  how
• 0:17
  to
• 0:17
  get
• 0:17
  people
• 0:17
  back
• 0:18
  into
• 0:18
  the
• 0:18
  store.
• 0:19
  And
• 0:20
  then
• 0:20
  the
• 0:20
  second
• 0:20
  part
• 0:21
  of
• 0:21
  that
• 0:21
  would
• 0:21
  again
• 0:22
  be
• 0:23
  the
• 0:23
  emphasis
• 0:23
  that
• 0:24
  they
• 0:24
  put
• 0:24
  on
• 0:24
  their
• 0:24
  own
• 0:25
  brands
• 0:25
  and
• 0:26
  high
• 0:26
  style
• 0:26
  and
• 0:27
  really
• 0:28
  well
• 0:28
  executed
• 0:29
  fashion
• 0:30
  across
• 0:30
  their
• 0:30
  on
• 0:31
  34th
• 0:31
  brands.
• 0:32
  And
• 0:32
  the
• 0:33
  collaborations
• 0:33
  that
• 0:33
  they
• 0:33
  did
• 0:34
  for
• 0:34
  the
• 0:34
  INC
• 0:35
  brand
• 0:35
  which
• 0:36
  had
• 0:36
  its
• 0:36
  50th
• 0:36
  anniversary
• 0:37
  this
• 0:37
  year.
• 0:37
  Like
• 0:37
  I
• 0:37
  think
• 0:38
  that
• 0:38
  we
• 0:39
  just
• 0:39
  awarded
• 0:39
  Emily
• 0:40
  Arusha
• 0:40
  Hillockiu,
• 0:41
  the
• 0:41
  head
• 0:41
  of
• 0:42
  the
• 0:42
  SVP
• 0:42
  of
• 0:42
  private
• 0:43
  brands,
• 0:43
  the
• 0:43
  Omnistar
• 0:44
  last
• 0:44
  week
• 0:45
  for
• 0:45
  this
• 0:46
  exact
• 0:46
  type
• 0:47
  of
• 0:47
  work.
• 0:47
  And
• 0:47
  I
• 0:47
  think
• 0:48
  they're
• 0:48
  just,
• 0:48
  they're
• 0:49
  giving
• 0:49
  people
• 0:49
  a
• 0:50
  reason
• 0:50
  to
• 0:50
  go
• 0:51
  back
• 0:51
  to
• 0:51
  Macy's
• 0:52
  by
• 0:52
  tightening
• 0:53
  the
• 0:53
  belt
• 0:53
  I
• 0:54
  eliminating
• 0:54
  some
• 0:55
  of
• 0:55
  the,
• 0:55
  the
• 0:55
  waste
• 0:56
  that
• 0:56
  was
• 0:56
  happening
• 0:56
  there
• 0:57
  and
• 0:57
  really
• 0:57
  putting
• 0:58
  their
• 0:58
  focus
• 0:58
  into
• 0:59
  those
• 0:59
  core
• 0:59
  stores
• 1:00
  that
• 1:00
  they're,
• 1:01
  that
• 1:01
  they're
• 1:01
  going
• 1:01
  to
• 1:02
  move
• 1:02
  forward
• 1:02
  with.
• 1:02
  So
• 1:03
  I'm,
• 1:03
  I'm
• 1:03
  giving
• 1:04
  it
• 1:04
  to
• 1:04
  Macy's.
• 1:05
  Yeah.
• 1:05
  You
• 1:05
  know,
• 1:05
  funny
• 1:06
  enough,
• 1:06
  so
• 1:06
  am
• 1:06
  I.
• 1:07
  So
• 1:07
  am
• 1:07
  I.
• 1:07
  And
• 1:08
  yeah.
• 1:08
  And,
• 1:08
  and
• 1:09
  you
• 1:09
  know,
• 1:09
  I
• 1:10
  think
• 1:10
  if
• 1:10
  I've
• 1:10
  been
• 1:10
  hard
• 1:10
  on
• 1:10
  Costco,
• 1:11
  I've
• 1:11
  been
• 1:11
  really
• 1:11
  hard
• 1:11
  on
• 1:11
  Macy's
• 1:12
  over
• 1:12
  the
• 1:12
  past
• 1:12
  few
• 1:12
  years.
• 1:13
  So
• 1:13
  like.
• 1:13
  But
• 1:13
  I'm
• 1:14
  actually
• 1:14
  starting
• 1:14
  to
• 1:14
  like
• 1:14
  Tony
• 1:15
  Spring.
• 1:15
  They
• 1:15
  just
• 1:15
  come
• 1:15
  off
• 1:16
  their
• 1:16
  best,
• 1:16
  they
• 1:17
  just
• 1:17
  came
• 1:17
  off
• 1:17
  their
• 1:17
  best
• 1:18
  quarter
• 1:18
  in
• 1:18
  the
• 1:18
  last
• 1:19
  three
• 1:19
  years
• 1:20
  and
• 1:20
  it
• 1:20
  was
• 1:20
  positive
• 1:21
  growth.
• 1:21
  So
• 1:21
  that's
• 1:21
  saying
• 1:21
  something.
• 1:22
  But
• 1:22
  I
• 1:22
  like
• 1:23
  how
• 1:23
  he's
• 1:23
  focusing
• 1:23
  on
• 1:23
  the
• 1:23
  store
• 1:24
  experience
• 1:24
  too.
• 1:24
  Like
• 1:25
  improve
• 1:25
  like
• 1:25
  he's
• 1:26
  basically
• 1:26
  putting
• 1:27
  money
• 1:27
  or
• 1:27
  investment
• 1:28
  towards
• 1:28
  improving
• 1:28
  things
• 1:29
  like
• 1:29
  the
• 1:29
  amount
• 1:30
  of
• 1:30
  service
• 1:30
  being
• 1:30
  deployed
• 1:31
  in
• 1:31
  the
• 1:31
  shoe
• 1:31
  area,
• 1:31
  the
• 1:32
  things
• 1:32
  that
• 1:32
  are
• 1:32
  part
• 1:33
  and
• 1:33
  parcel
• 1:33
  differentiators
• 1:34
  for
• 1:34
  Macy's
• 1:35
  and
• 1:35
  trying
• 1:35
  to
• 1:36
  increase
• 1:36
  the
• 1:37
  allure
• 1:37
  of
• 1:37
  the
• 1:37
  store
• 1:37
  experience
• 1:38
  in
• 1:38
  what
• 1:38
  matters.
• 1:39
  And
• 1:39
  so
• 1:39
  that's
• 1:40
  your
• 1:40
  advantage.
• 1:40
  That's
• 1:40
  where
• 1:41
  you
• 1:41
  should
• 1:41
  be
• 1:41
  investing.
• 1:41
  So
• 1:41
  I
• 1:42
  give
• 1:42
  him
• 1:42
  a
• 1:42
  lot
• 1:42
  of
• 1:42
  credit
• 1:42
  for
• 1:43
  doing
• 1:43
  that.
• 1:44
  And,
• 1:44
  and
• 1:44
  you
• 1:45
  know,
• 1:45
  it's
• 1:45
  not
• 1:45
  something
• 1:45
  that
• 1:46
  is
• 1:46
  that
• 1:46
  easy
• 1:46
  to
• 1:46
  do.
• 1:46
  His
• 1:47
  predecessor
• 1:47
  wasn't
• 1:47
  able
• 1:47
  to
• 1:48
  do
• 1:48
  it.
• 1:48
  So.
• 1:48
  Yeah,
• 1:48
  I
• 1:48
  100%
• 1:49
  agree.
• 1:50
  Chad,
• 1:50
  what
• 1:51
  about
• 1:51
  you?
• 1:53
  This
• 1:54
  one
• 1:54
  is
• 1:54
  like
• 1:54
  tailor
• 1:54
  made
• 1:55
  for
• 1:55
  you.
• 1:56
  Yeah,
• 1:56
  I'm
• 1:56
  not,
• 1:57
  I'm
• 1:57
  not
• 1:57
  going
• 1:57
  to
• 1:57
  round
• 1:57
  it
• 1:57
  out
• 1:58
  with
• 1:58
  the
• 1:58
  trifecta
• 1:59
  here.
• 1:59
  So
• 2:00
  we
• 2:00
  didn't
• 2:00
  go
• 2:01
  unanimous
• 2:01
  on
• 2:01
  this
• 2:01
  one
• 2:02
  but
• 2:02
  I
• 2:03
  did
• 2:03
  go
• 2:03
  with
• 2:04
  a
• 2:04
  marketing
• 2:05
  spin.
• 2:06
  Right.
• 2:06
  So
• 2:08
  headline
• 2:10
  was
• 2:10
  Gaps
• 2:11
  Viral
• 2:12
  milkshake
• 2:13
  denim
• 2:13
  ad
• 2:14
  with
• 2:14
  cat's
• 2:14
  eye
• 2:15
  is
• 2:16
  right.
• 2:17
  And
• 2:17
  I
• 2:17
  say
• 2:17
  that
• 2:18
  because
• 2:18
  that's
• 2:18
  A.
• 2:19
  A
• 2:19
  microcosm
• 2:20
  for
• 2:20
  Gap
• 2:21
  being
• 2:21
  back
• 2:22
  in
• 2:22
  the
• 2:22
  cultural
• 2:23
  conversation.
• 2:23
  Right.
• 2:24
  Song,
• 2:25
  dance
• 2:25
  and
• 2:26
  celebrating
• 2:26
  a
• 2:26
  pant
• 2:27
  fabric.
• 2:27
  Just
• 2:27
  like
• 2:28
  I
• 2:28
  remember
• 2:28
  in
• 2:28
  the
• 2:28
  90s.
• 2:29
  Right.
• 2:31
  Interest
• 2:31
  in
• 2:31
  the
• 2:31
  brand
• 2:32
  is
• 2:32
  high.
• 2:33
  Like
• 2:33
  comp.
• 2:34
  Sales
• 2:34
  were
• 2:34
  up
• 2:36
  7%
• 2:37
  in
• 2:37
  Q3,
• 2:39
  doubling
• 2:40
  analysts
• 2:41
  expectations.
• 2:42
  Listen,
• 2:43
  an
• 2:43
  ad
• 2:43
  campaign
• 2:44
  does
• 2:44
  not
• 2:44
  make
• 2:45
  a
• 2:45
  brand
• 2:45
  like
• 2:45
  it's
• 2:45
  not
• 2:46
  enough.
• 2:46
  We
• 2:46
  know
• 2:46
  that
• 2:47
  there's
• 2:47
  a
• 2:47
  lot
• 2:47
  to
• 2:47
  deliver
• 2:48
  on,
• 2:48
  not
• 2:48
  the
• 2:49
  least
• 2:49
  of
• 2:49
  which
• 2:49
  is
• 2:49
  actual
• 2:50
  product,
• 2:50
  of
• 2:50
  course,
• 2:52
  but
• 2:52
  it
• 2:52
  starts
• 2:53
  with
• 2:53
  people
• 2:53
  paying
• 2:54
  attention
• 2:54
  and
• 2:54
  being
• 2:54
  relevant
• 2:55
  again.
• 2:55
  Right.
• 2:56
  Especially
• 2:56
  for,
• 2:57
  as
• 2:58
  the
• 2:58
  Omni
• 2:58
  category
• 2:59
  would
• 2:59
  suggest,
• 3:00
  the
• 3:00
  struggling
• 3:00
  retailer.
• 3:01
  You
• 3:01
  got
• 3:01
  to
• 3:01
  get
• 3:02
  people
• 3:02
  in
• 3:03
  for
• 3:03
  the
• 3:03
  first
• 3:04
  time
• 3:04
  because
• 3:04
  typically
• 3:05
  struggling
• 3:06
  retailers
• 3:06
  aren't
• 3:06
  getting
• 3:07
  that
• 3:07
  first
• 3:07
  buy.
• 3:08
  So
• 3:09
  it's
• 3:09
  a
• 3:09
  great
• 3:09
  move
• 3:10
  on
• 3:10
  what
• 3:10
  Gap's
• 3:10
  doing
• 3:11
  with
• 3:11
  the
• 3:11
  brand.
• 3:11
  Now
• 3:12
  they
• 3:12
  just
• 3:12
  have
• 3:12
  to
• 3:12
  back
• 3:12
  it
• 3:13
  up
• 3:13
  with
• 3:13
  product
• 3:13
  and
• 3:14
  experience.
• 3:14
  Got
• 3:15
  it.
• 3:15
  So
• 3:15
  you.
• 3:15
  So
• 3:15
  you
• 3:15
  love
• 3:15
  the
• 3:16
  Cat's
• 3:16
  Eye
• 3:16
  partnership
• 3:17
  and
• 3:17
  it
• 3:17
  brings
• 3:18
  you
• 3:18
  back
• 3:18
  to
• 3:18
  your
• 3:18
  nostalgic
• 3:19
  days.
• 3:19
  So
• 3:20
  Chad,
• 3:20
  I'm
• 3:20
  curious,
• 3:20
  what's
• 3:21
  your
• 3:21
  favorite
• 3:21
  Gap
• 3:21
  out
• 3:22
  of
• 3:22
  all
• 3:22
  time?
• 3:23
  Oh,
• 3:24
  man.
• 3:24
  I
• 3:25
  would
• 3:25
  have
• 3:25
  to
• 3:26
  think
• 3:26
  about
• 3:26
  the
• 3:26
  specific
• 3:27
  song.
• 3:27
  I
• 3:28
  just
• 3:28
  remember
• 3:28
  a
• 3:28
  lot
• 3:28
  of
• 3:28
  snapping
• 3:29
  and
• 3:29
  dancing
• 3:30
  and
• 3:30
  khakis
• 3:30
  in
• 3:31
  the
• 3:31
  90s.
• 3:31
  I
• 3:31
  can't
• 3:32
  like,
• 3:32
  remember
• 3:32
  specifically
• 3:33
  like
• 3:34
  what
• 3:35
  the
• 3:35
  songs
• 3:35
  were.
• 3:36
  Right.
• 3:36
  But,
• 3:37
  but
• 3:37
  yeah,
• 3:38
  there
• 3:38
  you
• 3:38
  go.
• 3:39
  It
• 3:39
  was,
• 3:39
  it's.
• 3:40
  It
• 3:40
  was
• 3:40
  legit.
• 3:41
  It's
• 3:42
  funny,
• 3:42
  we
• 3:42
  were
• 3:42
  just
• 3:42
  telling
• 3:42
  producer
• 3:43
  Ella
• 3:43
  she
• 3:43
  needs
• 3:43
  to
• 3:43
  go
• 3:44
  back
• 3:44
  and
• 3:44
  look
• 3:45
  at
• 3:45
  all
• 3:45
  the
• 3:45
  old
• 3:45
  ads
• 3:46
  from
• 3:46
  the
• 3:46
  Gap
• 3:47
  to
• 3:47
  get
• 3:47
  a
• 3:47
  real
• 3:47
  sense
• 3:48
  of
• 3:48
  the
• 3:48
  nostalgia.
• 3:49
  And
• 3:49
  what's
• 3:50
  yours
• 3:50
  remind
• 3:50
  the
• 3:50
  audience.
• 3:51
  What's
• 3:51
  your
• 3:51
  favorite
• 3:51
  Gap
• 3:52
  commercial
• 3:53
  of
• 3:53
  all
• 3:53
  time?
• 3:53
  What's
• 3:54
  the
• 3:54
  one
• 3:54
  that
• 3:54
  sticks
• 3:55
  in
• 3:55
  your
• 3:55
  mind?
• 3:57
  I
• 3:57
  mean,
• 3:57
  I
• 3:58
  thought
• 3:58
  this
• 3:58
  choir
• 3:59
  won.
• 3:59
  The
• 3:59
  last
• 4:00
  one
• 4:00
  was.
• 4:01
  Probably
• 4:01
  has
• 4:02
  kind
• 4:02
  of
• 4:02
  dominated
• 4:03
  now
• 4:03
  as
• 4:03
  my
• 4:04
  new
• 4:04
  favorite
• 4:05
  that
• 4:05
  they
• 4:05
  just
• 4:06
  released
• 4:06
  a
• 4:06
  couple
• 4:06
  of
• 4:06
  weeks
• 4:07
  ago.
• 4:07
  Yeah,
• 4:07
  I
• 4:07
  thought
• 4:07
  it,
• 4:08
  it
• 4:08
  was
• 4:08
  a
• 4:08
  good
• 4:09
  way
• 4:09
  to
• 4:09
  incorporate
• 4:10
  not
• 4:10
  just
• 4:11
  the
• 4:11
  typical,
• 4:11
  like
• 4:12
  young,
• 4:13
  fresh,
• 4:14
  20
• 4:14
  somethings,
• 4:15
  30
• 4:15
  somethings
• 4:15
  wearing
• 4:16
  the
• 4:16
  product.
• 4:16
  It
• 4:16
  really
• 4:16
  showed
• 4:17
  like,
• 4:17
  okay,
• 4:18
  there's.
• 4:18
  We've
• 4:19
  got
• 4:19
  young
• 4:19
  and
• 4:20
  old
• 4:20
  people
• 4:20
  all
• 4:21
  in
• 4:21
  the
• 4:21
  product
• 4:21
  all
• 4:22
  together.
• 4:22
  And
• 4:23
  it
• 4:23
  was
• 4:23
  just
• 4:23
  very
• 4:23
  like
• 4:24
  moving,
• 4:24
  I
• 4:24
  think
• 4:24
  for
• 4:25
  this
• 4:25
  time
• 4:25
  of
• 4:25
  year.
• 4:26
  So
• 4:26
  that
• 4:26
  has
• 4:26
  now
• 4:27
  taken
• 4:27
  my
• 4:27
  top
• 4:28
  spot.
• 4:28
  But
• 4:28
  yours
• 4:29
  is
• 4:29
  what?
• 4:30
  Mine's
• 4:30
  Mellow
• 4:31
  yellow
• 4:31
  they
• 4:31
  call
• 4:31
  me.
• 4:33
  That's
• 4:34
  right.
• 4:34
  That's
• 4:34
  a
• 4:34
  good
• 4:35
  one.
• 4:35
  But
• 4:35
  Ella,
• 4:35
  producer
• 4:36
  Ella,
• 4:36
  I'm.
• 4:37
  Did
• 4:37
  you
• 4:37
  do,
• 4:37
  first
• 4:37
  of
• 4:38
  all,
• 4:38
  did
• 4:38
  you
• 4:38
  do
• 4:38
  your
• 4:38
  homework?
• 4:39
  I'm
• 4:39
  curious.
• 4:39
  Did
• 4:40
  you
• 4:40
  go
• 4:40
  back
• 4:40
  and
• 4:40
  look
• 4:41
  and
• 4:41
  see
• 4:41
  and
• 4:41
  did
• 4:41
  you
• 4:42
  have
• 4:42
  a
• 4:42
  favorite?
• 4:42
  I
• 4:43
  did
• 4:43
  go
• 4:43
  in
• 4:43
  a
• 4:43
  rabbit
• 4:44
  hole.
• 4:44
  I
• 4:44
  was
• 4:44
  watching
• 4:45
  yes.
• 4:45
  Two
• 4:46
  videos.
• 4:47
  But
• 4:47
  do
• 4:47
  I
• 4:47
  have
• 4:47
  a
• 4:48
  favorite?
• 4:48
  They
• 4:49
  were
• 4:49
  all
• 4:49
  so
• 4:50
  good.
• 4:50
  They
• 4:50
  were
• 4:51
  really
• 4:51
  good.
• 4:52
  The
• 4:52
  production
• 4:52
  was
• 4:53
  insane.
• 4:53
  So
• 4:54
  I
• 4:54
  don't
• 4:54
  know
• 4:54
  if
• 4:54
  I
• 4:54
  have
• 4:54
  a
• 4:54
  favorite
• 4:55
  I.
• 4:55
  But
• 4:55
  I
• 4:55
  could
• 4:56
  watch
• 4:56
  those
• 4:56
  for
• 4:56
  hours,
• 4:57
  so.
• 4:57
  Good.
• 4:57
  Yeah.
• 4:57
  Yeah.
• 4:58
  The
• 4:58
  Everybody
• 4:58
  at
• 4:58
  leather
• 4:59
  ones
• 4:59
  were
• 4:59
  good.
• 4:59
  The
• 5:00
  khaki
• 5:00
  ones
• 5:00
  are
• 5:00
  good.
• 5:01
  They
• 5:01
  were
• 5:01
  all
• 5:01
  good,
• 5:01
  but,
• 5:01
  yeah.