Latest news with #DavidMarcotte
Fibre2Fashion
4 days ago
- Business
- Fibre2Fashion
US department stores struggle, pressure mounts: NRF
US department stores remain under pressure, with most players in decline, according to the National Retail Federation's (NRF) 2025 Top 100 Retailers list compiled by Kantar. US department stores continue to struggle, with Macy's, Kohl's and Nordstrom posting sales declines, though TJX Companies leads apparel with 4 per cent growth and 3,660 stores. Ross and Burlington thrive in value apparel. Kantar's Marcotte highlights growing Gen Z interest in mall retail driven by Japanese trendsâ€'though its sustainability may hinge on tariff impacts. Dillard's (No. 68) stands as the category's strongest performer despite a soft year, while Nordstrom—now 49.9 per cent owned by Mexican retail giant El Puerto de Liverpool—remains a retailer to watch. Macy's (No. 24) saw a 3 per cent decline in US sales to $22.21 billion and a 2 per cent drop in comparable store sales. Kohl's (No. 31) posted an even steeper slide, with US sales down 7 per cent and comparable store sales off 6.5 per cent. In contrast, TJX Companies (No. 15) strengthened its lead in the apparel and jewellery segment, reporting 4 per cent growth in US sales to $43.56 billion and a 4 per cent gain in comp store sales. The retailer also grew its US store base by 3.1 per cent to 3,660 locations, NRF said in a release. Ross Stores (No. 25) and Burlington (No. 47) continue to thrive within the value apparel segment, both recognised as Power Players—retailers whose 2024 US sales were equal to or greater than 10 per cent of the category leader's. 'The broad variety of apparel options — either from source manufacturers or discontinued and clearance items — continues to support the growth of the discount trade. The additional sophistication of systems to manage a widely divergent procurement stream has led to the continued success of Ross and Burlington. The emergence of Shein and Temu has led to strong shopper engagement from the very different fast fashion shopper,' said David Marcotte, senior vice president of global retail and technology for Kantar. Walmart retained its No. 1 position overall, followed by Amazon, Costco, Kroger and The Home Depot. The NRF's annual ranking highlights category-specific power dynamics, spotlighting key players shaping retail's shifting landscape. Retail inside malls is attempting a comeback, fuelled by a real estate push to make these spaces more engaging and experiential—particularly for Gen Z shoppers. Japanese products are helping lure younger consumers back to malls, Marcotte noted. 'And that's something I'll be looking at next year, to see if it sticks. Because so much of that is impacted by tariffs,' he said. Fibre2Fashion News Desk (HU)
Axios
09-04-2025
- Politics
- Axios
SNAP cuts could hurt Indiana schools
Congress is drafting a spending plan that is expected to call for deep cuts to federal financial assistance programs, including the Supplemental Nutrition Assistance Program (SNAP), often known as food stamps. Why it matters: SNAP is part of Indiana's K–12 school funding formula. If the program is cut in a way that limits eligibility and reduces the number of Hoosiers receiving food aid benefits, schools could see funding cuts. How it works: The funding formula starts with a base appropriation based on the number of students enrolled in each district. Districts get additional dollars for things like the number of students living in low-income households, receiving special education services, learning English and taking advanced classes. The additional dollars for students from low-income households is called the complexity index and the state bases it on the number of students in foster care, receiving benefits from the Temporary Assistance for Needy Families (TANF) program or receiving SNAP benefits. Between the lines: Complexity is supposed to be a proxy for at-risk students, designed to give more funding to schools with a high proportion of students who have more needs. State of play: If fewer families qualify for SNAP benefits, fewer students will be counted in the complexity index and their schools won't receive the extra dollars to support them. Schools have already argued that complexity undercounts the number of at-risk students they serve. On average, the complexity index is 65% lower than the percentage of students who qualify for free or reduced-price lunch — another proxy for low-income or at-risk students that Indiana previously used for calculating complexity. According to an analysis from the Indiana Urban Schools Association, 19 other states still use lunch assistance for their complexity grants. What they're saying: David Marcotte, executive director of the association, told Axios that urban districts are very concerned about potential cuts to SNAP — both for the impacts on their families and on school budgets. "It has been a long-standing foundational understanding that educating students of poverty requires additional resources, mainly staffing, which is the reason the complexity index was established in the school funding formula," he said. "A reduction of the complexity index would have a negative impact on the amount of resources available for educating children in poverty." Yes, but: The state has been moving toward a flatter funding model for years, in which the funding gap between schools is shrinking — regardless of their student demographics. The House Republican budget proposal keeps complexity funding flat for the next two years while increasing the base funding that schools get for all students.
