Sponsors
Billabong ▼ -0.020 | PPR ▲ +0.55 | American Apparel ▼ -0.003 | The Buckle ▼ -0.51 | Columbia ▲ +0.18 | Deckers Outdoor ▲ +0.05 | Dicks ▼ -0.07 | Foot Locker ▼ -0.22 | Genesco ▼ -0.04 | Iconix Brand Group ▼ -0.08 | Jarden Corp ▼ -0.10 | Nordstrom ▼ -0.15 | Luxottica ▼ -0.41 | Nike ▲ +0.05 | Pacific Sunwear ▼ -0.06 | Skullcandy ▼ -0.12 | Sport Chalet - 0 | Urban Outfitters ▼ -0.60 | VF Corp ▼ -0.16 | Quiksilver ▼ -0.02 | Zumiez ▼ -0.41 | Macys ▼ -0.41 | Tillys ▼ -0.01 |
Ticker Sponsor
Readers Say
Always a good daily read
Always a good daily read

Shop-Eat-Surf creates a good source of timely information about the industry. The site makes all types and size companies feel part of a community where everyone is stoked to hear about other companies successes and ideas. It is always a good daily read.

- By Ted Li, VP of North America, Oakley
Useful on a daily basis
Useful on a daily basis

It's well balanced information that is useful on a daily basis. I'm very satisfied with the Executive Edition. I start each day with SES and a big cup of coffee!

- By Tom Ruiz, EVP Sales, Volcom
Industry Insight

MOSS ADAMS: Webinar 12/2 on internal controls to increase the value of your business.
AGENDA: 12/30 deadline to pre-register for Jan. 5-6 Long Beach show.
CIT TRADE FINANCE: Middle-market retailers cautiously optimistic for holiday.
Details on Industry Insight.


Tiffany Montgomery
Print This Article

Retail wisdom from Mickey Drexler

By Tiffany Montgomery
January 16, 2008 11:23 AM

I spent this morning at the ICR XChange investment conference at the St. Regis in Dana Point.


I heard lots of companies speak - I'll write updates today on the relevant ones.


I caught the tail end of Mickey Drexler's talk. He's now CEO of J. Crew and formerly the CEO of GAP. He's considered a retailing wizard so I thought I'd pass along a few of his thoughts on operating in this challenging environment.

 

Dan Levine

Someone in the audience listening attentively: Dan Levine, right, the new president of RVCA, who worked with Mickey at The Gap. RVCA also presented in the private company portion of the event yesterday.

 

Here are some Mickey nuggets:


The slowing economy means "shake out time" in retail, he said. He believes there's too much inventory out there, which drives prices lower. "Less is better," he said.


At J. Crew, he's planning inventory and store growth conservatively in this environment.


The lesson he learns every holiday season: Having too much assortment overwhelms customers. "If you are over assorted, prices get dirty too quickly," he said. It's better to be focused, have friendly prices and be easy to shop. "People need to be led and edited, specially men," he said.


The J.Crew website has a mens only page with a small number of items that has been very successful. "You tell men what to buy, and they buy it."


Articles You Might Have Missed