Bloomberg Talks Dana Telsey Talks 2025 Retail Recap
Dec 29, 2025
Dana Telsey, CEO of Telsey Advisory Group, shares her insights on the retail sector as 2025 concludes. She highlights a strong holiday season spurred by innovative products and variable demand. The episode dives into Walmart's tech upgrades versus Target's struggles, and the rising success of off-price retailers like TJX. Telsey also discusses the contrasting fates of Saks and Macy's, portraying Macy's as a promising investment with strategic shifts. Lastly, she foresees retail price hikes but assures consumers will still seek out new must-have items.
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Holiday Growth Driven By Newness
- Holiday sales grew modestly (about 3.9–4.2%) and met expectations, driven by product newness.
- The highest and lowest income segments showed strongest demand, favoring value or premium innovation.
Walmart's Modernization Wins
- Walmart gained from modernizing stores and anticipating customer needs with technology.
- Target lagged because store standards, product newness, and tech momentum weakened.
Tariffs And Off‑Pricers Shift Share
- Dollar stores should benefit as tariff headwinds lap and imports normalize.
- Off-price retailers like TJ Maxx, Ross, and Burlington captured share through assortment diversification.