What We Still Get Wrong About Modern Retail, Plus Get Ready to Rumble, Warby Wows, and Is Flat the New Up?

Steve Dennis and Michael LeBlanc preview their upcoming ShopTalk “Retail Rumble” appearance before diving into a wide-ranging and timely discussion on what leaders still get wrong about modern retail

The episode opens with a sharp analysis of tariff turmoil following a Supreme Court ruling and mounting legal battles, as over 1,800 companies seek refunds. The hosts explore the implications of economic uncertainty for retailers already facing cautious consumer behavior. Recent earnings from TJX, Home Depot, and Lowe’s suggest slowing momentum, with “flat” increasingly feeling like the new “up.” Meanwhile, Warby Parker continues its profitability progress, signaling that digitally native brands can mature successfully when they prioritize focus and operational discipline. Saks Global also makes progress on their journey through bankruptcy court.

The macro backdrop adds additional complexity. Nvidia’s staggering $120 billion in profits underscores the scale of AI’s economic impact. At the same time, declining U.S. net migration could create headwinds for retail growth, given that roughly 1% of annual retail expansion typically comes from population growth. Mortgage rates dipping below 6% could offer stimulus to home-related categories.

The discussion then pivots to a deeper strategic issue: how retailers need to adapt to an increasingly complex and demanding world. Steve highlights a striking insight from Walmart’s earnings—while overall sales and e-commerce are surging, brick-and-mortar sales appear to be declining. This raises a fundamental question: are retailers measuring success correctly in a world where digital and physical channels are deeply intertwined and taking the bold action they must.

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About Us

Steve Dennis is a strategic advisor and keynote speaker focused on growth and innovation, who has also been named one of the world's top retail influencers. He is the bestselling author of two books: Leaders Leap: Transforming Your Company at the Speed of Disruption and Remarkable Retail: How To Win & Keep Customers in the Age of Disruption. Steve regularly shares his insights in his role as a Forbes senior retail contributor and on social media.

Michael LeBlanc is a senior retail advisor, keynote speaker and media entrepreneur. Michael has delivered keynotes, hosted fire-side discussions hosted senior retail executive on-stage in 1:1 interviews worldwide. Michael produces and hosts a network of leading retail trade podcasts, including The Remarkable Retail Podcast, The Voice of Retail The Food Professor, The FEED powered by Loblaw and the Global eCommerce Leaders podcast. He has been recognized by the NRF as a global Top Retail Voice for 2025 and 2025 and continues to be a ReThink Retail Top Retail Expert for the fifth year in a row.