Retail Brew // Morning Brew // Update

January 28, 2026

Hi! It’s a week of record lows, it seems: Consumer confidence fell below Covid-era lows in January, hitting its lowest level since 2014, the Conference Board said yesterday, as consumers shared growing concerns regarding inflation, tariffs, politics, and the labor market. Meanwhile, New York City is seeing its coldest stretch of weather in eight years. We’ll be honest—the vibes aren’t great!

In today’s edition:

—Andrew Adam Newman, Erin Cabrey

SUPPLY CHAIN

Sweat(shirt) equity

American Giant

For Bayard Winthrop, it didn’t all start with a hoodie. It started with an idea.

About 15 years ago, Winthrop, who is in his mid-50s today, had a notion of starting a clothing brand manufactured entirely in the US that evoked garments he fell in love with as a kid, when much of Americans’ wardrobes were still produced by US workers in US mills and factories.

“I had this sort of overly simplistic idea of wanting to do an American-made, high-quality clothing company that was reminiscent of the great American brands like Levi’s and Red Wing and …Wrangler and Champion and Woolrich,” Winthrop told Retail Brew.

At first he considered launching this nascent brand, American Giant, with a US-sourced and -manufactured flannel shirt, jeans, or T-shirt. But with so many domestic clothing brands having moved their production offshore, the task proved Sisyphean.

“Back then, the flannel shirt and the denim just felt way too complicated to do as like one guy trying to start a company,” Winthrop said. “And the T-shirt didn’t feel substantial enough, so I almost backed into a sweatshirt as being the thing.”

Just the thing, as it turned out.

Keep reading here.—AAN

Presented By NHS Concept to Commerce

Retail sourcing’s going…going…gone global

Retail pros, take note: NHS Concept to Commerce hits Las Vegas March 31–April 2.

NHS is where entire retail teams—product development, private label, sourcing, procurement, and merchandising—gather together for cross-functional programming and floor experiences designed to evaluate global opportunities side by side.

And don’t forget to attend the “Expert Talks” program for practical, retail-led perspectives on sourcing strategy, developing products, managing private brand growth, and navigating margin and supply chain risk.

NHS moves beyond category-based booth browsing, organizing the floor around suppliers, capabilities, and inputs that influence cost, speed, and scalability.

All you have to do? Use code NHSBREW for a free exhibit hall ticket.

STORES

Bonus round

A present bow made from 100 US dollar bills

Francis Scialabba

Year-end bonuses for employees of small businesses rose an average of 11.5% in December over 2024, from $2,502 to $2,709, according to a new report from Gusto, the payroll and benefits platform. But the retail sector lagged behind, with bonuses dipping from an average of $1,597 to $1,516, a 5.1% drop.

Gusto defines small businesses as those with fewer than 50 employees.

Among the 15 small-biz sectors Gusto measured, retail was one of only four where the bonuses didn’t increase over the previous year. Only one sector, education, saw a steeper decline, with its average year-end bonuses dipping 10.2%, from $1,538 to $1,381.

While those bonuses for retail were smaller, more workers got them, with 18.5% scoring an end-of-year bump, compared to 17.4% in 2024. That puts the retail sector slightly above the average for the breadth of employees who got bonuses, with the average among all sectors rising to 18%, from 16.7% in 2024.

Keep reading here.—AAN

COMMUNITY

Coworking with Garry E. Adams

A portrait of Garry E. Adams, CEO of commercial real estate company Capital Reality

Credit: Garry E. Adams

On Wednesdays, we ~~wear pink~~ spotlight Retail Brew’s readers. Want to be featured in an upcoming edition? Click here to introduce yourself.

Garry E. Adams is CEO, CCIM, CPA at commercial real estate company Capital Reality.

How would you describe your job to someone who doesn’t work in retail? We help brands with their real estate. Think of us as a matchmaker for brands and buildings. We connect retail concepts with the ideal location, balancing consumer behavior, real estate strategy, and financial precision. It’s less about selling products and services and more about identifying environments where commerce flourishes.

One thing we can’t guess about your job from your LinkedIn profile? That I have likely negotiated retail leases in more states than most people can identify on a map. Retail is not just about malls and high streets. It is about being where people move, pause, and spend. My office might be an airport terminal in LA one day and the high streets of NYC the next.

What’s your favorite project you’ve worked on? Launching over 300 new locations for national brands was thrilling. Helping emerging beauty and fashion brands scale from LA to the East Coast—that was like guiding a startup from garage band to Grammy winner!

Which emerging retail trend are you most excited about right now, and why? Experiential retail—where shopping meets storytelling. Stores are becoming immersive brand experiences.

Keep reading here.—EC

SWAPPING SKUS

Today’s top retail reads.

Stop and go: Amazon is shutting down its Amazon Go and Amazon Fresh stores, focusing instead on its online delivery business and Whole Foods Market growth. (the Wall Street Journal)

Split ticket: LVMH’s fashion and leather goods segment faltered in Q4, while watches and jewelry and its Sephora-led retail unit saw significant growth. (Business of Fashion)

AI on the prize: Tommy Hilfiger and Calvin Klein owner PVH Corp. is the latest retail company to join forces with OpenAI. (Chain Store Age)

One show, all the insights: NHS is where entire retail teams gather together for cross-functional programming designed to evaluate global opportunities side by side. Use code NHSBREW for a free ticket.*

^{*A message from our sponsor.}

Gen Alpha’s spending power

Child holding a phone with dollar signs and other floating digital elements

Gen Alpha doesn’t need wallets to move markets. Nearly half of household spending in the US and UK is now influenced by the youngest generation. Explore what shapes their opinions, why friends and family matter more than ads, and how brands may need to rethink how they reach tomorrow’s consumers.

Check it out

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