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Twin Studies Predict Strong Recovery For Licensing and Retail

By Gary Symons TLL Editor in Chief Two key reports released over the past two weeks illustrate the devastating impact of COVID-19 on the licensing and retail industries … but they also paint an encouraging picture for the economic recovery of both sectors as vaccination programs roll out in America and around the world.  License Global released its report—COVID-19: What Happens Next—on the impact of COVID-19 on the licensing industry, with survey respondents showing the industry as a whole suffered declining revenues and layoffs. The good news, says the License Global report, “Industry professionals on average expect business to stabilize and return to broadly pre-COVID-19 levels by December 2021. Most notably, 45 percent of respondents anticipate a rise in annual revenue, while 28 percent anticipate an increase in headcount and… . . . read more

Troubled JC Penney Searching For New CEO

JCPenney has survived the ups and downs of the economy for 118 years … but whether it will survive much longer is open to question. The company now hopes new blood in the CEO suite will help JCPenney turn around a dire situation that saw the department store chain file for bankruptcy in May, after losing money for 10 straight years. CEO Jill Soltau, who took on the position just two years ago, left the company on New Year’s Eve and the company has announced it is actively searching for her replacement. The new owners of the company—Simon Property Group and Brookfield Asset Management—appointed Simons’ Chief Investment Officer Stanley Shashoua as JCPenney’s interim CEO, who will be backed by current members of the company’s C-level executive team. In a press… . . . read more

Retail Sales of Licensed Merchandise through Department Stores/Mid-tier, by Property Type, U.S. & Canada