Russell Brunson – Entrepreneur of the Year

Russell Brunson – Entrepreneur of the Year

RRussel Brunsonussell Brunson, founder of Click Funnels,  receives Ernst & Young’s prestigious Entrepreneur of the Year Award. Russell accepts and gives one heck of an acceptance speech. Later in the episode, Russell shares the amazing story of his late sister Stacy.

 

What happened at Google?

What happened at Google?

A software vulnerability in the Google+ social media network gave third-party developers potential access to users’ private Google+ profile information for more than three years. Google ran tests to determine the impact of the vulnerability and found 496,951 users who had shared private profile data with a friend could have had data accessed by an outside developer, according to published reports.
If you have a Google+ profile, here’s the information that may have been exposed:

  • Full names
  • Email addresses
  • Birth dates
  • Gender
  • Profile Photos
  • Places lived
  • Occupation
  • Relationship status
Google says there is no evidence that any data has been misused, at the time of this writing. Since Google+ stores a limited set of activity logs, it is unable to determine the profiles that were affected.

Secrets Behind Apple’s Insane Profitability

Apple was the world’s first company to reach a trillion dollar valuation but on the Fortune 500 Global list (ordered based on revenue) they’re 11th place.

Why did they beat out everyone else (who make up to 2x their revenue) in reaching this milestone?

Let’s explore that now in today’s email.

The simple answer is this:

Apple is 11th place in the world for highest revenue in publicly traded companies. But in terms of profit – they are the most profitable company in the world.

To put that into context – Walmart who is number 1 on the Fortune 500 list with revenues of over 500 billion dollars, makes 15 billion in profit.

While Apple makes 230 billion in revenue but 53 billion in profit.

That’s why Apple is so valuable.

So why Apple is so profitable and what can you learn from it to help in your business? Let’s look into that now.

Have you ever imagined how Apple become the first US Company in the world to reach a market cap of over $1 trillion?

Have you wondered why Apple keeps raking in over $25 billion in profits since 2005?

Ingenious marketing?

Marketing strategy is important, but their success is more than a marketing strategy. It is a way of life.

Apple is 11th on the Fortune 500 list and is the number one profit-making company in the World. Its fortunes grow at a rate that has puzzled business analysts and observers for decades.

But, Apple’s success isn’t about selling many products; it is about changing the game in every facet possible. Their strategy has created an environment where “Apple Fanboys” by the thousands wait in line for hours to purchase the next hot product.

Despite heavy criticisms and the fact that their inventions are no longer “revolutionary”, Apple keeps waxing strong. Their success could be contributed to their mind grappling technique and the ability to combine high tech devices with groundbreaking designs.

In this article, I will reveal seven secrets behind Apple’s success and how you can adapt it to your business.

#1 From Lackluster To Luxurious

Apple is known for creating some of the sexiest products on the planet.

But it wasn’t always this way.

Back when cell phones were first coming out they were large, clunky, and unappealing. More than anything they served a functional purpose and that was it. However, Steve Jobs was obsessed with making the designs, simple, attractive, and turning them into something considered luxurious.

Owning an iPhone is more than owning a smartphone—it is a symbol of status.

A research paper released by the National Bureau of Economic Research reported that people who own an iPhone are 69.1 percent more likely to have a higher income. Overall, owning an iPhone doesn’t mean you are rich but it does serve as a reliable indicator that you are part of a higher income bracket.

This is the image that Apple has cultivated with their smooth design, slick marketing, and product packaging.

Try to emulate this in your own business. Rather than throwing a sticker on an Alibaba “me too” product, spend time designing something unique and special. Think about creating an experience for the customer, from the packaging to the final product. Make your products something that people are proud to own and show off.

Make it a status symbol to own what you sell.

After all, the best marketing is word of mouth and nothing beats personal references in this day and age.

#2 Simplicity

Apple understands that if the customers are confused about what they have to offer, their products will not sell.

But, it goes a bit deeper than this.

Steve Jobs was passionate to the point of obsession with the design of his products.

He was inspired by his old neighborhood and developers like, Joseph Eichler, who created homes that featured clean design and simple taste at an affordable cost.

This inspiration led Jobs to want to create elegant products that were sleekly designed for the masses. It resulted in the design of the first Mac, which was constructed in a way that looked immaculate both inside and out, and again with the iPod.

Unique and simple design has now become a hallmark of all Apple products. Anyone can pick up an iPhone, which is objectively a technically advanced product, and learn how to use it in just a few minutes. You can even watch a 3 year old navigate an iPad like it’s the most intuitive thing in the world.

But, they don’t stop at the product.

Take a look at their packaging. It’s designed with the same care and attention to detail that goes into their products.

image

Clean colors, little text, a picture, and solid materials.

This all has a great impact on the entire customer experience. Everything is perceived value, which is why people happily line up to buy $1,000 phones all over the world.

It’s not impossible to emulate this. If you’re terrible at design or don’t know where to start, hire a professional designer and give them your input. Usually a talented designer can make some beautiful designs with very little input.

You’ll find that this process can be incredibly frustrating but also fun and highly rewarding when you come up with something that is new and fresh.

If it fits your product and niche, think about implementing some of these strategies into your brand and see how the customers react.

To give you an example of this here is something a friend showed me awhile ago with a typical PL-style product – iPhone cases.

image
image

Just some simple changes to their packaging add a premium feel to it.

The friend who showed me this actually sent it to me on WhatsApp over 2.5 years ago, but when I was writing this email I remembered it instantly and searched back for it.

The reason why I still remember it to this day is the Signatures.

I really like that they added the Signatures of the founders on the packaging, it’s such a small and simple thing – but the effect of it is significant, it really adds to the premium feel of the product.

Like it’s an Artisan Luxury product, like how when you open a Mercedes Benz AMG engine there’s a signature from the person who assembled your engine.

image

Apple has their own signature going with the classic “Designed by Apple in California.” engraved on the back of every single one of their products.

Think about how you can do something similar with your products.

#3 Strong Supply Chain

In 2011, statistics show that Apple performed much better than HP, Blackberry, Motorola and some other companies in respect to inventory management. A research firm, Gartner, also ranked Apple’s Supply Chain as the best in the world due to their ability to scale so quickly to meet demand.

Much of the hype around Apple’s #1 ranked supply chain has been attributed to CEO Tim Cook, who is considered a “supply chain specialist.”

In addition to Apple’s strong relationships with their suppliers, Apple also uses advanced inventory tracking mechanisms, which allows them to be flexible during times when they need to increase output during peak demand.

Furthermore, it’s no secret that most of their manufacturing has been outsourced to China. This strategy has been instrumental in their outstanding production rate and large profits—something that wouldn’t be possible at the same rate if they used US-based factories.

Fun Fact: Apple turns over their inventory every 5 days! Yes 5 DAYS!

For an electronics consumer company, this is an incredible feat. The only company to beat Apple in this turnover rate is McDonalds, which turns over inventory every 2.5 days.

How do they do it?

Once again, fingers point the “operational genius,” Tim Cook. When Cook took over in 1998 he streamline Apple’s entire supply chain by cutting excess costs and sitting inventory. He also shut down 10 of the company’s 19 warehouses to restrict overstocking. This resulted in bringing the turnover rate down from one month to 5 days.

As an e-commerce seller, think about how you can learn from what Apple has done on a massive scale.

Have you ever calculated your turnover rate?

Are you carrying too much inventory?

Is your supply chain optimized for different times of year?

You should be calculating this stuff and figuring out where you can make improvements. If you’re sitting on 6 months of inventory just because you don’t like placing a lot of orders, you’re leaving money on the table, plain and simple. All of that tied up cash could go towards launching new products and increasing your bottom line.

Any physical components for your product should be sourced from the highest quality suppliers who you can build long-term relationships with. Like Apple, this will help you when you need to push them for a large order and a quick turnaround time. They will be more likely to you favors if you have established a solid relationship.

After you’ve nailed down each part of this process you should have a well-oiled machine that takes inputs like ideas, information, money, and creates outputs like your hot selling private label products and large profits!

#4 Hiring Results

While other companies are busy hiring and training “professionals” in a field, Apple is interested in an individual that can deliver. Thus, most of the Apple’s employees are insanely good at what they do.

As a company, your ability to deliver top-notch services is connected to the skills of your employees. Employing a highly skilled and passionate person will push your business to the top. Spend time in the hiring process to learn what makes people tick and decide if they fit your long-term goals of your business.

#5 Don’t Waste Money

Every year, Apple spends billions on research and development (R&D) to improve their product and launch new products. However, this money is spent so efficiently that Apple still produces more revenue than any other tech company while spending less on R&D.

Just a few examples here will demonstrate this point:

  • Amazon 2017 R&D Spend: $16.1 billion; 2017 Revenue: $178 billion
  • Google 2017 R&D Spend: $13.9 billion; 2017 Revenue: $110 billion
  • Samsung 2017 R&D Spend: $12.7 billion; 2017 Revenue: $222 billion

To contrast, in 2017 Apple spent $10 billion on R&D while generating $228 billion in revenue, clearly outselling each of the above competitors.

What’s crazier, as of July 31st, 2018 Apple had 243.7 billion in cash on hand! Yes, you read that correctly. That is an INSANE amount of cash to just be sitting there. But it’s not all for nothing.

Apple knows when to use their resources for the right projects and it has suited them well so far. They don’t spend cash on unnecessary or low ROI projects. They focus their efforts and spend where it matters.

If your own business is growing at a nice rate and you’re making more cash than ever before, keep this story in mind.

Don’t just assume you can start throwing cash at every product that comes to thought. With great upswings will come downswings and you need to have that cushion to protect your business during a rainy day (or year).

When the time is right, focus your efforts and spend your cash in the most efficient way possible that will help grow your business and give you a positive ROI.

#6 Charge More

The first generation iPhone was released at a price of $499 in 2007.

A decade later and the newly released iPhone Xs is going for $999—double the price.

Sure you can account for inflation but inflation surely hasn’t doubled in a decade. Apple is charging more and more for their products, because they can.

They are able to do this for a few reasons:

  1. Perceived Value – Apple products are perceived to be the highest quality phones on the market, with excellent cameras, apps, and a variety of slick features.
  2. Image – Due to great marketing over the years, Apple has positioned themselves as the “cool” brand that other “cool” people want to buy.
  3. Integrated Ecosystem – Apple produces a variety of technology products that all interact with one another. If you already own a Macbook, it makes it that much easier to just buy an iPhone because you can sync contacts, calendar, music, and so much more.

All of these factors allow Apple to charge more for their goods and it reinforces their products as being viewed as “luxurious” as described above.

Once again, you too can do this with your own products. Building a strong brand image and cohesive design around all of your products is a solid strategy for charging more for the same goods.

Many people use price as a proxy for quality so try to build your products in a way that allows you to fulfill that perception. Your customers will be happy that they are getting something that is of higher quality and you will be happy because you can charge a higher price and enjoy larger profits.

Apple has shown time and time again that they are the dominant technology company of the world. With billions in annual profits, it’s no secret that they execute and execute well.

You too can implement the secrets above in your business with a little diligence, time and consistency. Don’t be surprised when you see a jump in your profits in the long run.

Hope these tips help!

How can YOU be the Apple of your category/niche?

If your brand has traction, take the time to think this through and think about how you can reinvent your brand.

Most of us build our first Amazon brands with little thought, we just want to get to market quickly. But once it’s all validated and profitable – it’s worth revisiting things.

30 Day Book Review – What’s Inside

What is inside the 30 Day Blueprint Book?

The “30 Days” book is a 550+ page hardcover book of ALL the compiled battleplans (Day 1 through Day 30) from each speaker during the “30 Days Interview Series”.

That means,

You’ll not only watch them talk about their plan…you can actually SEE the “big picture” laid out right in front of you!

You can HOLD it in your hands…

You can page through, and reference it as you try out new business ideas…

You can highlight key ‘a-ha’ moments’ as you read, and make notes in the margins….

 

Here is the list 30 Day Blueprints organized by each speaker:

Trey Lewellen – The Proprietary “Reactive Startup Formula” That Makes Launching Your Product Painless…And Virtually Guarantees Your Success!
Liz Benny – Secrets Of A High-End ($10K+) Coaching Program
Garrett J. White – The “Core 4” For Achieving Success
Alison J. Prince – How My School-Age Daughters Built Their Own 6-Figure ECommerce Empire…In Just 9 Months
Dana Derricks – The “Dream 100” Method That Helped Generate Millions In Revenue For Myself And My Clients
Julie Stoian – The 3 “Profitability” Steps You Absolutely MustAccomplish During Your First Week To Establish Credibility, And Attract High-Ticket Customers And Clients
Stephen Larsen – The “Purple Ocean” Approach To Identifying Products That Your Fans Would Body-Check Their Grandmas To Buy
Stacey and Paul Martino – The 3 Non-Negotiables For Setting Yourself Up For Success (…Before You Even Start Your Funnel)
Ed Osburn – The #1 Factor That’s Exponentially More Powerful Than A Testimonial For Getting Your Clients And Customers From A “Maybe” To A “Yes!”
Tyler Shaule – 4 Simple Steps To Crafting Your Irresistible Fundraising “Offer”

Rachel Pedersen – How I Take Entrepreneur Clients From $4,000/Mth To Pulling In Up To $7,000 PER DAY

Jeremy McGilvrey – My Foolproof “HCBA” Hack That Pinpoints Profitable, In-Demand Niches In Just MINUTES
Peng Joon – How To Attract Attendees To Your $1K-Per-Ticket LIVE Event In Just 45 Minutes…(And FILL Every Seat In The Room)
Myron Golden – The Selling Strategies I Use To Help My Clients Rake In Up To $10 MILLION Per Year Each
Jaime Cross – Mastering the “Convergence Quadrant” Method: Optimize Your Offers Before You Ever Start Building Your Funnel
Dan Henry – The Unusual Approach That Led Me To Build A $3 Million Business In Just ONE Year
Joe McCall – Simple Techniques That Create An Irresistible High-Ticket Coaching Offer
Spencer Mecham – How To Attract Buyers To Your Affiliate Programs On Autopilot
Anissa Holmes – How To Leverage FB To Land Clients To Consistently Fill Up Every Slot In Your Schedule
Dean Holland – Everything From FB Group, Webinar Strategies, Collaborations, And Getting Affiliates To WANT To Help Promote You!
Rob Kosberg – My Top-Secret “Embarrassingly Simple” Strategies That Enable Me to Land $25,000 Sales (Day After Day) From A Webinar
Natalie Hodson – How To Identify And Approach Your PERFECT Influencers To Promote Your Lead Magnet… (And Get The Most “YESes” Possible!)
Pat Rigsby – The EXACT Process I’ve Repeated Over And Over Again To Create 7 Businesses That Make At Least $1 Million Per Year
Caitlin Pyle – How To Build INSTANT Credibility And Authority In Your Niche (Even If You’re “New And Unknown” At The Moment)
Akbar Sheikh – How To Create An Almost INSTANT Coaching Practice That Attracts Your Perfect Clients
Rhonda Swan – How I Traded My All-Day “Hustle” For A Tripwire Funnel That Shot From “Zero” To 6-Figures In Just WEEKS
David Asarnow – The Lost PHILOSOPHY That Earned Me An 8-Figure Award…FOUR TIMES!
Raoul Plickat – Tapping Into Your “A.G.P.” To Accomplish Any Goal In HALF The Time
James P. Friel – The SINGLE Biggest Mistake That Holds New Business Owners Back…(and keeps them from ever achieving the success they dream of)
You can still get UNLIMITED lifetime access to all 30 interviews, (plus never-before seen extra interviews from each speaker, and the “30 Days” 550-page book) for FREE as bonuses when you join the ‘One Funnel Away’ Challenge!
30 Days Blueprint
  •  ‘One Funnel Away’ Coaching With Two Comma Club Coach Stephen Larsen and Julie Stoian ($997 Value)
  •  Customized 30-Day Plan & Daily Action Steps ($247 Value)
  •  “30 Days” Hardcover Book ($97 Value)
  •  Unlimited Lifetime Access To “30 Days” Interviews ($47 Value)
  •  Never-Before-Seen Two Comma Club Funnel Interviews ($47 Value)
Total Value: $1,435
If you want to get your funnel LIVE and start building your business, then this is the mission we’re giving you…
You have 30 Days, starting October 15th…
Do YOU Accept?
Only For $100

 

Grant Cardone Opens 10X Airlines

10X Growth Conference

Grant Cardone & 10X Airlines is expanding! Last night Grant took delivery of his new $50 million dollar jet. It’s bigger, faster, and better than his first 10X jet. Remember, if you’re not growing, you’re stagnant…and staying stagnant will always lead to contraction. You can fake a lambo but you can’t fake a jet. Grant looks forward to taking this plane around the world and meeting you!

P.S. Want to win a dinner with me on my new plane? Get your ticket to 10XGrowth Con 3

Click Here you’ll be entered to win!

Top U.S. Based Retail Stores Are Closing in 2018

Victoria’s Secret store closings: Here’s what you need to know

Image Credit: Dreamstime

2018 has been yet another challenging year for traditional retailers. After shutting down more than 5,000 stores in 2017, there have been more than 4,000 store closures announced so far this year.

The latest news is from a leader in the women’s lingerie business. Read on for the details…

Retail closings: The latest news

Victoria’s Secret – 20 stores

Some malls across the country will be losing their Victoria’s Secret stores.

During a recent investor call, company executives said Victoria’s Secret will shut down about 20 of its roughly 1,000 North America locations and open about three this year.

Victoria’s Secret is part of L Brands, which also includes PINK and Bath & Body Works.

On that investor call, L Brands announced a slight drop in same-store sales and the retirement of Denise Landman, CEO of Victoria’s Secret PINK. Leaders said they were “very focused” on improving performance at Victoria’s Secret.

Although no list of the closing stores was released, executives said decisions about the store portfolio are made based on performance.

Sears and Kmart – 46 additional stores 

Sears closing additional stores

You can add another 46 Sears and Kmart locations to the store closing list.

Sears Holdings has already shut down several hundred unprofitable stores this year and has now decided to close even more in November 2018.

“We continue to evaluate our network of stores, which is a critical component to our integrated retail transformation, and will make further adjustments as needed,” Sears Holdings said in a news release.

Liquidation sales will begin as early as August 30 at the following stores:

Kmart stores closing

  • 935 Sweetwater Road, Spring Valley, CA
  • 1075 Shaw Avenue, Clovis, CA
  • 3625 East 18th Street, Antioch, CA
  • 6310 W 3rd Street, Los Angeles, CA
  • 589 Bridgeport Avenue, Milford, CT
  • 301 College Square, Newark, DE
  • 3231 Chicago Road, Steger, IL
  • 11 South Kings HWY 61, Cape Girardeau, MO
  • 2308 Highway 45 N, Columbus, MS
  • 605 Old Country Road, Riverhead, NY
  • 440 NW Burnside Road, Gresham, OR
  • 101 Great Teays Blvd, Scott Depot, WV
  • 2150 South Douglas HWY, Gillette, WY

Sears stores closing

  • Flagstaff Mall, 4800 N US HWY 89, Flagstaff, AZ
  • Capitola Mall, 4015 Capitola Road, Santa Cruz, CA
  • 2424 Highway 6 And 50, Grand Junction, CO
  • 2266 University Square Mall, Tampa – University, FL
  • 1625 NW 107th Avenue, Doral / Miami, FL
  • Coastland Ctr, 2000 9th Street N, Naples, FL
  • Oglethorpe Mall, 7810 Abercorn St, Savannah, GA
  • 2860 Cumberland Mall, Atlanta, GA
  • 100 Mall Blvd Ste 300, Brunswick, GA
  • 1631 E Empire Street, Bloomington, IL
  • 4201 Coldwater Road, Fort Wayne, IN
  • 3000 Mall Road, Florence, KY
  • 1914 Hammond Square Drive, Hammond, LA
  • 50 Holyoke Street, Holyoke, MA
  • Silver City Galleria, Taunton, MA
  • 1250 Jackson Xing I-94, Jackson, MI
  • 4601 Glenwood Avenue, Raleigh – Crabtree, NC
  • 77 Rockingham Park Boulevard, Salem, NH
  • 1500 South Willow Street, Manchester, NH
  • 4409 Black Horse Pike, Mays Landing, NJ
  • 200 Eastview Mall, Victor, NY
  • 578 Aviation Road, Queensbury / Glen Falls, NY
  • 1400 Union Turnpike, New Hyde Park, NY
  • 2700 Miamisburg Centerville Road, Dayton, OH
  • 9505 Colerain Avenue, Cincinnati – Northgate, OH
  • 11800 SE 82nd Avenue, Happy Valley / Portland, OR
  • 400 Memorial City Way, Houston – Memorial, TX
  • Post Oak Mall, College Station – Bryan, TX
  • 7453 S Plaza Center Drive, West Jordan, UT
  • 12000 Fair Oaks Mall, Fairfax, VA
  • 8800 NE Vancouver Mall Drive, Vancouver, WA
  • 4720 Golf Road, Eau Claire, WI
  • Valley View Mall, 4200 US HWY 16, La Crosse, WI

Orchard Supply Hardware – 99 stores

Orchard Supply Hardware logo

Lowe’s has announced that it’s shutting down all 99 of the Orchard Supply Hardware stores that it owns.

According to a news release, Lowe’s says it’s closing the Orchard stores, which are in California, Oregon and Florida, to focus on its core home improvement business.

Along with the stores, a distribution facility that services them will be gone by the end of fiscal 2018.

“While it was a necessary business decision to exit Orchard Supply Hardware, decisions that impact our people are never easy. We will be providing outplacement services for impacted associates, and they will be given priority status if they choose to apply for other Lowe’s positions,” said Lowe’s president and CEO Marvin Ellison, formerly of J.C. Penney.

In addition to closing Orchard Supply Hardware stores, changes are coming to Lowe’s. The retailer will be aggressively rationalizing its store inventory by reducing lower-performing items.

These moves are taking place to help Lowe’s better compete with Home Depot.

Previously announced store closures 

Brookstone – 102 stores 

Brookstone

Mall retailer Brookstone announced on August 2 that it has filed for bankruptcy protection amid sagging sales.

The seller of massage chairs, neck massagers and other travel items said it would close 102 of its mall stores. Meanwhile, an additional 35 airport-based locations will be put up for sale because they continue to meet revenue goals.

The Fresh Market – 15 stores 

The Fresh Market recently announced that it plans to close 15 stores in Georgia, Illinois, Indiana, Kentucky, North Carolina, New Hampshire, Tennessee, Virginia and Wisconsin.

This comes after the company completed an organizational analysis, which focused on the retailer’s overall growth strategy and long-term financial performance.

The Fresh Market said on July 10 that the impacted stores below will close in two to four weeks:

  1. Snellville, GA
  2. North Druid Hills, GA
  3. Peoria, IL
  4. Normal, IL
  5. Glen Ellyn, IL
  6. Lincolnshire, IL
  7. Fishers, IN
  8. Louisville, KY
  9. North Charlotte, NC
  10. Bedford, NH
  11. Hendersonville, TN
  12. Winchester, VA
  13. Charlottesville, VA
  14. Brookfield, WI
  15. Fox Point, WI

“Over the last eight months, our company has been executing a turnaround plan and we’ve seen great progress,” said Larry Appel, CEO of The Fresh Market. “However, for a variety of reasons unique to each retail location, that progress is not evenly distributed and, as a result, we have decided to close these long-term, underperforming stores.”

The company said it doesn’t expect any further store closures in the foreseeable future.

Chipotle – 65 stores

Chipotle closing 65 restaurants  

Chipotle Mexican Grill is closing up to 65 underperforming restaurants this year, many of them in the next 30 days.

No list of the locations was provided, but USA Today reported in late June that the affected restaurants have been open between two and 15 years. Read more here.

Chipotle says it plans to focus on revamping its marketing strategy, growing digital sales and launching a new loyalty program in 2019.

Toys R Us – 735 stores 

It’s a sad day for Toys R Us kids across the country.

The iconic Wayne, New Jersey-based toy retailer is closing all of its 735 stores by June 29. Liquidation sales have been taking place at Toys R Us and Babies R Us locations nationwide since March 23.

Toys R Us is counting down the final days on its social media pages, though many stores may already shut their doors.

Liquidation discounts have been up to 70% off, according to the retailer’s Twitter page. Let us know in the comments below if you’ve found any great deals!

Starbucks – 150 stores closing in 2019

Starbucks

Your corner Starbucks may be closing its doors next year. The coffee chain announced in June 2018 that it plans to shut down about 150 underperforming company-operated stores in the 2019 fiscal year.

The optimization of its U.S. store portfolio will concentrate on densely penetrated markets, Starbucks said in a news release:

“Starbucks is optimizing its U.S. store portfolio at a more rapid pace in FY19, including shifting new company-operated store growth to underpenetrated markets, slowing licensed store growth, and increasing the closure of underperforming company-operated stores in its most densely penetrated markets to approximately 150 in FY19 from a historical average of up to 50 annually. In FY19, this will result in a slightly lower growth rate in net new company-operated stores.”

H&R Block – 400 locations

hrblock store 2

It’s the first retail casualty of the new tax law. Amid a shifting tax preparation landscape, H&R Block has announced plans to close some 400 stores as more customers go online for tax prep and the new tax law makes your return a little less complicated.

Fortunately, no employees are expected to lose their jobs, as they will likely shift to other locations. The store closures represent just 4% of H&R Block’s nearly 10,000 company-owned and franchise locations.

“We aren’t as relevant as we need to be to today’s consumer,” CEO Jeff Jones said of the news during an earnings conference call.

Kroger – 14 stores

krogerclicklist

 

Kroger will reportedly close more than a dozen stores in the Raleigh-Durham area of North Carolina because the grocery market there is over-saturated. Some 1,500 employees may lose their jobs.

However, on a brighter note, at least eight of the stores will be bought by Harris Teeter — a wholly owned subsidiary of The Kroger Co. that’s native to the Tar Heel State.

Lord & Taylor – Up to 10 stores

Lord & Taylor

Your local Lord & Taylor may be closing soon. Hudson’s Bay, the department store chain’s owner, plans to shut down up to 10 of its 48 Lord & Taylor stores nationwide through 2019, including its iconic New York City Fifth Avenue location.

The retailer says an increased focus on digital, new leadership and an optimized store footprint will help reduce costs and improve the brand’s overall performance.

HBC’s CEO Helena Foulkes elaborated in a news release:

“We are also taking action to reposition Lord & Taylor for improved results and increased profitability. With a new leader dedicated to evolving our experience and merchandise assortment to best meet customer expectations and shopping preferences, we will take advantage of having a smaller footprint to rethink the model and focus on our digital opportunities. The Lord & Taylor flagship on Walmart.com, which launched last week, is a great example of this and represents how we are thinking about the entire business.”

Subway – 500 restaurants 

Subway restaurants

Subway plans to close 500 of its U.S. sandwich shops this year and will focus on expanding internationally, according to Bloomberg.

The company has faced competition from McDonald’s, supermarkets and even gas stations. It’s reportedly struggling to increase sales in the U.S. as new options emerge.

There are still more than 25,000 Subway locations across the country.

Bon-Ton – 256 stores

Bon-Ton closing stores in 2018

The Bon-Ton Stores Inc., a department store chain, announced in mid-April that it’s going out of business.

The store has been an icon of retail since 1854 with 256 locations today in operation throughout 23 states in the Midwest, Northeast and upper Great Plains.

Bon-Ton also owns six other nameplates: Boston Store, Younkers, Bergner’s, Carson’s, Elder-Beerman and Herberger’s.

The liquidation process in all Bon-Ton stores began on April 20 and is expected to run for approximately 10 to 12 weeks. Customers can learn more at bontonrestructuring.com.

GNC – 200 stores 

GNC 200 stores shutting down

Vitamin retailer GNC is shutting down about 200 stores in 2018. The company said efforts toward favorable lease renegotiations or relocation opportunities are ongoing and may impact the number of closings.

J. Crew – 20 stores

J. Crew closing stores in 2018

J.Crew Group announced in March that it plans to close 20 stores in 2018. It shut down 50 stores during fiscal 2017.

The retailer says it’s seeing results in its most important business — women’s apparel — but the company is only in the beginning stages of evolving the J.Crew brand.

In the fourth quarter of 2017, J.Crew sales decreased 4% and Madewell sales rose 32%.

Abercrombie & Fitch – 60 stores

Abercrombie & Fitch isn’t finished shrinking its retail footprint. The teen apparel company said it plans to close about 60 stores in the U.S. during the fiscal year as leases expire.

CNBC reports that Abercrombie has been trimming its store count in malls because more people are buying clothes online.

Foot Locker – 110 stores 

Foot Locker

Your favorite shoe store may be closing soon — Foot Locker is shutting down 110 stores in 2018.

During a recent earnings call, Foot Locker executives said the retailer is continuing to close underperforming stores. The company has struggled with declining foot traffic at malls and the shift to e-commerce.

Foot Locker reported a net loss of $49 million in the fourth quarter and comparable-store sales fell 3.7%.

Role playing with Grant Cardone at the 10X Business Bootcamp

Claiming that EVERY problem in the world can be solved by one thing is a BIG claim.

But that’s what I’m about to do…

because I believe it to be true.

Every problem in the world is solved by promotion.

Think about it.

You need more money? Then you need to promote yourself, your product, or your service.

Can’t get funding for something needed? Promote it.

MONEY solves problems.

And you can’t get money without promotion.

Get it?

Every business needs promotion to grow and stay profitable.

It’s not just a one-time thing, it’s about continued, on-going promotion!

The upcoming 10X Business Boot Camp October 5-7 will show you how to better promote — and solve — your business problems.

Here is a free glimpse of what happens at my 10X Business Boot Camp.

In addition to talking about promotion, we take a deep dive into sales techniques to 10X your revenue!

10X Business Bootcamp

MOBE is completely Shut Down

John Chow Cars

The receiver, Mark  Bernet has recovered over $14.3 million to date. $6.3 million is coming from a credit card processing company and its acquiring bank, after he obtained an order from Judge Dalton commanding them to turn the money over.

That order is posted on this website, and can be viewed HERE. The card processor and bank intend to appeal Judge Dalton’s order. The FTC and Mark  Bernet both will defend the order on appeal.

He has several other potential sources of recovery that he is pursuing. This may include lawsuits against third parties.The Court has not yet established a claims process. Please continue to monitor this websites for updates.

The receiver for the FTC has concluded that MOBE cannot be operated legally and properly. For that reason, MOBE has been completely shut down.

The Receiver’s investigation confirms that this allegation is true: Virtually all of the consumers with whom the Receiver has communicated did not earn back the amounts they paid to purchase MOBE memberships. This is not to say that all MOBE members lost money utilizing the MOBE program.

For example, Michael Williams and Michael Giannulis reportedly earned over $23 million, and were awarded Rolex™ watches and platinum rings in May, 2018 by the Defendant McPhee. Similarly, the Defendant Whitney reportedly earned several million dollars through the MOBE programs. These, however, are exceptions.

 

Were You A MOBE customer? Here’s what you need to know

My Online Business Empire

Status of Refunds
It could take several months, if not longer, to resolve the case against MOBE. If the lawsuit results in refunds, FTC use information from MOBE’s database to identify customers who lost money and are eligible for a refund. At that time, you might need to give information to verify your claim. But not right now.

What to Do Now to Get a Refund
You don’t have to do anything right now to request a refund. If you hear that you have to send a request to get a refund, it’s not true. That could be scammers trying to steal your personal or financial information. If there are refunds, the FTC will tell you if you need to do anything.

Amount of Refunds
If there are refunds for MOBE customers, each person’s refund may depend on several things, including: how much the defendants are able to pay; how much the court orders for refunds; how many people lost money; and how much each person lost.

What to Do If You Were a MOBE Customer
Report your MOBE experience to the FTC: ftc.gov/complaint. This information may help the FTC in its case against MOBE. Your report also makes sure the FTC can contact you, if necessary.

If you were a MOBE customer outside the United States, you also may want to report to the consumer protection agency in your country. For more information about reporting international scams, go to econsumer.gov.

Save your documentation. Save any emails, documents or receipts relating to MOBE. If the case results in refunds for MOBE customers, your records could help you prove how much you paid. That could be a factor in how much money you could get back.

Find out more at the FTC website.