The Evolving Landscape

Innovate or perish. It’s a brutally frank precept, but one that we witness in our respective working worlds almost every day. It’s certainly not hard to find examples – good and bad – in retail.

Less than a decade ago Apple was a niche brand, a purveyor of hip “otherness” in a market dominated by PCs. Then came the iPod, iTunes and the iPhone: now that quirky company is one of the 40 largest retailers in the country.

Around that same time, Circuit City was enjoying successive years of 30-plus percent earnings growth on double-digit increases in revenues. Today, it exists solely as an e-commerce site, its brand name plucked from the bargain bin for pennies on the dollar.

Many of these same scenarios are playing out in the world of publishing. To thrive in the future, publications have to find the right new combination of content, delivery vehicle(s) and business model.

Nowhere is this truer than with the very magazine you’re now reading. Approaching its 92nd year of publication, STORES has steadily been transformed into a dynamic multi-media enterprise that today includes targeted newsletters, webinars, a digital magazine and a revamped website scheduled to launch this month. In fact, nearly 25 percent of the income – and an even greater percentage of the profit – STORES generates now comes from businesses it didn’t operate five years ago.

The lion’s share of the credit for this ongoing success story is attributable to the vision and leadership of Rick Gallagher, STORES’ publisher for the past 15 years. I have worked closely with Rick for nearly two decades. Over that time, we’ve often joked about who was going to retire first. As was the case with many of the “discussions” we had throughout the years, Rick won: he retired at the end of September, leaving some formidable shoes to fill. Due to the strong team he has built, however, we are extremely fortunate to be in a position to move forward with great confidence.

And so, in this era of change, STORES Magazine is evolving into STORES Media Group. Harry Lister, managing editor of STORES for more than five years, assumes most of Rick’s responsibilities in the new position of vice president, STORES Media. Susan Reda – the very face of STORES since her first column appeared in May 2004 – is now editor, STORES Media. As part of an overall restructuring, three other long-time members of the STORES team also have been promoted: Elena Caiola to senior director of audience development; Susan Patterson to senior director of business operations and development; and Doris Mason to circulation manager.

Like the other divisions and departments of NRF and our forward-thinking members, STORES Media will continue to change and adapt. I am excited about its prospects, and trust you will continue to enjoy and rely upon the wonderful content it delivers.