In this episode, Steve Dennis and Michael LeBlanc sit down with David Boone, CEO of Michaels, for a dynamic discussion on transformation, creativity, and bold retail decision-making. Boone unpacks how Michaels is capitalizing on category white space left by JoAnn’s and Party City, accelerating innovation, and re-energizing its stores and digital ecosystem. In the news, Steve and Michael explore the implications of Walmart’s OpenAI partnership, Aritzia’s breakout quarter, Levi's DTC driven results, and fresh insights from the luxury and apparel sectors.
On the latest episode of the Remarkable Retail Podcast co-hosts Steve Dennis and Michael LeBlanc deliver another fast-moving episode at the intersection of strategy, leadership, and retail reinvention.
The episode opens with Steve leading the weekly news rundown, spotlighting Walmart’s groundbreaking partnership with OpenAI's ChatGPT — a move that could redefine how shoppers discover products and transact.
They then turn to earnings where LVMH’s modest rebound hints at a possible luxury reset, contrasted sharply with Saks Global’s double-digit losses and ongoing integration pains. The co-hosts analyze Levi’s direct-to-consumer surge under CEO Michelle Gass, before diving into Aritzia’s remarkable 32% growth and aggressive US expansion.
From there Michaels Arts & Crafts CEO David Boone joins for a wide-ranging conversation about creativity, transformation, and speed. Boone shares how Michaels’ “seize the moment” initiative emerged after the collapse of Party City and JoAnn’s — an opportunity to rapidly introduce new in-store and digital concepts like The Party Shop and Balloon Bar. Drawing on his leadership experience at Staples Canada, Boone contrasts private equity agility with public-company complexity and explains why, in today’s market, inaction is riskier than risk itself.
Boone also details Michaels’ journey toward a truly omnichannel creative ecosystem, where digital discovery enhances the tactile joy of physical stores. He discusses the integration of JoAnn’s beloved IP into the Michaels experience and how the company’s purpose — “fueling the joy of creativity and celebration” — guides everything from store design to marketing voice.
Steve and Michael close with their “what’s remarkable” segment, breaking down OpenAI’s new Sora social video app and the explosive pace of AI adoption and lifting up International artisanal brand MUDD and the creative retail energy they embody. Together they reflect on the balance of innovation, humanity, and retail momentum heading into the 2025 holiday season.