LETTER FROM PETER ROSENTHAL
At Rosenthal, we have always embraced and overcome challenges. This moment is certainly no different. And while we have faced many obstacles over the years, our priorities and values remain unchanged. Now more than ever, that means putting the health and safety of all of our employees and their families first.
We are proud, but certainly not surprised by, the way our exceptional team has been working tirelessly to approach this situation with purpose, integrity and empathy. We continue to be gratified by the character, resolve and determination each of you has demonstrated over the past several weeks. We simply could not have gotten through these weeks without all of you.
And like all of you, our clients are the heart and soul of our business. More than ever, we’re focused on meeting the specific needs of each of our clients, trying to find viable ways to address their immediate challenges and also prepare them for future opportunities that will hopefully emerge when this crisis subsides. Unfortunately, the hard truth is that many of our clients will not make it through this. It has been extremely difficult to watch this happen and we want to thank all of you for doing your best to try and help them.
I do firmly believe, however, that we will come out of this stronger. COVID-19 is changing the world and nearly every industry. We are managing our business under the assumption that this crisis will have significant short and long-term implications and that the way we work and conduct business in the future will be permanently altered.
Thank you for your hard work, dedication, and extraordinary efforts during this challenging time.
--Peter
COVID-19 BY THE NUMBERS
Source NPD Group Group Inc. Retail Tracker for Week Ending 3/28/20
65% of the brick & mortar stores that drive apparel and footwear sales are currently closed
(big box stores deemed essential like Walmart, Target and Costco remain open)
Source: NPD’s Consumer Tracking Service, week ending 3/28/20
30% decline in both unit and dollar sales for week ending 3/28
(categories measured include apparel, athletic footwear, auto aftermarket, small domestic appliances, toys, consumer electronics, office supplies, prestige beauty, video entertainment)
Source: NPD’s Retail Tracking Service, week ending 3/28/20
18% increase in online revenue of fashion and accessories at traditional US retailers.
Source: Emarrsys and GoodData, 4/4/20-4/11/20
BRIGHT SPOTS
Categories Experiencing Double Digit Increases for Week Ending 3/28
Office supplies -- 17% increase week over week, driven mostly by janitorial supplies like cleaning supplies, wipes, paper products and art supplies like paint, paper, crayons, etc.
Toys -- 27% increase driven by puzzles, building sets, art and crafts projects that are keeping kids and families occupied at home while they shelter in place
Consumer Tech -- FLAT during last week but categories such as monitors, printers, tech accessories like keyboards and web cams are driving the surge as most Americans set up their “work from home” (WFH) lifestyle
Small Appliances – 8% increase driven by health equipment like air purifiers and water filtrations systems, as well as kitchen gadgets and small appliances like waffle makers, hot plates and espresso machines are driving sales as more families are cooking at home and experimenting
LAGGING INDUSTRIES
Categories Experiencing Double Digit Declines for Week Ending 3/28
Beauty (all categories: skincare, fragrance and makeup declining)
Apparel (basics performing better than others, as is loungewear and activewear but all categories are still down)
Athletic Apparel (all categories down including running shoes and exercise equipment)
These numbers are directional and constantly changing. NPD numbers will update weekly
"The greatness of a community is most accurately measured by the compassionate actions of its members."
--Coretta Scott King
As the pandemic unfolds, many brands have volunteered to overhaul their production lines or utilize their resources to help produce much needed supplies like face masks, surgical gowns and hand sanitizers. We’re proud that some of Rosenthal's own clients are now pivoting their businesses to help meet these critical needs. We commend them for taking these innovative steps not only to sustain their businesses through this crisis, but to play a role in helping stop the spread and meet these urgent needs.
Faryl Robin
Donating 2,000 masks per week to hospitals and healthcare facilities in the tri-state area.
Ministry of Supply
Completed and shipped 8000 surgical masks and 1500 knit 3D printed masks that have been distributed to the Boston Medical Center Health System hospitals and other healthcare centers in the area. Plus, they’ve completed 30,000 KN95 respirators that were shipped this week to facilities that need them.
LBU Inc.
Converted their sewing factory in Paterson, NJ to mass produce masks and surgical gowns
THOUGHTS FROM HOME
#TEAMROSENTHAL
What do you miss most about working in the office?
“I miss Ken’s rants, Tracey’s sunshine, Carolyn’s humor, Miller’s love of EBITDA, Franz’s daily morning briefing, John’s daily ailment, Paul’s booming voice, Tom, Rob, Lisa, the whole second floor crew, the list is endless – it’s all about the people.”
“Not being able to yell out of my office to someone to come in and see me.”
“I miss the office banter, spontaneous conversations and even bad jokes.”
“I miss the sense of community most of all. You really do take for granted the simplest things, like walking down the hall to talk to a friend.”
What’s the best part about working from home?
“Being home with my fur babies (3 dogs) and not having to get up at 5 AM.”
“Not having to commute.”
“How easy it is to pick out my work outfits (aka sweats)!”
“Spending more time with my fiancé and brushing up on our cooking skills.”
“I have 4 more hours a day to sleep, exercise and work! A good combination – and no suit and tie. Hint hint!”
“Working in my comfy clothes. I can be ready for work in 10 minutes, which includes my commute.”
What shows/movies do you recommend watching?
“We have been watching a lot of British crime dramas on the Amazon Fire Stick. I recommend Midsomer Murders, Silent Witness and Vera.”
“I binged watched the Harry Potter series (about 3 hours per movie) and was pleasantly surprised!”
“Non-stop Drs. Fauci, Birx and Adams!”
“Ozark on Netflix, Ford vs. Ferrari, rewatching The Godfather (always great) and live rock concerts. I realize how much I miss watching sports!”
“Good time to binge old faves: Nip/Tuck is currently #1 in that area. Highly recommend Unorthodox on Netflix. Amazing!”
WE’VE NEVER LOOKED SO GOOD
#WFHLOOKS
We Want To Hear From You!
Send us your WFH photos and the answers to these questions:
What are you cooking these days?
How are you staying physically fit?
What’s the first thing you’re going to do when you’re able to leave your house?
Send your answers and your WFH photos to crosenthal@rosenthalinc.com so we can include them in a future newsletter.
SHOUTOUTS AND MILESTONES
Rozzano Pryce and Jose Corinco for keeping our mailroom running smoothly
Samuel Ortiz, Edgardo Quevedo and Bienvenido Capellan from Office Services for ensuring business continuity even while operating remotely
Juan Cornelio, Mirela Curte, Alin Grecea, John Kinney, Raylan Liang, Ena Muslim, Dwight Scott and Ashraf Selim from IT for ensuring seamless remote access for our entire staff
Michael Stanley would have received the 70th Top Hat Award on April 2nd (postponed) presented by the 475 Esquire Toppers
Maria Contino was recognized by The Secured Lender as one of 2020’s Top 50 Women in Secured Finance
Service Anniversaries
Latiffa Marcus (International) – 20 years
Ganfay Eng (Operations) – 15 years
Wendy Xu (International) – 15 years
Kenneth Cronin (Finance Audit) – 5 years
Victoria Iliou (Operations) – 5 years
Jasmin Lozada (Operations) – 5 years
Bienvenido Capellan (Maintenance) – 5 years
