Foxtrot and Dom’s Kitchen & Market collectively operated less than 40 stores in just a few markets. The former was just a decade old, while the latter’s first location hadn’t even celebrated three years in business. But when?the news hit last week?that both retailers, which merged last fall under newly formed parent company Outfoxed Hospitality, had ceased operations, the outpouring of shock, grief and frustration across the industry was enormous.
It’s not clear what led to the demise of Foxtrot and Dom's — two retailers that that had seemed so promising. What is clear, however, is that Foxtrot and Dom’s were operating during a tough time for upscale, innovative retailers. Their downfall comes as both consumers and retailers are feeling more pressure than ever to cut costs, pare down and focus on the essentials.
Indeed, we’ve entered a period where creative new retail ideas will struggle to flourish against the raw power of large players and the grinding need for efficiency — and it’ll likely only get tougher from here.