Catalyst Brands CEO Marc Rosen Talks Holiday Shopping

Summary

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Bloomberg Talks: Catalyst Brands CEO Marc Rosen Talks Holiday Shopping

Date: December 1, 2025
Host: Bloomberg
Guest: Marc Rosen, CEO of Catalyst Brands

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Episode Overview

In this episode, Marc Rosen, CEO of Catalyst Brands—parent company of JCPenney, Brooks Brothers, Aeropostale, Eddie Bauer, and more—joins Bloomberg to discuss the state of holiday shopping, with a particular focus on Black Friday and Cyber Monday trends. Rosen shares consumer insights, comments on the impact of macroeconomic pressures like tariffs, and explains how Catalyst leverages its brand portfolio to deliver value amidst challenging conditions.

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Key Discussion Points & Insights

1. Strong Holiday Sales and Gen Z Engagement

• Black Friday Momentum: Rosen describes Black Friday as “a super exciting day,” noting a strong turnout at JCPenney with early shoppers lining up at 5 am for deals and nostalgic giveaways.
• Gen Z’s Outsize Role: The presence of younger shoppers, especially at Aeropostale, marks a significant trend:
  • “Gen Z was fully in on Black Friday this year and it was really exciting to see Gen Z shoppers out in the malls. Our Aeropostale brand did really, really well with strong sales and, you know, a really strong presence of Gen Z coming out.” (Marc Rosen, 01:35)
• Resurgence of '90s and Y2K Fashion: Brands like Aeropostale are capitalizing on baggy, wide-leg, low-rise denim trends popular with Gen Z.
  • “The trends, Y2K is actually the trend right now. Right. It's the wide leg, the baggy, the low rise denim, and that's doing really well.” (Marc Rosen, 02:25)

2. Brand Portfolio and Value Focus

• Unified Sourcing Across Brands: The recently formed portfolio allows Catalyst to leverage scale, especially in denim and key apparel categories, to negotiate better pricing and deliver value:
  • “What the combination, which was just formed in January, has allowed us to do is put together all of that sourcing and really make sure that we're bringing the best value for the consumer by finding the best prices on denim and really giving that to the consumer.” (Marc Rosen, 03:38)
• Affordable, Familiar Fashion:
  • “Accessible fashion for the American consumer with brands that they know and love... really giving that to the consumer on days like Black Friday.” (03:25)
• Success Across Segments:
  • “Brooks Brothers also had a great Black Friday... quarter zip that was our number one selling item on Black Friday.” (02:48)
  • “At Aeropostale, we delivered the same promotion that we had last year, which was buy one get one free denim.” (04:54)

3. Managing Economic Volatility and Tariffs

• Supplier Collaboration & Cost Controls: Rosen attributes stable pricing and continued value during inflationary and tariff-heavy times to strong supplier relationships and bulk buying power.
  • “The combination this year was probably really well timed with tariffs to give us the combined volume... and then working with our suppliers to get the lowest cost for consumers.” (04:30)
• Stable Promotional Pricing: Despite cost pressures, Catalyst managed to hold Black Friday prices steady year-over-year for more than half the featured items:
  • “Well over half of the items that we offered at Black Friday deals match the pricing of last year... At Aeropostale... same promotion as last year... At Brooks Brothers... same pricing as last year.” (04:46)

4. Consumer Sentiment and Outlook for 2026

• Consumer Resilience Meets Value Seeking:
  • “The consumer has stretch wallets right now. But we also know that the consumer is going to make sure that those moments that matter... they are going to make the most for those moments.” (06:18)
  • Despite economic anxiety, shoppers are prioritizing key occasions while focusing on value.
• Recognition for Value:
  • “At JCPenney, for example, this was the fourth year that WalletHub named us as the best place to find Black Friday deals.” (06:31)

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Notable Quotes & Memorable Moments

• On Gen Z shoppers:
  “Gen Z was fully in on Black Friday this year and it was really exciting to see Gen Z shoppers out in the malls.” (Marc Rosen, 01:35)

• On trend cycles:
  “The trends, Y2K is actually the trend right now. Right. It's the wide leg, the baggy, the low rise denim, and that's doing really well.” (Marc Rosen, 02:25)

• On brand strategy and value:
  “Accessible fashion for the American consumer with brands that they know and love.” (Marc Rosen, 03:25)

• On facing policy volatility:
  “The combination this year was probably really well timed with tariffs to give us the combined volume... working with our suppliers to get the lowest cost for consumers.” (Marc Rosen, 04:30)

• On delivering for the consumer:
  “The consumer is going to have holiday and Christmas this year. What they're searching for is really more for value, and that's where we really win.” (Marc Rosen, 06:20)

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Timestamps for Important Segments

• 00:33 – Opening & welcome; context for the episode
• 01:10 – Marc Rosen discusses Black Friday performance and Gen Z engagement
• 02:13 – Brand trends and the Y2K fashion wave
• 03:08 – Common themes across the Catalyst portfolio
• 04:08 – Navigating tariffs and keeping prices steady
• 05:19 – Managing margins and promotions
• 05:56 – 2026 outlook: consumer resilience and value focus
• 06:55 – Interview wrap-up

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Conclusion

The conversation with Marc Rosen highlights Catalyst Brands’ ability to merge nostalgia and modern trends to reach value-conscious and trend-driven shoppers alike. Despite economic pressures and changing industry conditions, Rosen attributes the company’s ongoing success to strategic supplier relationships, scale economies, and a sharp understanding of what American consumers want during the holiday season: brands they recognize at prices they appreciate.

Transcript

[Indiana University Narrator]

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[Podcast Announcer]

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[Interviewer]

News the U.S. consumer remains resilient. Data from Mastercard showing retail sales rose 4.1% on Black Friday. That surpasses last year's 3.4% growth. So better than last year and better growth as well. For boots on the ground, look at the consumer. We welcome Mark Rosen, Catalyst Brands CEO. Catalyst is the parent company of retailers like JCPenney, Brooks Brothers, Eddie Bauer, Aeropostale Style, Lucky Brand, Nautica. You know all the names. Mark, welcome to the program. Thanks for joining us. Here in studio. How is, how was Black Friday and how, how is Cyber Monday shaping up?

[Mark Rosen]

Yeah. Thank you for having me. So Black Friday was as it always is. I think it just a super exciting day for all of us in the retail business. I was out in stores that morning and we had lines around the store at our JCPenney stores that morning of customers coming in for our 5am deals. They were waiting to get a snow globe, which is one of our histor historic nostalgic giveaways, but also a coupon book. I think consumers were really focused on value and deals this holiday. I will say the other big thing that we noted on on Black Friday was Gen Z was fully in on Black Friday this year and it was really exciting to see Gen Z shoppers out in the malls. Our Aeropostale brand did really, really well with strong sales and, you know, a really strong presence of Gen Z coming out.

[Interviewer]

It does feel like there's like a 90s comeback somehow. I don't know when Aeropostale really hit the but there's definitely a second wave for these kind of brands and you own a lot of them. How, how is that shaping up and what's driving it?

[Mark Rosen]

It's, you know, across the portfolio. Right. I think the, the thing that brings our brands together is, you know, we have historic brands that the consumer knows and loves. And the thing that brings them together is it's also incredible fashion at a really affordable price, I think. So if you look at Aeropustale for the teen custom, the trends, Y2K is actually the trend right now. Right. It's the wide leg, the baggy, the low rise denim, and that's doing really well. And so we're seeing consumers really come in for that Brooks Brothers, which I know you're a shock near and dear to my heart. Exactly right. So Brooks Brothers also had a great Black Friday, and we're moving into Cyber Monday. But there it was all about sweaters. So merino wool sweaters, cashmere sweaters, and the quarter zip is actually the. We have a quilted quarter zip that was our number one selling item on Black Friday. As consumers are coming in for that.

[Interviewer]

What are the common themes among the brands? You've had significant growth over the past few years, and you developed a great portfolio of brands. What are the common threads behind all of these businesses that you've put together?

[Mark Rosen]

I think the common theme, if you put it all together, is really accessible fashion for the American consumer with brands that they know and love. And that's really the thing is we've been able, as we put the whole portfolio together. If you think across JCPenney, if you think about Lucky Brand, and if you think about Aeropostale just as the primary brands for denim, and you think about the amount of denim that we source and buy for consumers across all of those brands, what the combination, which was just formed in January, has allowed us to do is put together all of that sourcing and really make sure that we're bringing the best value for the consumer by finding the best prices on denim and really giving that to the consumer on days like Black Friday. And, you know, in this time where the consumer is really value focused, that is what's making the difference. Right.

[Interviewer]

So how have you navigated what. It's been a volatile year in terms of policy. Right. Tariffs, I imagine, must have a huge effect on the amount you pay for textiles. How do you. How do you equal the hit of that in margins?

[Mark Rosen]

We work closely with our suppliers. Again, I think the combination this year was probably really well timed with tariffs to give us the combined volume of things like denim like fleece, and looking at that combined buy across the total, total portfolio, and then working with our suppliers to get the lowest cost for consumers. And we've been committed to that throughout the year. At Back to school season, we talked about it. But again, at Black Friday, if you look at JCPenney, for example, well over half of the items that we offered at Black Friday deals match the pricing of last year, because that's really the job of our merchants is to make sure that they can deliver that pricing for the consumer. At Aeropostale, we delivered the same promotion that we had last year, which was buy One get one free denim. And again, that's our, that's our merchant teams working with our suppliers to make sure that we can bring that to them. And at Brooks Brothers Sweaters, it was the cashmere and the merino wool sweaters, the same pricing as last year.

[Interviewer]

So, I mean, good deals for Black Friday and for Cyber Monday is great for the consumer, but you must have to take price somewhere, right? So what's, what's it look like over the totality of 25 and going into.

[Mark Rosen]

26 as we look across the total portfolio? Again, it is the job of our merchants to make sure that they are working to get the best costing from our suppliers and deliver that in value to the consumers. And we mix that out across the total portfolio. And so we are really focused on making sure that the key items that our customers are looking for at the big moments, like Black Friday and throughout the year, like back to school, that we are delivering like item at like value.

[Interviewer]

In terms of 26, what do you expect for, for next year? Because the consumer has been resilient. The U.S. consumer is always resilient. Right. Don't count out the U.S. consumer. But consumer confidence numbers were low. There's real worry about the labor market, and I was surprised to see such growth in this season. So what do you expect for next year?

[Mark Rosen]

I think the interesting thing the consumer is we definitely see that the consumer has stretch wallets right now. But we also know that the consumer is going to make sure that those moments that matter for the family, their families and the ones that they care about, that they are going to make the most for those moments. And so the consumer is going to have holiday and Christmas this year. What they're searching for is really more for value, and that's where we really win. You know, at JCPenney, for example, this was the fourth year that wallet Hub named us as the best place to find Black Friday deals. So we're making sure that we have the deals that, that we're showing the value. And that is what's really important to the consumer because although the wallet stretched, they're also committed to taking care of their families.

[Interviewer]

All right, Mark, great having you here in studio. Thanks so much for joining us on this Cyber Monday. Mark Rosen there of Catalyst brand Amazon.

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