Storch said his second retail theme of 2015 would be value retailers such as T.J. Maxx, Costco, Ross and Dollar General because consumers are constantly looking for deals. "Ever since the Great Recession, the consumer is heavily focused on value," he said. "You have to really be delivering something at a price."
Finally, Storch said the Internet is the most important theme for retail in 2015, not only because of the price transparency it provides, but because of how it has helped omnichannel retail.
"Omnichannel retail has grown dramatically, and that's where customers shop online and pick up at the store," he said.
Companies like Macy's, Nordstrom, Best Buy and Target have adapted best to the changes the Internet has brought along, Storch said. "These companies have done a fantastic job of catching up with the Internet, so it's not just a game for the online-only retailers," he said. "There are others that haven't done so well, and they have to catch up fast."
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Storch added that oil's current price drop is beneficial for the retail industry. "Every single product that is sold has a transportation component, so that'll lead to lower transportation costs," he said. "It's a huge driver for the economy if it stays this low."
Storch will take over as CEO of Hudson's Bay on Jan. 6, succeeding Richard Baker. Hudson's Bay reported its Saks store on Manhattan's Fifth Avenue was valued at $3.7 billion, an $800 million value increase since the company bought the department store chain.