kes told the crowd. “You’ve got the world changing at such a dynamic rate [with] not only politics, but social commerce, digital [and] evolution.” Brookes, who has held executive roles across Myer, Woolworths and Edcon, outlined listening as his first principle for business turnaround. “I run focus groups with staff, with the customers and with the suppliers,” he explained.  “I then write everything down, put that in a little plan and present it back to the owners of the board, or to the management team. Your staff know all the problems, your suppliers know and your customers will tell you where you miss feeling,” he added.   He described how this approach shaped a 100 day plan that helped revive Myer during his tenure as CEO, taking the retailer from a $66 million loss to $290 million in profit and a market capitalisation of over $1 billion. Brookes was also frank about the downfall of fashion retailer Colette by Colette Hayman, where he was chairman. And while he’s now the chair of several companies including television network TVSN, He emphasised that people remain at the heart of retail, noting his passion for recognising contribution and reinforcing that, at its core, retail is inherently about people. In his closing remarks, he highlighted a shift in mindset among the next generation of retail professionals, noting that today’s emerging talent is driven less by financial equity and more by a desire for purpose and balance.  He urged the industry to rethink its approach to nurturing future leaders with these values in mind. Planning, people and future proofing leadership In an exclusive interview with Inside Retail, Brookes reflected on the nature of today’s multi dimensional retail, and that retail requires more “dynamic and intuitive actions”. “Traditional retail was disciplined, command-like and process-driven,” Brookes explained. “Budgets become forecasts and dynamic financial goals. Leaders do not need prescriptive objectives but principles to lead by,” he added. Brookes, who has chaired, run and advised a multitude of retail businesses across categories and continents, says the best operators in the ’90s thrived on cookie-cutter discipline. Not anymore.“The best businesses today in retail ‘ebb and flow’ daily across multiple channels with an entrepreneurial focus,” he said. “They must be given autonomy and an ability to invest on the run and have a founder mentality in the day-to-day dealings”. It’s a mindset Brookes has applied across his consulting and boardroom roles often starting with his well-documented 100 day transformation framework.  Asked whether any modern retailers have impressed him with similar dynamism, he was open to name names.“JB Hi-Fi is impressive in dynamic planning and moving into new categories quickly,” he said. “Other impressive retailers who have developed good long-term plans are Amazon, Aldi, Costco, Bunnings, Cotton On, Chemist Warehouse, Mecca and Ikea,” he added.  Still, not every venture hits the mark, and Brookes is open about the lessons learned, as he reflected during his fireside chat at Online Retailer.“Retail is a lumpy business, with Black Friday and Christmas becoming more significant and the low periods require more price and promotional investment,” he said.  “Cash flow is critical but equally important is access to capital. Bricks-and-mortar retail is not a ‘sexy’ investment at the moment, as international marketplaces, online pure-play and expanding big-box retailers scare investors who see AI and the next big thing, not another series of bricks-and-mortar rollouts,” he added. Despite the challenges, Brookes remains committed to investing in the sector’s future, particularly its talent.  As patron of the Joe Berry Award, now in its 40th year, he sees leadership development as retail’s most enduring legacy.“The Joe Berry Award… has developed a great calibre of executives who now hold many senior retail roles,” Brookes explained.  “The legacy we should all leave is about future leaders, future start-ups and a metabolism that recognises the retail industry for the career it can provide, the rewards it can give and the recognitions available,” he added.  The growing complexity of the CEO role is a reality that Brookes acknowledges and with that, he offered practical advice to emerging leaders.  He emphasised that core growth is becoming harder to achieve, making it essential for the next generation of leadership to develop a broader set of technical, commercial and interpersonal skills and to adopt a mindset of continuous learning to stay competitive. Brookes has alluded that commitment to growth is the edge that sets great leaders apart, and it’s a mindset he lives by. “I’m still learning and continuing to learn”.