Unparalled retail expertise.

HRC Retail Advisory is led by a team of exceptional professionals, each of whom has decades of retail experience, either in a leadership role, as an advisor to executive teams, or a combination of both. Due to the unique complexities of today’s changing and competitive retail landscape, we only hire consultants with a passion for retail. Our leaders bring the relevant, hands-on and practical retail experience that enables them to advise our clients on the most effective ways to address their issues and deliver the best results.

HRC Retail Advisory is committed to delivering on our four core values:

Accountability. We deliver results, not just reports. We are committed to making meaningful changes to enable sustainable performance improvement, which often means the difference between significantly improved financial performance and a less successful outcome.

Versatility. We handpick small teams of seasoned retail experts who can adapt to different situations. Our teams react immediately when required and to move seamlessly between key issues as client needs dictate.

Innovation. We believe true performance breakthroughs come from an innovative culture that is always searching for most tailored solutions to produce the best and most sustainable results for each client. We embrace change and start each project with the mindset of helping our clients excel in the increasingly complex retail environment.

Drive. Our professionals are driven to deliver results. We seek to achieve excellence by digging deep to get to the root causes of performance gaps and to develop innovative solutions. We are also driven to assist our clients to most effectively manage the implementation of changes to deliver the most successful outcome for each of our clients.

HRC Retail Advisory works directly with key stakeholders at every company, including Executive Management, Boards of Directors or their Private Equity Owners.


Antony Karabus has been a trusted and passionate advisor to retailers on strategic and financial performance issues for over 25 years. He has helped numerous Canadian, United States and Mexican retailers create significant shareholder value and financial performance improvement. He has advised numerous leading National Retail Chains in all key sectors, including department store, specialty apparel and hard lines, big box, convenience and grocery.

Antony has a unique understanding of the impact of the most important economic levers in a Retailer’s Profit & Loss Statement and their relationship to creating economic value.

Antony began his career at Arthur Andersen in Cape Town, South Africa and moved with Andersen to Toronto, Canada. He subsequently launched Karabus Management as a Canadian retail consulting firm in 1990. In 2001, Karabus Management expanded into the United States to serve American retailers. Over the following 17 years the firm was steadily grew, becoming a leading North American retail consulting firm. In 2008, Antony sold the firm to a Global Accounting/Consulting firm where he served as the leader of that firm’s Retail Consulting Services practice until December 2011. A year later, Antony and Farla formed HRC Retail Advisory in January 2013, together with most of the senior leaders from the Karabus Management and SD Retail consulting firms.

To keep ahead of a changing retail environment, Antony conducts proprietary research studies with retail CFO’s and CEO’s to determine key priorities in assisting their business in substantive value creation.

Antony is a recognized speaker and a published author, providing thought leadership at industry forums, including the National Retail Federation, Retail Council of Canada, World Retail Congress and the Fashion Institute of Technology. He is frequently sought after to provide retail commentary and content by The Wall Street Journal, The New York Times, Stores Magazine, The Globe & Mail, Chain Store Age, National Post, Toronto Star, Women’s Wear Daily and Bloomberg Radio, amongst others.


Farla Efros joined HRC Retail Advisory in January 2013 from Office Depot, where she served as the Executive Vice President and Chief Merchandising Officer. Prior to joining Office Depot in 2010, Farla Efros was Senior Vice President at Karabus Management, then a division of an international consulting firm.

Previously, Farla spent 10 years at The Partnering Group, where she was the partner responsible for the development of best practices category, customer, and trade promotion management, working with clients such as Universal Studios, Campbell’s Soup Company, and Wal-Mart. Prior to that, she spent nine years in the consumer packaged goods industry.

Farla has extensive experience in merchandising and category management, having worked with many of the world’s leading consumer packaged goods companies and retailers.

Farla has advised many leading retailers and consumer packaged goods companies across multiple sectors, including the Grocery, Mass Merchandise/Discount, Drug, Value, Convenience, Pet Supplies, Automotive, Office Specialty, Home Furnishings and Department Store sectors. Farla has coached executives at numerous leading retailers and consumer packaged goods companies in the area of category management and assortment optimization, two areas in which she has a unique depth of specialization.

Farla is a graduate of Concordia University, where she received degrees in both Finance and Accounting. Farla has been quoted and interviewed as a thought leader in numerous retail and business media outlets, including Bloomberg Business, CNBC, The Huffington Post, Retail Insider, Women’s Wear Daily, New York Business Journal, Footwear News and Chain Store Age.