Suit-Sellers Lose Their Shirts
You only need the upper half of a suit for a Zoom meeting; the work-from-home revolution has bankrupted another suit-seller. Men’s Warehouse has failed to “improvise, adapt, and overcome” the coronavirus and e-commerce one-two punch.
If the Invstr community’s is struggling to keep count of all the brick-and-mortar retailers that have gone out of business, it might be simpler to list who ones that are still in business. The ones with hope of lasting a good few years longer; Walmart, Costco, and Dollar General.
There are more retail bankruptcies around August and September time, so investors are entering a minefield now. There will be retailers past the point of no return, and retailers restructuring as part of plans to survive coronavirus, since so much debt has been taken on.
Siemon Siegal, an analyst at BMO Capital Markets, warns if the coming holiday is another tale of scant footfall, “we’re in for a world of trouble. The hope is that come holiday, there will be some sort of return to a better version of the new normal.”
I am not a financial advisor and my comments should never be taken as financial advice. Investments come with risk, so always do your research and analysis beforehand.