Coronavirus hit retailers hard in 2020, and 2021 is likely to start on a similarly grim note, even for retailers that had viable businesses before the pandemic.
"All the guys in the middle are going to go through the holiday, try to collect as much cash as possible, but then I'm sure there's conversations around one of two things," said Lee Peterson, an executive vice president at WD Partners. "Are you buying a viable brand, or are you buying a place with a brand that has brands?" she said. "You could argue that Macy's still somewhat enjoys its own brand identity, but increasingly, it's not particularly differentiated."
"If you're Lululemon, you're saying 'Oh, maybe I don't want to have so much presence at the mall going forward,'" he said.Reuters Yet the company has made some moves into the digital realm, including an agreement with Microsoft that gives the chain a portion of every game purchase made on all Xbox consoles GameStop sells. E-commerce sales have also grown to nearly one-fifth of total revenue.
"I don't see any reason why The Children's Place or some of these much more specialized players wouldn't be good targets for them, because that seems to be their strategy," she said.Michael Kors, Versace, and Jimmy Choo have struggled in recent months as in-person shopping and international travel has dried up. Capri took its current form in 2018 when Michael Kors bought Italian label Versace and consolidated operations under the Capri name.
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