The Home Depot – Top 10 Ridiculous Retail Moments Of 2021..So Far
It’s only the middle of June but as we approach the halfway mark for the year, there has been an usually robust number of moves made by American retailers, many of which seem questionable at best…and downright crazy at worst.
In the interests of public service (not to mention pulling together all of these things just to make sure we’re not the crazy ones), presented here are what from this vantage point at least look like the Top 10 most ridiculous moments in the retailing business so far in 2021.
10. Neiman Marcus Digital Deal Days: The luxury department store, with a new balance sheet coming out of bankruptcy, has gone on a $500 million buying spree of digitally based businesses to beef up its online presence. That this is even newsworthy when every other decent retailer has been doing this for a decade is only eclipsed by the fact the NM was once a leader in e-commerce but let it get away in the piles of private equity debt payments.
9. Victoria’s Secret Gets Politically Correct: Again, another “duh” moment in retailing when it became painfully clear to just about everybody else that this company sexy-tailing strategy was an embarrassing anachronism. Better late than never? We’ll see how complete this transformation really is at the store level where old habits — and push-up bras — are hard to lose.
7. At Home Going Private: Given the just-about-perfect record of big retail chains going private and taking on debt — they’ve almost always failed — this one seems to be straight out of 2006. At Home, under its former guise as Garden Ridge, has been here before and it didn’t end happily. Google Toys R Us, Linens N Things or the aforementioned Neiman’s if you want to learn more.
6. ABG Going Public: On the flip side of things, the reports that Authentic Brands Group is considering a public offering seem to be nearly as hard to understand. We get why Jaimie Salter and friends want to cash in before all the second-rate, wannabe brands they’ve accumulated prove to be less than the sum of their parts. What’s much harder to figure out is why anyone else would want to be part of this as a shareholder.
5. Home Depot
4. Staples Hopes the Third Time is Charmed: With yet another attempt to buy the retail division of Office Depot
3. J.P. Morgan Says Amazon Will Pass Walmart
Stay tuned for the second half of the year to see what happens next in the wonderful wacky world of retail. You can’t make this stuff up.