1 Retail Stock to Avoid No Matter What
The year 2020 could go down in history as one of the worst years ever for retail. A combination of the fallout from COVID-19 and e-commerce growth pushed companies such as Neiman Marcus, JCPenney, and Tuesday Morning into bankruptcy. Lord & Taylor will shut its doors after nearly 200 years in existence.
The retail apocalypse is far from over. Considering the bankruptcies of many venerable, high-profile retailers, investors' attention should also turn to Macy's (NYSE: M). The demise of Lord & Taylor shows that a prestigious history will not, by itself, protect a department store chain. Moreover, even after the pandemic ends, it is not clear that the retail stock can recover in a post-pandemic world.
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Source Fool.com