Once the pandemic passes, and it eventually will, does anyone really think we will be achieving anything close to the comps of 2020? Wouldn’t surprise me if we hit some quarters with negative comps by end of 2021 and into 2022. Enjoy the sugar rush as the real test for LOW will be coming in future quarters. We will see just how well LOW stacks up against HD then.
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Good observation from @1hmf+19zuw8nR. I don’t believe sugar rush will last long.
LOL. Just found out the stores in my area are going back to 10 PM closes. Full speed ahead and damn any COVID protocols such as being given any time to disinfect the stores. I'm sure that extra hour and half a dozen customers are going to help us meet those 2020 comps!
@oop+19BCBZNT
Yeah you're right a minimum wage hike that likely won't pass is to blame and not the fact that store managers who chopped payroll enough will have made more than a QUARTER MILLION dollars for 2020. You're right it's the thought of paying retiree Jim who just came back after his leave for heart surgery $15 an hour that's going to sink us.
Marv knows the downturn is coming. That’s why they’re already cutting hours in the stores! It’s going to get very nasty for associates in the stores as he tries to maintain positive numbers.
Negative comps have already started. Already down vs prepandemic Feb 2020. I don't think Marvin will be bragging next earnings call.
You are so right!!!
People are about out of money, eventual minimum wage hike, inexperienced associates, no rhyme or reason to amount or choice of inventory, and increased customer dissatisfaction will be the final nails in the coffin.