2021 brought us “one belk”, Lisa Harper’s resignation, Chapter 11, Nir Patel’s promotion, thousands of customer complaints, but no store closures thus far, what will 2022 bring?
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1st quarter layoffs as holiday sales won't meet expectations and $$$ needs to be rewarded to the higher execs during yearly review time.
Remember the Proverb when the blind leads the blind both shall fall into the ditch quoting Matthew 15:14. This is what Sycamore Partners is doing to Belk and all retail companies into Chapter 11 in order to squeeze out maximum profits!
In the movie Goin' Ape, Danny DeVito (as Lazlo, the ape handler) said, "The horse does not lift his tail without good reason!"
Belk as it was even 10 years ago doesn't exist. It, and other b&m retailers are becoming irrelevant. It's just that Sycamore is doing everything, seemingly, wrong and, as a result, expediating their irrelevance and hastening an inevitable departure from the competitive market.
“When there is love there is life”said Manhatma Gandhi
When there is Chapter 11 there is Belk (liquidation in 2020) ????
More Door Busters?