Avenues is officially out of the game, all 22 stores closed and the E-commerce intellectual property sold. That will be $400 million (125 mil per Q avg) that is up for grabs.
Lane and Catherine's should be able to grab some of that market share, that is another good thing about companies that go through the once a decade retail shakeout and come out the better for it, they increase revenues in the following year just by the sheer fact there is less competition.
That is the dirty little secret shorts during the retail shake outs like to keep under the carpet with "brick and mortar dying" "internet now after 25 years is looking to take over" both of which prove to be BS every time. It's just a normal cycle that happened well before the internet and will happen again.
The ones that stay around well, they gain from the 7-10K stores that close, that money just doesn't disappear, though they would love for one to think that, its all going to AMZN buy overpriced AMZN stock before the bubble bursts on it, it will hit $10K before it burst, don't miss out, lol.
