Q Talk

[TY]

Is ShopHQ headed for bankruptcy? Retail Dive has an article about various retailers who could be headed for bankruptcy based on their financial scores.

https://www.retaildive.com/news/these-27-retailers-could-file-for-bankruptcy-as-pandemic-roils-the-i...

These 27 retailers could file for bankruptcy as pandemic roils the industry

So listed as having a FRISK score of 2 is iMedia Brands - the parent corporation of ShopHQ. A FRISK score of 2 means that the probability of filing for bankruptcy in the next year is anywhere from 4% to 9.99%.

Given that ShopHQ's financials have been bad for more than a year, things don't look so good.

Another company which is new on the list with a FRISK score of 2 is Caleres, which is the parent shoe corporation that owns Naturalizer, Bzees, Vionic, Ryka, Sam Edelman, and the Famous Footwear stores. Those brands are also sold HSN and QVC.

[deeva]

I was surprised to see Michaels, the Container Store and Wayfair on the list. 
But thinking about it, Michaels has been inundating me with emails lately. 

[Shelbelle]

I have been receiving tons and tons of emails from Wayfair. 

[drizzellla]

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@deeva wrote:

I was surprised to see Michaels, the Container Store and Wayfair on the list. 
But thinking about it, Michaels has been inundating me with emails lately. 

That is interesting. Michael's just built a brand new huge store about 1 mile from my house. They moved from an excellent location to a harder location to access.

Guess they wanted new and bigger. But now the old store is empty and it was quite big.

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[millieshops]

@deeva There's a very large Container Store near me where I've never seen it busy after its first few months.  

Makes sense to me -  I did shop there a few times in their early months.  Haven't been back inside since.

[Reever]

My fear is this is just the tip of the iceburg.  The economic carnage will really rear its head after Christmas with many other retailers closing down.  I dont think SEARS will survive. I also am worried about Kohls and Best Buy Electronics.   The days of heading to the mall may be coming to an end.    The question is what will America do with so much wasted retail real estate ?

[banned again]

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@TY wrote:

Another company which is new on the list with a FRISK score of 2 is Caleres, which is the parent shoe corporation that owns Naturalizer, Bzees, Vionic, Ryka, Sam Edelman, and the Famous Footwear stores. Those brands are also sold HSN and QVC.

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Thank you, now we know why QVC has Naturalizer returning on Saturday and a TSV from one of these brands every week. Their stores are closed and QVC is keeping them afloat. Look for Lifestride to return to QVC as well.

[Spurt]

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@Reever wrote:

My fear is this is just the tip of the iceburg.  The economic carnage will really rear its head after Christmas with many other retailers closing down.  I dont think SEARS will survive. I also am worried about Kohls and Best Buy Electronics.   The days of heading to the mall may be coming to an end.    The question is what will America do with so much wasted retail real estate ?

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@Reever 

Best Buy is not on the list...and they've done well the last few quarters, and even better than expected in the 4th quarter for 2019.....they changed the way they did business (previously they were basically the show room where people went to find out about an electronic but customers made purchases elsewhere--so they changed their strategy, lowered some prices and have been doing pretty well).....

Enterprise Comparable Sales Increased 3.2%

GAAP Diluted EPS Increased 6% to $2.84

Non-GAAP Diluted EPS Increased 7% to $2.90

[Kachina624]

ShopHQ has given the appearance of being very unstable for years; changing management, hosts (hiring, firing, rehiring), even the company name.  I got disgusted and left as a customer several years ago.  The quality of the operation and it's merchandise has plummeted.  Heading for bankruptcy?  I'm amazed they're not already there.

[Reever]

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@Kachina624 wrote:

ShopHQ has given the appearance of being very unstable for years; changing management, hosts (hiring, firing, rehiring), even the company name.  I got disgusted and left as a customer several years ago.  The quality of the operation and it's merchandise has plummeted.  Heading for bankruptcy?  I'm amazed they're not already there.

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They used to have the backing of NBC but I dont know who owns them now.