Houston Retail Companies affected by Covid (Richmond, Gorman: mattress, home, bankruptcy)

[ParaguaneroSwag]

Through Covid, one of the hardest hit industries has obviously been retail. Retail's hit was up there with airlines and hospitality. Except unlike airlines, retail isn't backed by the government in the same way. Even before cover altogether, this was an industry in an influx that obviously got hammered when it came around. Here's how some of the largest Houston based retailers faired.

Men's Warehouse/Jos. A Bank - The nation's leading tuxedo retailer was in a bit of a frenzy for a few years due to a decline in tux wear. Covid then struck it down and the company was forced into bankruptcy. Fortunately, it emerged from bankruptcy before the holidays and is adjusting both financially and product wise for to keep up with modern trends. It also went private company, given their already nation wide presence, it benefits from being the sole owner. Like many stores, it is shrinking it's portfolio, but improving its branding with a new gen store.

Academy Sports + Outdoors - Unlike most of the stores on this list, Academy completely boomed as a result of Covid. The demand for home fitness equipment and outdoor activities driven by quarantine and ongoing fear of crowds benefited Academy smoothly. As a result, the company went public and plans on rapid growth starting in 2022. The company also launched a "next gen" store (as seen in the new Richmond location) and improved its online store and fan shop

Mattress Firm - The nation's leading mattress retailer didn't have as much of an effect compared to other companies on the list. Didn't boom like Academy nor get dipped like Stage. This is probably due to mattresses being a necessity item (which are the least impacted during recessions).

Stage Gorman's - Having already been in a frenzy for a few years, Covid killed the company and all nearly 800 department stores along with it. Dissolved with bankruptcy.

Francesca's - The fate of this one is still uncertain. While it emerged from bankruptcy, the future of the company and its 700+ stores has an uncertain future. Wether the company dissolves or not, its store portfolio is shrinking.

[astrohip]

Originally Posted by ParaguaneroSwag

Stage Gorman's - Having already been in a frenzy for a few years, Covid killed the company and all nearly 800 department stores along with it. Dissolved with bankruptcy.

It's "Gordmans", with a "d" and no apostrophe. They were already on life-support ("frenzy"?), and pulling the plug would have happened regardless. In a sense, Covid did them a favor. It gave them an excuse to just shut the doors, rather than struggle with no hope.

[SanJac]

Never heard of the last 2 places...are those Houston retail companies?

Pier 1 closed but that chain was not based in Houston.

[ParaguaneroSwag]

Originally Posted by SanJac

Never heard of the last 2 places...are those Houston retail companies?

Pier 1 closed but that chain was not based in Houston.

Yes they are. That’s why they’re on the list

Francesca’s is a women’s boutique in malls. Stage Stores is a department stores notable for having locations in rural areas.