Burl multi-year run may be coming to an end
Long track record of increasing revenue but not positioned for the economy we are heading into. Here are some reasons why:
1) No online presence. Discontinued online store last year. Speculating here but I imagine it would be hard to manage the inventory of an online store based on the wide variety of items they have which are constantly changing.
1a) Lost customers to online shopping. Downtrend on google trends ever since the economy shut down. How many people will forget about them by the time stores reopen? Also, how many people will still have money to shop?
2) Strapped for cash. Looks like they will have to raise money to pay the rents on all their brick and mortar locations.
Broke straight through multi-year support. Might retest but I doubt it will go up much more from here, especially if the economy remains closed longer. Earnings early June.
Let me know in the comments how I could be wrong on this.
1) No online presence. Discontinued online store last year. Speculating here but I imagine it would be hard to manage the inventory of an online store based on the wide variety of items they have which are constantly changing.
1a) Lost customers to online shopping. Downtrend on google trends ever since the economy shut down. How many people will forget about them by the time stores reopen? Also, how many people will still have money to shop?
2) Strapped for cash. Looks like they will have to raise money to pay the rents on all their brick and mortar locations.
Broke straight through multi-year support. Might retest but I doubt it will go up much more from here, especially if the economy remains closed longer. Earnings early June.
Let me know in the comments how I could be wrong on this.