They overbuilt because if a competitor opened a store, they’d open on right next to it…
That strategy was never going to be profitable, they were trying to run competitors out of business.
Most of those stores were going. To close for one reason or another, the growth wasn’t sustainable but it made stock prices go up and then they had to invent a reason to close store that would keep stock prices high.
They overbuilt because if a competitor opened a store, they’d open on right next to it…
That strategy was never going to be profitable, they were trying to run competitors out of business.
Most of those stores were going. To close for one reason or another, the growth wasn’t sustainable but it made stock prices go up and then they had to invent a reason to close store that would keep stock prices high.
Yeah at some point the metric people used to value a stock was Square footage space, but that rule broke a long time ago.