Some Retailers Used The Pandemic To Accelerate Turnaround Plans. Those Stocks Are Getting Rewarded.

Some retailers have used the past year and a half to accelerate turnaround plans and prune fruitless assets while Wall Street wasn’t watching as closely. Companies such as Ralph Lauren and Under Armour are now reaping the benefits of those efforts as shoppers head back to stores to restock their closets — and investors are noticing. According to BMO Capital Markets analyst Simeon Siegel, much of the industry has been shielded by “Covid cover” during the health crisis. With shoppers hunkered down at home, expectations were low. That gave companies time to work outside of the spotlight, making strategic moves like shuttering stores and cutting jobs, he said. Read more at CNBC.