Introduction
At Home is at the intersection of two powerful trends that are shaping the US economy, PE-backed financial engineering and digital disruption. The brick-and-mortar retail landscape is battle ground competing for market share against digital-native disruptors that offer innovation and increasingly superior economics. Even specialized players with good value propositions are starting to fall in the shadow of eCommerce.
We learned this the hard way recently on Destination Maternity (DEST), which at one point had great turn-around potential yet ended in disaster despite a new slate of directors and management, and activist