Old-style furniture stores were hit hard by the pandemic. In this case, “old-style” refers to those stores that are reliant upon physical foot traffic into a retail location to generate revenue. These companies were obviously adversely impacted by store closures from the virus, but also consumer spending that temporarily dried up. The result is what you can see below, with one example – Bassett Furniture (BSET) – taking a huge beating earlier this year.
The stock has tripled since the bottom, although the trading has been extremely volatile. The stock added