Lands’ End
This retail company specializes in clothing, luggage, and home furnishings. However, customers don’t seem to appreciate this anymore. According to CheatSheet, Lands’ End’s association with Sears is the original cause of its troubles. Sear’s went on another direction in 2013. The sales of the catalog items are strong, according to the website. However, Federica Marchionni, Lands’ End’s former CEO, made some fatal mistakes.
Lands’ End
According to CheatSheet, one such brand was the youthful Canvas brand which aimed to attract consumers who were fashion-forward. Canvas wanted to feature clothes in “designer styles to relaxed looks.” However, the brand, despite being trendy did not get its target clientele onboard. Our favorite guitar supplier may have better chances of recovering.
Guitar Center
In 2018, this supplier of rock n’ roll instruments was given a year to pay a $900 million debt. The company has been around for over 50 years now, but it seems like people don’t buy as many guitars as they used to. CheatSheet reported that Guitar Center’s sales for electric guitars fell 36 percent from 2005 to 2016.
Guitar Center
This instrument retailer may be experiencing some financial problems, but it still plans to open new stores. It managed to temporarily solve the crisis by getting emergency loans. Its EVP of merchandising and e-commerce said in an interview with Forbes that the company was in transition and that it was still going strong.
