10 Industries On Life Support
Formalwear and costume rental
Proms and weddings may be joyous occasions, but there isn't much smiling these days for those in the business of formalwear and costume rentals.
The old-school business model was fairly simple. Important events demanded expensive attire few would wear often enough to afford and, therefore, rented the outfit instead. There are new ways these days to go black tie, however.
"China and other low-cost apparel manufacturing countries have been able to produce lower-cost suits and costumes for the U.S.," van Beeck says.As the cost is driven down, consumers are increasingly weighing the value of renting an outfit or, for slightly more, buying one to keep and reuse. Not everyone is suffering equally. Men's Wearhouse (MW), with about 50% of the market, is the largest in the marketplace, and that scale gives it a leg up on the competition, according to van Beeck. "But the industry as a whole, when you include all of the smaller players, is getting hit pretty hard," he says. IBISWorld says the industry pulled in roughly $736 million in revenue last year, a decline of 35% from 2000. It forecasts a further revenue drop of 14.6% through 2016.
Select the service that is right for you!COMPARE ALL SERVICES
Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV