Recession is a hot boardroom topic — let’s hope our political leaders are preparing, too

Recession is a hot boardroom topic — let's hope our political leaders are preparing, too

If businesses are starting to prepare for a recession, Canada’s government should be too, writes Kevin Carmichael. If Vancouver’s Indochino Apparel Inc. is starting to think about a recession, then the rest of us probably should too. Things are rolling at the digital retailer of bespoke suits, shirts and coats for men. Indochino just opened its 50th showroom in two years. The newest one is in Washington’s Georgetown neighbourhood, among the most popular places to spend money in one of the U.S.’s richest metropolitan areas. Indochino CEO Drew Green Postmedia Drew Green, the chief executive, says his closely held company’s compound annual rate of return was almost 50 per cent between 2015 and 2019, and that he’s booked profits for three years in a row. That’s a good look heading into 2020, as investors appear to be losing their taste for digital companies whose strategy for gaining market share is burning cash. The Wall Street Journal reported on Tuesday that Bonobos, a competitor of Indochino’s that Walmart Inc. purchased in 2017 for US$310 million, is cutting a few dozen jobs to help narrow losses. Postmedia Network Canada Corp., which owns the National Post, has a small equity stake in Indochino. “We could be growing at 60 per cent or 70 per cent, but for what?” Green said in a telephone interview last week. “I’m trying to build a multi-generational brand that sustains through generations and you’ve got to be cognizant of how you are investing and in the bottom […]

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