The coronavirus — an unmitigated disaster for the world and the cause of so much personal suffering — actually boosted the stock market, as well as a lot of fashion, retail and luxury companies. 

Part of that has to do with the low interest rates and trillions of dollars lawmakers used to prop the suddenly shut-down economy. 

And part of it has to do with a change in outlook and attitude. Companies that were constantly chasing the carrot of never-ending growth were forced to stop, re-evaluate and find a new path forward and through the crisis. 

That meant big cost cuts, the jettisoning of non-core businesses, fewer promotions, tighter inventories — and a new corporate look that Wall Street investors are keen on. 

“This is real,” said Simeon Siegel, stock analyst at BMO Capital Markets, of the retail and fashion rally.

“The pandemic provided an opportunity, for those who took it, to refashion their business for the future,” he said. “It allowed everybody to take a minute and reflect on all the decisions being made. The pandemic stopped inertia.” 

Siegel pointed to L Brands Inc., which at least for now is parent to Victoria’s Secret, and Under Armour Inc., which backed away from its bold move in connected fitness, as companies that have made decisive moves. 

“They made very public, very expensive admissions of improvement by closing units, by pulling back on promotions, by selling aspects of their businesses that were not core and essentially by deconstructing the late-cycle decisions that were driven by a sole focus on growth without any care for what it costs,” Siegel said.

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