KeyBanc Capital Markets reportedly predicts that wearing masks to fight against the spread of the COVID-19 might not only be a wise move for your healthy, but it also may give a boost to some retailers.
Masks could be a $9 billion opportunity, Barron’s recently cited analyst Edward Yruma as writing.
A wide art of traditional apparel and accessory companies, and even athletic companies, all have boosted international production of masks, overcoming initial scarcity, Barron’s said.
Yruma said Gap (GPS) has been “early to have a broad availability of masks,” with its Old Navy, Athleta, and Banana Republic brands selling them since May (and seeing them almost immediately sell out).
“Gap is one of the first mass retailers to have broad availability of masks at attractive price points; we are particularly bullish on the opportunity at Old Navy, which is selling masks for only $2.50.”
Meanwhile, Yruma said Revolve Group (RVLV) has been able to charge higher prices for more fashionable masks.
Finally, Etsy (ETSY) enjoyed huge surges in the spring, when stay-at-home orders spread. Yruma believes that “a re-ramp in the mask business may drive more consistent results,” and he raised his price target to $115 a share from $90 to account for his higher earnings estimates.
For his part, President Donald Trump has said he has no problem with masks – he looks good in one, "like the Lone Ranger," he said – but he adds a national mask mandate is not necessary.
"I don't know if you need mandatory [masks], because you have many places in the country where people stay very long distance, you talk about social distancing," Trump told Fox Business' Blake Berman in a recent exclusive interview.
"But I'm all for masks. I think masks are good. I would wear [one] – if I were in a group of people and I was close I have. I mean, people have seen me wearing one, if I'm in a group of people where we're not, you know, 10 feet away."
Trump noted, as president, he and everyone around him is tested frequently and socially distance, so masks are less imperative for him.
"Usually I'm not in that position and everyone's tested because I'm the president," Trump said. "They get tested before they see me, but if I were in a tight situation with people, I would absolutely."
Trump joked he looks like the Lone Ranger in his black mask he wears when necessary.
"I sort of like the way I looked, O.K.? I thought it was O.K.," he said. "It was a dark black mask, and I thought it looked O.K. It looked like the Lone Ranger. But no, I have no problem with that. I think, if people feel good about it, they should do it."
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