As is said in the Bible, unless God builds the city. Or, unless, God's chosen ones are instructed to guard the city, it is in vain that the city is guared. Translation, no city and no company is safe, unless directed by God.
Looking back in time, we see the old Levitz furniture warehouse stock. Once a high PE, high flyer. A recession KILLED IT. Nothing worse than heating a giant warehouse full of employees with NOTHING TO DO. Let's face it, local governments TAX THE CRAP out of anything they think will bear it. HOME DEPOT is a classical case. THINGS HAVE TO MOVE at HOME DEPOT! If they don't, losses come down to the bottom line FAST. This is why many stores are leased - so they can escape by going somewhere else.
Little local empires keep taxing and pushing and buying new schools. For example, Oak Park, IL, is one of the highest taxes suburbs in Illinois. Of course, there are no Home Depot stores in Oak Park. THERE NEVER WILL BE!
Still, among the governmental beasties, there is always another EMPIRE BUILDER coming and getting elected. That is why any large warehouse chain must be ready to go - whenever conditions change adversely (whenever the governmental beasties consider them to be the source of solution to all their school problems, which are never ending).