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Related: Editorials & Other Articles, Issue Forums, Alliance Forums, Region ForumsThe iconic brands that could disappear because of coronavirus
The retail industry, rife with bankruptcies and shuttered stores long before the coronavirus, is facing its biggest test yet.
Lockdowns triggered by the pandemic have forced the temporary closures of 263,000 stores, according to GlobalData Retail, and analysts say it remains to be seen how many will be able to reopen.
A number of the nations most iconic brands are at risk of disappearing, as weeks-long lockdowns and deep economic unrest disrupts consumer spending. More than 100,000 stores could disappear by the end of 2025, according to UBS. There already are signs of distress: Retail sales plummeted 8.7 percent in March, their worst drop on record, and analysts say conditions will only worsen in the coming months.
The crisis accelerates a long-expanding divide between the nations strongest retailers like Amazon, Walmart and Target and its weakest. Department stores and apparel companies have reported huge drops in sales since March, as many Americans hunker down at home. Other sectors, like restaurants and car dealerships, which have notoriously low profit margins, also have been hard-hit.
https://www.washingtonpost.com/business/2020/04/29/which-iconic-brands-could-disappear-because-coronavirus/
hlthe2b
(106,752 posts)but I'm going to really be sad if this takes Macy's under. So much history, tradition, and national presence with their annual parades. It would feel like the loss of a family member.
Restaurants are so vulnerable in good times... Yes, it will be a sad shake-up.
BigmanPigman
(52,357 posts)so a strike is planned for May Day, May 1st.
https://www.democraticunderground.com/?com=view_post&forum=1002&pid=13367212
safeinOhio
(34,312 posts)golf courses, hotels, office buildings and politicians.
customerserviceguy
(25,188 posts)C-19 is just pulling the plug a bit early.
SoonerPride
(12,286 posts)Shrinking foot traffic
High leveraged debt
Inability to pivot to the changes in customer preferences
Brick and mortar locations