A study by analysts at UBS found that 100,000 U.S. retail stores could close by 2025, a number the coronavirus pandemic has sped along, according to a report by USA Today. Get the Full Story Complete the form to unlock this article and enjoy unlimited free access...
COVID-19 social distancing restrictions have shuttered most U.S. malls at a time when they were already hurting, but it’s not clear that merely lifting bans on “nonessential” businesses will help. Our latest PYMNTS COVID-19 Tracker – a survey of thousands of U.S. consumers – found that customers...
Sycamore Partners, the private equity firm seeking to buy out Victoria’s Secret, is now looking at backing out of the deal after the retailer closed its U.S. locations and let go most of its staff in response to the coronavirus pandemic, according to a report...
In a time period dominated by retail sales declines, the hardest hit has been the automotive industry. While March retail sales dropped 8 percent overall, new cars dropped as much as 36.9 percent for some brands as dealerships were shut down due to concerns over...
Some products were just made for these times. Take, for example, The Edge Desk. In January of this year, it was just an interesting, ergonomically designed piece of office furniture. Then came February, March and the COVID-19 crisis – and suddenly the whole definition of...
The retail bankruptcy watch turned to some Wednesday morning quarterbacking this week, as industry experts and observers took turns assessing the current and potential damage to the department store category amid the coronavirus crisis. Get the Full Story Complete the form to unlock this article...
To provide children and families with entertainment amid the coronavirus pandemic, Build-A-Bear Workshop, Inc. has rolled out its Workshop Wednesdays online program. The online resource offers different activities and ways to stay entertained during the week, according to an announcement. Get the Full Story Complete the...
To contend with the COVID-19 pandemic, Macy’s is considering raising up to $5 billion worth of debt. The retailer will look to bring in $3 billion with inventory as collateral, as well as $1 billion to $2 billion with real estate, CNBC reported, citing unnamed...
The retail bankruptcy watch intensified Tuesday (April 21) as the department store sector was hit by reports of yet another major player looking at that option. Lord & Taylor, now joining Neiman Marcus, is considering a bankruptcy filing as the COVID-19 lockdown continues to decimate...
