Coronavirus closings: Macy’s, Apple, Sephora say they’ll reopen soon. But will they?
While it is impossible to forecast the recovery once the coronavirus crises has passed, you can easily see the result will be an impact on many store chains from restaurants to clothing retailers. The question is will shopping habits be permanently impacted?
Sears, JCPenney, Neiman Marcus and J. Crew were some of the most distressed companies prior to the outbreak, according to analysts. Forever XXI was in the process of being bought by Simon Shopping Centers.
The Cheesecake Factory has seen a decline in same store sales decline as far back as August 2017. Most recently the CEO sent a letter to all the property owners saying they are unable to pay April’s rent at all 300 of their locations.
Sephora, a subsidiary of LVMH, announced that all stores in the U.S. and Canada will close indefinitely due to the spread of COVID-19.
We are all buying everything on line. Parking at my nearest malls has always been a challenge. Unless you just like window shopping why would you go to a mall? I’m not the only person asking this question. I will miss JCPenny.
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