Coronavirus: ‘There’s Going To Be A Generalized Crushing Of Retailers In America’

When all is said and done, Amazon may not turn out to be the killer of some major retail chains. Stores across the United States are currently shuttered as state governments order people to stay home and businesses to close to stop the spread of the deadly coronavirus. While retailers such as Dick’s Sporting Goods, Abercrombie & Fitch and others expect to reopen their stores in the coming weeks many experts are unsure if they will be delayed even further into May or June as infections in the U.S. continue to spike. Moreover, it’s unclear what the appetite will be for consumers to spend once stores do reopen seeing as they may have been laid off from work or are paying back debts incurred during said layoffs. That is all a recipe for disaster for a retail sector — mostly the department store space — that continues to be saddled with excess bank debt and a burdensome number of costly leases. Read more at Yahoo Finance.