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Zorro

(15,740 posts)
Wed Apr 29, 2020, 06:37 PM Apr 2020

The 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 nation’s 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 nation’s 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/

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The iconic brands that could disappear because of coronavirus (Original Post) Zorro Apr 2020 OP
Several have heard the death knell well before now (Kmart and sadly, Sears and others) hlthe2b Apr 2020 #1
Those same big three mentioned are not caring for their employees BigmanPigman Apr 2020 #2
Going to be very hard on big name safeinOhio Apr 2020 #3
Retail has been dying a slow death for years customerserviceguy Apr 2020 #4
Those businesses that don't make it likely had comorbidities SoonerPride Apr 2020 #5

hlthe2b

(102,239 posts)
1. Several have heard the death knell well before now (Kmart and sadly, Sears and others)
Wed Apr 29, 2020, 06:45 PM
Apr 2020

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.

SoonerPride

(12,286 posts)
5. Those businesses that don't make it likely had comorbidities
Wed Apr 29, 2020, 10:58 PM
Apr 2020

Shrinking foot traffic
High leveraged debt
Inability to pivot to the changes in customer preferences
Brick and mortar locations

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