Against a backdrop of mass store closures and stay-at-home orders for much of the U.S., Fitch Ratings estimates discretionary retail spending to decline by up to 50% for the first half of 2020, according to an emailed report.
With a consumer downturn increasingly likely, Fitch estimates sales to remain in decline during the second-half of 2020, and for sales next year to be down as much as 10% from 2019 levels.. . . more
