Friday, May 15, 2020

Coronavirus Finishes the Retail Reckoning That Amazon Started

The Wall Street Journal hurt many retailers. Coronavirus will finish some of them off.

Roughly 100,000 stores are expected to close over the next five years—more than triple the number that shut during the previous recession—as e-commerce jumps to a quarter of U.S. retail sales from 15% last year, UBS estimates. The turbocharged shift to e-commerce is expected to further depress profit margins and accelerate a shakeout in a country that already had too much bricks-and-mortar space for an increasingly digital world.. . . more