In Washington DC today, the Senate moved towards a vote on the coronavirus rescue package. At $2 trillion, it’s the largest aid deal in U.S. history, and would send direct payments to taxpayers, authorize loans to businesses, and provide relief to hospitals reeling from the COVID-19 pandemic.
The widening coronavirus pandemic could permanently shutter 15,000 stores across the U.S., according to a new analysis. That would top the previous high for retail industry closures set last year, when more than 9,500 stores shut their doors.
Jennifer Rockwell was working in her secondhand apparel shop in downtown Portland, Maine, last week, scrambling to figure out how she could sell online after closing down just days before. The store, Material Objects, is all set for the spring fashion season and normally bustling with shoppers who come in frequently to discover her most recent finds.
Elizabeth Savetsky, an influencer who lives in New York, has kept her Instagram feed pristine up until now. In every past photo, she wears an enviable outfit with perfectly done hair and, occasionally, her smiling, tall plastic surgeon husband. They’re photos that make people wish they could live in her shoes.
Over the past five days, executives from the largest American clothing brands and department stores have been engaged in urgent late-night phone calls and marathon video conferences in which they game out scenarios for their future in a world with a coronavirus pandemic.
As the coronavirus pandemic has taken hold of the U.S. over the last week, designers have been outspoken about the challenges facing the fashion industry in this crisis. Citing impending cash flow issues for brands up and down the price spectrum Prabal Gurung told Vogue that “this situation will not be fixed by a sale.”
The rapid spread of COVID-19 presents an unprecedented challenge to people across the globe. Along with its tragic human toll, the virus has provoked mass panic, sending the markets tumbling to historic lows and causing dramatic shortages in products even tangentially related to the outbreak.
Is it safe to use the service as the world responds to the pandemic? The global coronavirus crisis has directly affected many industries, and some of fashion’s go-to rental-clothing services are being examined through a closer lens.
New York Gov. Andrew Cuomo ordered non-essential businesses to keep 100% of their workforce at home to try to contain the fast-spreading COVID-19 outbreak across the state. “This is the most drastic action we can take,” Cuomo said Friday.
California Governor Gavin Newsom on Thursday issued a statewide order for all resident to ‘stay at home’ amid a coronavirus outbreak. “We need to bend the curve in the state of California,” Governor Gavin Newsom said, as he announced a statewide order for Californians to stay home.
From social distancing to scores of employees transitioning to working from home, the coronavirus crisis is changing our daily habits, including how we shop. To prevent further spreading of the disease, some fashion retailers are adopting precautionary measures early by closing their physical storefronts for the time being.
Madewell In an email sent to shoppers on March 16, Madewell announced it would close all stores and cancel all in-store community events in the US through March 28. “We are thankful for our store teams and will continue to pay them through this period,” the email reads.
Monday, March 16: President Trump released The President’s Coronavirus Guidelines for America – 15 Days to Slow the Spread. Philadelphia announced new restrictions on business activity, closing all but “essential commercial establishments.” Read more. NRF and RILA jointly sent a letter to leadership at the National Governors Association (NGA) and U.S.
For a handful of retailers, the coronavirus has been a sales blessing — Costco, Walmart, Target, and Amazon have all seen customers flood their physical and digital stores as they stock up for what may be weeks or months.
When the first flames of a trade war between the U.S. and China were stoked in the last two years, a number of brands and manufacturers began rethinking their major investment in China, citing the potentially prohibitive tariffs that might emerge.
2019 brought with it record store closures in the retail industry in the U.S. 2020 looks like it is about to be a lot worse. With a coronavirus pandemic hitting many consumers across America, spurring them to stock up at the grocery store on essentials before they hole up at home to wait things out, many companies already struggling to keep their lights on could be forced to turn them off, for good.
Urban Outfitters announced on March 14 it will temporarily close all of its store locations “until further notice,” according to a notice posted on its website. The closures are effective beginning March 15, and employees at the company’s more than 200 stores in the US, Canada, and Europe will be paid for lost shifts.
The novel coronavirus outbreak that originated in China is in the early stages of spreading in the U.S. There are now more than 200 confirmed cases in the U.S. and at least 12 people have died. Both numbers could rise rapidly in the coming days and weeks as the virus continues to spread.
Unprecedented. In my over three decades of covering and working in the retail industry, we have never seen anything like the impact of Coronavirus on the global retail scene. 9/11 temporarily ground business in the United States to a halt as fear and uncertainty gripped the country.
As with major weather events, retailers’ top priority as COVID-19 has spread globally in recent weeks is the health and safety of their workers and customers. Those concerns early in the year led Levi’s, and many other retailers, to shutter stores within China and restrict employee travel into and out of the country.
Nearly six in 10 people said they plan to avoid public areas such as shopping malls if the coronavirus outbreak worsens, according to a survey by Coresight Research. Restaurants, movie theaters, and sports events could also be impacted. Visit Business Insider’s homepage for more stories.
The growing coronavirus threat chased the luxury fashion world from Milan to Paris. A real crisis looms for designers, retailers and shoppers. PARIS – Twice a year, the luxury fashion houses of the world present their ready-to-wear clothing for the coming season.
It was an eery sight: On Monday, Giorgio Armani held its Milan Fashion Week show in a vacant theater, and at the end, Mr. Armani himself took a bow in front of rows of empty seats. The night before the show, it had become clear that coronavirus had hit Italy hard, with hundreds of new cases confirmed.
China’s outbreak of Coronavirus has fashion companies scrambling. The store closures and travel restrictions it’s causing are already putting a dent in sales inside and outside the country. Just as disruptive may be the impact the virus is having behind the scenes in global supply chains.