US retailers face crushing blow from pandemic

Brick-and-mortar US retailers, challenged by growing online sales, now face a new and potentially crushing foe: the coronavirus pandemic.Major department store chains have closed stores to limit the spread of the disease, cut executive pay, furloughed workers and borrowed heavily.But it may not be enough to counter the slide in sales as buyers follow government-imposed directives to stay home.There could be more than 15,000 store closures announced by retailers in 2020 due, in large part, to the coronavirus, Deborah Weinswig, CEO and founder of retail advisory and research firm Coresight Resea…

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