Retailers have seen higher demand, with online sales booming, but also higher costs related to the pandemic.
With the coronavirus causing unprecedented financial disruptions and a major shift in consumer spending, some retailers are seeing sales surge amid heightened demand but also face higher costs. Here’s what happened to major retailers in the first quarter during wide scale economic shutdowns.... [+]As retailers adjusted to widespread coronavirus lockdown restrictions many experienced a huge surge in the growth of digital orders and e-commerce across the board.
Despite higher demand for groceries and household essentials during the pandemic, the coronavirus crisis haswith many shoppers skipping higher-margin items like apparel. The company has warned of increased costs related to the coronavirus—including higher pay for workers, store cleaning and other expenses—which have so far totaled roughly $500 million, CEO Brian Cornell said during the company’s earnings call.
Malaysia Latest News, Malaysia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Coronavirus live updates: U.S. cases surpass 1.5 million; retail earnings show strong salesThe coronavirus has infected more than 4.82 million people globally, and killed at least 318,851 people as of Tuesday.
Read more »
Kohl's sales tank almost 44% as coronavirus slams the retailerKohl's net sales tanked 43.5% during the first quarter, the company said Tuesday, as its stores were forced temporarily shut due to the Covid-19 crisis.
Read more »
Target's Average Day In April Was Bigger Than Cyber MondayTarget saw its online sales jump 141% in the past three months. 'On an average day in April, our operations were filling many more items and orders than last year's Cyber Monday,' CEO Brian Cornell said.
Read more »
Target's digital sales fuel first-quarter sales gain, but at a hefty priceThe big-box retailer's stores have remained open across the country during the coronavirus pandemic, but the crisis has squeezed profits.
Read more »
KitchenAid, Cuisinart, Staub, and More Are Up to 70% Off at Wayfair Right NowHere’s what we’re shopping from the retailer's massive Memorial Day sale.
Read more »
Home Depot's stock falls after profit misses, while revenue and same-store sales beatShares of Home Depot Inc. undefined fell 2.5% in premarket trading Tuesday, after the home improvement retailer reported a fiscal first-quarter profit that...
Read more »