The COVID-19 Pandemic has really done quite the number on our economy, especially the retail business. It’s sad to see these once known named Department Stores are closing!
Macy’s has suffered a tremendous loss of $630 Million in the first quarter than compared to a profit of $137 Million in the year-ago quarter. JC-Penny is also suffering huge losses, GAP has lost $932M in a quarter. THIS IS INSANE and HEARTBREAKING for all owners and employees of these businesses. I hope they all can come up with a way to keep their business going or transform to a completely new idea in the “online, virtual” world, just until things get better. However, with these types of losses, not only for retail businesses, but restaurants. It will take YEARS to recover.
There is a resource I’ve come across, which is the COVID Retail Loss Prevention Info Center. They help in managing the safety of retail workers and customers and securing closed stores with the supply chain ensuring products are available for all consumers. Check the link out, they have a couple of items you can download straight to your email: COVID-19 Safety Advice and Tips and 10 Tips for Working from Home.
You are all tired and exhausted from all this madness as much as I am. I can’t wait until the day we no longer have to wear masks or freak out when someone sneezes or coughs, (that is NOT even contagious) There is a lot of hate and disappointment right now in the world. This is the time that we HAVE to come TOGETHER, not against. We’ve already witnessed so many tragedy’s, riots, deaths, etc..
Hope you all have a safe and amazing Fourth of July holiday! I hope you get to spend it with some family and friends!