The coronavirus pandemic represents an “existential threat” to the complete retail sector and there will be a “fundamental changes” to the for a longer time-phrase company design, Steve Sadove, former chairman and CEO of Saks, stated in a Thursday CNBC “Squawk Box” interview.
E-Commerce Doesn’t Offset Decline Of Foot Website traffic
It is practically difficult to sustain a company with zero revenue, and foot visitors in malls is down as much as 97% year-around-year, Sadove stated.
For these that can sell on line, e-commerce revenue is falling significantly small of offsetting shed income in shops, he stated.
Hghly leveraged stores