Tuesday, 15 Jun 2021

What Happens To The Unsold Fashion Merchandise Sitting In Stores Closed By Coronavirus?


We are now three weeks into the COVID-19 pandemic. Major stores are now laying off employees for the duration—however long it may be. No one knew what to expect initially, but we now see the coronavirus spreading steadily across the country and affecting many more people than ever imagined. Some companies like Tapestry, Saks Fifth Avenue and Hudson Bay, Ralph Lauren, Capri Holdings and Michael Kors, as well as wealthy individuals like Bill Gates, are donating money. These efforts all try to alleviate the stress on our healthcare system and offer assistance to those currently unemployed.

But for retailers that have closed most stores, there is another source of stress on their operations. The merchandise that has been hanging on the rack for the past three weeks is aging, losing value and creating problems as more merchandise is piling up in warehouses to be sold after Easter.

Walter Loeb
I cover major developments in the retail industry.

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