The possibility of large-scale store shutdowns is increasing as massive social distancing efforts continue in the U.S.
The implications for the retail sector are
enormous, particularly for department store chains which have little
margin for financial downturns. Anecdotal reports have already suggested
huge drops in traffic.
Sector watch: J.C. Penney (JCP -23.1%), Macy’s (M -20.2%), Kohl’s (KSS -16.4%), Nordstrom (JWN -15.4%) and Dillard’s (DDS -8.8%).
And the landlords: Tanger Factory (SKT -11.5%), Simon Property (SPG -15.5%), Macerich (MAC -11.9%), Kimco (KIM -14.1%), EPR Properties (EPR -36.3%), Whitestone REIT (WSR -18.2%), Brixmor (BRX -16.1%), Realty Income (O -7.8%), Vereit (VER -16.2%), Store Capital (STOR -8.9%).
https://seekingalpha.com/news/3551178-department-stores-see-widespread-closings
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