The coronavirus pandemic is making an already rocky situation for shopping centers even rockier, CNBC's Jim Cramer said Wednesday.
As department stores such as Macy's , Kohl's and others face mounting challenges, the pandemic is shining a light on the dire situation facing shopping mall storefronts, the " Mad Money " host said.
The comments came after Victoria's Secret, the women's lingerie brand in the middle of a private acquisition, received unsettling news. Sycamore Partners, which agreed in February to acquire the apparel maker from L Brands , filed suit earlier that day seeking to abandon the deal . Sycamore was slated to receive majority control of Victoria's Secret for $525 million.
And here's another article:
ROC Made Goods to launch shopping guide for Rochester artists and businesses | RochesterFirst
ROCHESTER, N.Y. (WROC) — Grace Bellanca started “ROC Made Goods” four years as a “pop up homemade goods market.
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Bellanca worked in the service industry, working as a bar manager. Then her and a small friend wanted to showcase their “little hidden talents.” Bringing one another friend who is a photographer. Bellanca felt there was a niche that could be filled for these kind of homemade goods.
The project may have started with just her friends, but now they host 45 artists per show. All of them are local, and they make goods ranging from wood working builds, to ceramics, and to home decor.
NRF | 3 ways the coronavirus is impacting consumers' shopping behavior
To understand how the pandemic is shifting consumers' outlook and shopping behavior, we looked at data from Prosper Insights & Analytics' April survey of more than 8,000 consumers and NRF's own consumer polls and identified three emerging trends.
With many consumers unable or unwilling to shop in stores right now, the focus on getting items into their homes, and hands, is more intense than ever. That's particularly true for those who carry groceries. Home delivery service Instacart is looking to hire 300,000 more employees. Amazon, Giant and Kroger are converting some locations into full-time distribution centers. Lidl is repurposing food trucks to deliver groceries to seniors in retirement communities.
Grocery stores consider online-only shopping amid coronavirus outbreak
Some supermarkets are closing to customers and offering only online shopping or curbside pick-up amid growing concerns about worker safety and potential food shortages during the coronavirus pandemic .
Select Whole Foods locations in Baltimore, New York City and San Francisco are only taking online orders, while Kroger is testing a location in Cincinnati that only offers curbside pick-up.
Large grocery chains like Walmart, Target and Costco have already made changes such as giving health workers and first responders priority to enter stores, offering elderly-only shopping hours and metering the amount of customers allowed in the store at a given time. Officials in one Maryland county have asked residents to voluntarily limit trips for groceries to once every 5 days on a specific schedule based on the first letter of their last names.
While you're here, how about this:
Consumers 'fearful' and anxious when shopping at physical grocery stores amid coronavirus pandemic
From March 27 to March 28, 2020, C+R surveyed 2,012 consumers about how their shopping habits, budgets, experiences, and diets have changed.
Nearly three-quarters (73%) said they were making fewer trips to the grocery stores since COVID-19 hit (down from an average of 2.3 trips to 1 trip per week), and 60% said they were "fearful" or had " a sense of anxiety" when shopping at physical grocery stores, with more than one-third (35%) believing stores were not doing enough to protect customers from coronavirus and 50% believing stores were not doing enough to protect employees.
Majority of Chattanoogans don't wear masks when grocery shopping amid COVID-19 pandemic, survey
Despite appeals by government and health officials for persons to wear masks or facial shields when shopping among other persons, a majority of Chattanooga grocery shoppers visiting local supermarkets this week did not wear any facial covering, according to a random sampling of shoppers at 18 Chattanooga grocery stores.
Among 737 shoppers surveyed Sunday through Wednesday at local Food City, Walmart, Publix, Whole Foods, Aldi, Target and Sav-A-Lot stores, less than 42% were wearing masks while shopping for groceries.
Shopping restrictions relaxed | Covid-19 | palestineherald.com
Happening on Twitter
Why @JimCramer says it's a great time to buy $TSLA: https://t.co/F0b6ijF66V TheStreet (from New York, NY) Tue Apr 21 16:32:25 +0000 2020
Charts show the US could be able to reopen for business in three weeks, Jim Cramer says https://t.co/8ri8Z52bFv CNBC (from Englewood Cliffs, NJ) Tue Apr 21 23:30:53 +0000 2020
I'm still very worried about this pandemic, but the charts, as interpreted by Larry Williams, suggest that the U.S.… https://t.co/dvID4yaKby MadMoneyOnCNBC Wed Apr 22 01:20:07 +0000 2020
Stocks of 'good corporate citizens' such as Chipotle, Netflix are thriving, Jim Cramer says https://t.co/CBSwKKXM4T CNBC (from Englewood Cliffs, NJ) Wed Apr 22 22:46:49 +0000 2020
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