Back-to-School Season in Jeopardy With Retail Imports Plunging
This article is for subscribers only.
The biggest U.S. retail organization is warning that imports are falling sharply -- a sign that the coronavirus outbreak is poised to disrupt the retail cycle this year even after stores eventually reopen.
Imports at container ports for major American retailers fell to the lowest level in five years in March, according to a report by the National Retail Federation and Hackett Associates. Most U.S. retailers deemed nonessential have temporarily closed their stores and are dealing with an excess of inventory and sudden changes in consumer behavior.