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‘Hideous’ April Menaces U.S. Retailers That Lost 98% of Traffic
- Online sales aren’t offsetting loss of stores, analyst says
- Economist says ‘far more’ stores are closed now than in March
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American retailers had a historic collapse in March. April may be much worse.
U.S. retail sales plunged 8.7% from February, the worst drop on record, as the nation’s malls and store networks went dark in response to the coronavirus outbreak. With furloughs and layoffs spreading across the industry, more than 1.4 million retail workers are without paychecks.