In 2020’s first quarter, Sephora threatened to close the 600 shops it operates inside J.C. Penney stores before coming to an agreement to keep them open.
COVID-19 has forced many U.S. consumers to alter their shopping preferences. Consumers are now finding themselves shopping with what is available versus what is preferred.
Approximately 60% of retailers reported that they could not pay April rent, with many asking for three months of rent abatement—and several claimed they could not pay rent until stores reopened.