Given that all Best Buy’s physical stores were closed for six weeks of the quarter and that it sells mostly bigger ticket discretionary products, a sales decline of 6.3% is nothing short of a remarkable result.
Retail landlords nationwide have been telling tenants to obey their leases and pay their rents because the landlords themselves have to continue to maintain properties and pay their taxes and mortgages.
With its stores dark for half the quarter due to the COVID-19 pandemic and a weak e-commerce presence (or none at all for some of its brands), The TJX Cos. posted a much wider first-quarter loss than expected.
BJ's Wholesale Club reported profit and sales that topped analyst expectations amid surging online sales and a spike in new members during the pandemic.
