News

Study: Grocery spending remains high, but purchases shift
The “extreme buying” peak of the COVID-19 pandemic has fallen, but the average household grocery spend remains at elevated levels.
Big Lots raises funds with sale/leaseback agreements for DCs
Big Lots Inc. has entered into sale and leaseback agreements on its four company-owned distribution centers.

Acosta: Majority of consumers have changed grocery shopping habits amid COVID-19

The COVID-19 pandemic is driving more consumers to something that had previously been slow to catch on: online grocery ordering.
First Look: Jeff Bezos visits Amazon warehouse, Whole Foods Market store

Amazon founder and CEO Jeff Bezos made a surprise visit to an Amazon fulfillment center and a Whole Foods Market amid ongoing efforts by the company to ensure its workers’ safety amid the COVID-19 crisis.
Study: Majority of Americans think stores should reopen by end of May

A new survey has some hopeful findings for retailers with shuttered stores even as it shows an increased level of consumer concern about COVID-19.
Ulta Beauty, At Home in additional measures to reduce costs; CEOs forgo salaries

Ulta Beauty and At Home Group have joined the growing list of retailers who are taking additional measures to shore up their finances and reduce expenses as their stores remain closed during the COVID-19 pandemic.
PREIT furloughs 37% of its workforce

Large mall owner PREIT girded itself further against the coronavirus shutdown by furloughing 62 employees at its properties and 41 corporate office employees.
Ralph Lauren forgoing salary for full year as more companies announce pay cuts

More retail companies are furloughing employees and announcing executive pay cuts — some to greater degrees than others — as stores remain closed indefinitely during the COVID-19 pandemic.
Fitch Ratings: The retailers most vulnerable to current spending downtown include…

The COVID-19 pandemic is upending U.S. retail discretionary spending, which is projected to decline by 40% to 50% in the first half of 2020.
McDonald’s cutting about $1 billion in spending

McDonald’s is slashing spending and has withdrawn its 2020 outlook and long-term forecast amid the uncertainty due to the COVID-19 pandemic and its impact on the economy.