Children’s Place reported a wider-than-expected loss and a 12% sales decline for its second quarter amid a decrease in back-to-school spending that started in July.
As we approach the end of summer, most retailers have realized that the impact of the pandemic will be long-lasting, especially when it comes to shopping in-store.
Retailers whose businesses have been devastated by the pandemic but who have enough cash on hand to remain in operation through the holidays will do so.