Retail News

Retail industry is in the middle of ‘a hideous April’

Fortune 04/15/2020

Retail sales in March fell a record 8.7 percent as many stores closed their doors near the end of the month. With stores remaining closed, the results are expected to be even worse at the end of April. “The whole month looks like it will be a write-off for retail, with stores remaining closed for the duration. Panic buying has now largely subsided and will not lift sales to the same degree,” said Neil Saunders, managing director at GlobalData Retail. “As ugly as March was, it appears to be a prelude to a hideous April.”

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