retailers

New York’s Retail Worker Safety Act: What retailers need to know

Rebecca Goldstein and Matthew Holmes discuss what New York’s Retail Worker Safety Act will mean for retailers and compare it to California’s Workplace Violence Prevention Act.

Chain Store Age

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retailers

Conference Tackles Challenges for Food Retailers, HVACR Contractors

Many end users, as well as refrigeration engineers and contractors, attended Food Marketing Institute’s (FMI’s) 2018 Energy & Store Development Conference in Atlanta, looking for advice on how to respond to these trends.




retailers

EIA Identifies Retailers With HFC-Free Refrigeration Systems

The Environmental Investigation Agency (EIA) unveiled a new initiative identifying U.S. retailers committed to taking leadership action to reduce HFCs.




retailers

Food Retailers See Benefits in HVACR Retrofits

Store owners and managers are always looking for ways to lower operating expenses, and their refrigeration systems can be a good place to start.




retailers

Partnership Helps Food Retailers Save Energy

The Copeland-Enersponse collaboration offers a chance for food retailers to improve energy conservation efforts through involvement in demand-response initiatives that assist in stabilizing the power grid during times of high electricity consumption.




retailers

Opportunities for Cannabis retailers to increase ROI by investing in packaging

With April 20 approaching, we look at how cannabis producers can partner with local printers to create high-quality packaging that adheres to local laws and regulations while also establishing brand identity and increasing brand recognition.




retailers

Digimarc, Wipak Partner to Enhance Sustainability for Retailers and Global Brands

Innovative packaging solutions and revolutionary digital watermarking technology come together to power sustainability initiatives for the food and pharmaceutical industries.




retailers

How retailers can navigate the returns dilemma in 2024 and embrace sustainability with advanced route planning

In fact, up until the last few years, this service has traditionally been enjoyed free of charge for the majority of online shoppers.  However, due to an increased desire to reduce the cost impact on a retailer’s revenue, many retailers are now charging  for returns. For example, since the pandemic began, several fast fashion retailers have taken up the practice.




retailers

New Forter report finds UK consumer ‘Trust Premium’ rises, but checkout friction and unfriendly policies are costing British retailers

Forter, the Trust Platform for digital commerce, has released findings from its 2024 Consumer Trust Premium Report, which explores the evolving relationship between consumer shopping habits and brand trust, based on 2,000 survey respondents in the US and UK.




retailers

8 common pain points for retailers preparing for peak season

The team at fulfilmentcrowd – a global fulfilment provider, driven by technology, for high growth omnichannel brands - shares common pain points for retailers as peak season approaches, offering advice on how retailers can salvage a bad peak, including considerations for switching fulfilment provider during mid-season.




retailers

Retailers and malls embrace facial recognition and video analytics for enhanced security and footfall analysis

In the recent 2-3 years, an increasing number of malls and retail chains have adopted real-time video analytics and facial recognition to enhance security, customer experience and footfall analysis.




retailers

Aramex UK: It’s essential for retailers to adopt a flexible and forward-thinking approach over the coming months

Aramex UK, one of the UK’s global logistics and transportation providers, has urged for calm amid British retailers rushing to bring forward their Christmas plans this year due to ongoing trade route disruptions in the Middle East.




retailers

Many retailers offer 'returnless refunds.' Just don't expect them to talk much about it

Returnless refunds are a tool that more retailers are using to keep online shoppers happy and to reduce shipping fees, processing time and other ballooning costs from returned products. Companies such as Amazon, Walmart and Target have decided some items are not worth the cost or hassle of getting back. Think a $20 T-shirt that might cost $30 in shipping and handling to recover.




retailers

No tricks: Half-term Halloween treats retailers to a +17.7% boost to UK store footfall

With Halloween coinciding with school half-term and the religious festival of Diwali this year, UK shoppers embraced spooky season, delivering a boost to in-store shopper traffic, the latest data from Sensormaic Solutions, the leading retail traffic consulting and analytics group from Johnson Controls, shows.




retailers

AI on the frontline: How can retailers outsmart fraudsters in real time?

By Aviram Ganor, General Manager EMEA, Riskified.

Retailers have plenty to keep them awake at night, whether it’s enticing consumers to shop,  utdoing their competition or – most worrying of all – how to ensure their long-term survival in a rocky economy.




retailers

Newsroom: Carvana Now Among Top 10 US Retailers by Ecommerce Sales

Carvana is America’s fastest-growing e-tailer   February 23, 2022 (New York, NY) – Americans have taken to buying cars online, so much so that ecommerce car dealer Carvana is now […]




retailers

Edmonton retailers look for contingency plans ahead of possible Canada Post strike

Small businesses are keeping a close eye on the possibility of job action as they stock their shelves for Black Friday and holiday shopping.



  • News/Canada/Edmonton

retailers

Cosmic Blobs to Target Mass-Market Retailers

The Learning Company and Dassault Systèmes Form Strategic Licensing Agreement




retailers

Braamfontein at standstill as operation sees law enforcement crack down on unsafe buildings and food retailers





retailers

Tax-News.com: Indonesia To Shoulder Retailers' VAT On Rental Costs

The Indonesian Government has legislated to shoulder the value-added tax liability of retail businesses on rent and service charges due between August and October 2021.




retailers

Technology Can Help Retailers Make More Emotional Connections

Annabel Kilner from Made.com explains how winning brands need to go beyond great product to make meaningful emotional connections with customers. ABOUT WIRED RETAIL Experts from the world of retail, mobile payments and ecommerce gathered at the WIRED Retail conference on October 11, 2017 at Kings Place, London. Discover some of the fascinating insights from the speakers here: http://wired.uk/pnudtQ ABOUT WIRED EVENTS WIRED events shine a spotlight on the innovators, inventors and entrepreneurs who are changing our world for the better. Explore this channel for videos showing on-stage talks, behind-the-scenes action, exclusive interviews and performances from our roster of events. Join us as we uncover the most relevant, up-and-coming trends and meet the people building the future. ABOUT WIRED WIRED brings you the future as it happens - the people, the trends, the big ideas that will change our lives. An award-winning printed monthly and online publication. WIRED is an agenda-setting magazine offering brain food on a wide range of topics, from science, technology and business to pop-culture and politics. CONNECT WITH WIRED Web: http://po.st/WiredVideo Twitter: http://po.st/TwitterWired Facebook: http://po.st/FacebookWired Google+: http://po.st/GoogleWired Instagram: http://po.st/InstagramWired Magazine: http://po.st/MagazineWired Newsletter: http://po.st/NewslettersWired




retailers

Retailers report sluggish demand in May

Essentials, consumer durables sell more even as retail segment slows during election season




retailers

On the Effect of Parallel Trade on Manufacturers' and Retailers' Profits in the Pharmaceutical Sector [electronic journal].




retailers

Managing Channel Profits when Retailers have Profitable Outside Options [electronic journal].




retailers

Jewellery retailers fear a lacklustre Akshaya Tritiya this year due to soaring gold prices

Akshaya Tritiya, which falls on May 10 this year, is considered auspicious to buy gold



  • Gold & Silver

retailers

CNG price may rise ₹4-6 on input supply cuts to gas retailers

City gas retailers are forced to buy imported and costlier liquefied natural gas to make up for the shortfall, which will lead to a hike in CNG prices that varies from ₹4-6/kg





retailers

UK retailers warn of ‘imminent collapse’ without more state help

Companies have formed unusual alliance with landlords to lobby for assistance with rental payments




retailers

Retailers, architects, town planners, likely to be registered as MSMEs; govt to ‘examine’ request

Ease of Doing Business for MSMEs: Retailers, architects, town planners have suggested Nitin Gadkari to allow malls resume operations, e-commerce operations for non-essential items, relief in rentals for retailers, extend moratorium period to nine months and more.




retailers

Hong Kong finance chief sees hope for third quarter, but warns return of protests could derail retailers’ prospects

Hong Kong’s financial chief said there could be light at the end of the tunnel for the city’s economy in the third quarter of this year on Sunday, while doubling down on his call for an end to protests, which he warned could further hurt local businesses and restaurants.Writing on his official blog, Financial Secretary Paul Chan Mo-po noted Hong Kong’s coronavirus-ravaged economy had suffered its worst decline on record, shrinking by 8.9 per cent year on year in the first quarter based on his…




retailers

Gadkari tells retailers to learn 'art of living' with coronavirus

Union MinisterNitin Gadkari on Saturday suggested retailers to learn the "art of living" with the coronavirus pandemic while assuring them to look into their demands for MSME status. The minister also assured the retailers to look into their demands of financial aid from the government, which he would put forward to Prime Minister Narendra Modi and Finance Minister Nirmala Sitharaman. He also said that some proposals are under"serious consideration" by the government and asked the retail industry to have a positive outlook. We would have to develop a way forward to live with coronavirus, said Gadkari in a virtual meeting with the Retailers Association of India (RAI). He also assured RAI and Practicing Engineers, Architects and Town Planners Association (India) that their request for registering as MSMEs will be examined expeditiously. These people (retailers) also provide employment to some people and if they get recognition as MSME, then people working under them would get benefits ..




retailers

TECNO launches 'doorstep delivery' with 35,000 retailers




retailers

Request for registering retailers, construction professionals as MSMEs to be examined: Gadkari

Request for registering retailers, construction professionals as MSMEs to be examined: Gadkari




retailers

Lockdown effect: Retailers eye renegotiating contracts at malls

Lockdown effect: Retailers eye renegotiating contracts at malls




retailers

Learn the art of living with Covid-19 pandemic: Nitin Gadkari to retailers

Gadkari also assured the retailers of looking into their demands of financial aid from the government




retailers

Retailers pushing Christmas sales in October

Business Update with Mark Lacter

It's late October, which means  more and more stores are decorating for Christmas. 

Steve Julian:  Business analyst Mark Lacter, whatever happened to "better late than never?" 

Mark Lacter: Steve, retailers never want to sell late because it often means having to reduce the price. They're looking to start out as soon as possible - these last three months represent their biggest payday of the year. And here in California people do seem to be buying stuff - consumer spending has been up for 14 consecutive quarters, going back to the spring of 2009, and taxable sales are up almost 5 percent from the peak levels before the recession. Another good sign is Chapman University's index of consumer sentiment, which is at its highest level since the beginning of the recession in late 2007. All these indicators explain why the state economy is generally outpacing the rest of the nation.

Julian: There has to be a "but" in here someplace…

 Lacter: The "but" is that only 60 percent of the jobs lost during the downturn have been recovered, and the unemployment rate in many parts of the state, including L.A. County, is still at or above 10 percent, which isn't what you'd call a healthy economy. And that's why holiday shopping this year could end up being sort of hit and miss. Folks who have well-paying jobs and a bunch of their money in the stock market - and Southern California has its share of both - those folks will probably be spending good amounts. 

Julian: Are there geographic tell-tale signs?

Lacter: The closer to the coast you go, the more spending there's likely to be. But it's a different story if you're feeling vulnerable about your job or in the amount of savings you have in the bank. So you have retailers once again coming up with ways of reaching as many budget-conscious folks as possible, as early as possible. The most obvious move is opening their stores on Thanksgiving night - Macy's is the latest of the chains to get a head start on Black Friday (Target, Kohl's, Walmart and J.C. Penney will also be open). Another strategy is matching your prices with the prices on Amazon and other online retailers - also, retailers will use mobile apps and arrange in-store pickup of online purchases. All told, expect holiday sales to run 3 percent ahead of last year, with the L.A. area likely to be a bit higher. Decent, but not great.

 Julian: What's the message to consumers now: buy or not buy?

 Lacter: Well, we'll start with the good news - gasoline prices are at their lowest level since the beginning of the year, with an average gallon of regular in the L.A. area running $3.75, according to the Auto Club. And barring any refinery fires or international catastrophes, the numbers might keep falling into November and December, which could incentivize consumers to buy a little more at the shopping malls. Here's some more good news - the L.A. area has seen a huge drop in the number of homeowners who are underwater, which happens when the value of a property is less than the amount that's owed on the property. This of course was a big problem during the recession, but over the last year the median home values have gone up between 20 percent and 30 percent. 

 Julian: And if your equity is positive instead of negative, you'll probably feel more confident about spending. 

 Lacter: That's right. But there are also deterrents to spending - as has been reported, a few hundred thousand Californians lose their individual health care policies by the end of the year because their plans don't meet the requirements of the Affordable Care Act. Policyholders will be stuck in many cases with a premium increase, possibly a big increase. Now it's possible that in the long run these folks will be better off with a more inclusive plan that results in lower out-of-pocket expenses. But it'a hard to ignore the sticker shock of having to shell out, say, $250 a month instead of $100.

 Julian: There goes the holiday list...

 Lacter: For those folks, yes. And even though L.A. consumers do a good job of separating their feelings about Washington with their desire to spend, the economy is bound to slow down a little. So Steve, just don't count on that $9,000 fur vest I was going to get you for Christmas. Sorry about that…

Mark Lacter writes for Los Angeles Magazine and pens the business blog at LA Observed.com.

This content is from Southern California Public Radio. View the original story at SCPR.org.




retailers

Optoro, Returnly partner to support retailers and brands with returns solution




retailers

Larger retailers need to be more proactive in greening their supply chain

An analysis of European retailers revealed a range of initiatives being undertaken to improve the environmental performance of product supply chains. However, it appears that very large grocery retailers are less proactive than specialist and cooperative retailers, owing to their complex supply chains and tendency to consider consumers responsible for environmental improvements.




retailers

Covid-19 Impact: Top retailers urge government to open non-essential retail to reset the Indian economy

The Clothing Manufacturers Association of India (CMAI), said only 8% of its members have funds to pay salary next month since 90% of all apparel retail is still at physical stores.




retailers

Offline phone retailers approach home ministry to restart shops

“We recommend allowing all physical shops dealing on sales, repair and service activity of mobile phones, mobile devices (laptops and tablets) and their supporting accessories to be opened on a limited basis (three days a week for five hours) with limited number of staff,” AIMRA said in an April 17 letter to union home minister Amit Shah.




retailers

Mobile phone retailers' body AIMRA urges govt to not include devices in essential goods

“We did not request you to change the category of mobile phones to essential items. We again reiterate we are not asking to change the category of mobile phones,” Arvinder Khurana, National President All India Mobile Retailers Association said in a letter to Piyush Goyal.​




retailers

Mobile phone retailers set to reopen stores where allowed

"All standalone (single) shops, neighborhood (colony) shops and shops in residential complexes are permitted to remain open in urban areas, without any distinction of essential and non-essential," the ministry of home affairs said in a notification on Friday.




retailers

Petrol retailers should reduce their prices in line with falls in international petrol prices

22 April 2020

Petrol retailers should not use the current pandemic to further increase profits, which the latest ACCC petrol industry report shows have risen in recent years, and should pass on the full benefit of falling oil prices to motorists, the ACCC has said.

Weekly average international crude oil prices have decreased by around US$ 50 per barrel since the beginning of the year and this has largely flowed through to Australian wholesale petrol prices, which have decreased by around 50 cents per litre (cpl) in the same period.

Over the same period, seven-day rolling average petrol prices across the five largest cities (i.e. Sydney, Melbourne, Brisbane, Adelaide and Perth) have decreased by around 45 cpl. These cities have regular petrol price cycles, which makes it difficult to assess the exact flow through of falls in international crude oil and refined petrol prices in the short term.

“The drop in the crude oil price is good news for the Australian motorists. At this time the Australian economy needs all the assistance it can get, and lower world crude oil prices are one of the few positives from current world events,” ACCC Chair Rod Sims said.

“In the larger Australian capital cities, petrol retailers took too long to pass on the savings from the rapid drop in international oil prices, and this did not reflect well on them.”

In Hobart, Canberra and Darwin as well as many regional locations, retail prices have been much slower to come down and the extent of the falls has varied widely.

Fuel prices are generally higher in regional Australia due to a number of factors, including lower population and demand, meaning there are fewer petrol stations, which often leads to less competition. There are also higher costs for transport and storage of fuel, and less convenience sales which can support the operation costs of petrol retailers when fuel prices are low.

Price changes in regional centres can lag up to six weeks behind changes in the larger capital cities, because the turnover of stock is generally lower in the country. The reduction in demand for petrol due to current travel restrictions may have further exacerbated the lag.

“We have previously found that the lack of vigorous and effective competition in some regional locations was a major reason for higher prices in those locations,” Mr Sims said.

“Where there is competition, you tend to see lower prices. Giving your business to outlets that are pricing competitively sends a strong message to those that have high prices that they will lose your business. We recommend motorists compare prices on fuel price apps and websites, such as MotorMouth and the government schemes in NSW, WA and the NT, which also provide information on retail prices in regional locations.”

“Especially at this difficult time, retailers must not take advantage of the situation to increase their profits, but should pass on savings to motorists,” Mr Sims said.

“The ACCC’s role is to monitor the market closely, and we will continue to do this, particularly to keep the pressure on the petrol retailers at this time.”

New ACCC report shows retail profits increased over time

The latest ACCC petrol industry report reports on the revenues, costs and profits in the Australian petroleum industry up to June 2018. It includes financial results for the retail and wholesale sectors as well as for refining and across the total downstream industry.

Retail sector net profits across all fuel products, convenience store and non-fuel services were $616 million in 2017-18, the last year covered by this report.

The sector generated a record high $333 million in net profits on petrol products – regular unleaded petrol (RULP), premium unleaded petrol (PULP) and ethanol blended petrol (EBP). This equates to a record net profit of 3.0 cpl on petrol products, which was almost double the average in the period 2008-09 to 2013-14 of 1.6 cpl.

About 60 per cent of petrol net profits ($199 million) were made on premium fuels, which only accounted for about a third of petrol sales by volume.

“Much of the increase in net profits on petrol products was driven by sales of PULP, which has a significantly higher profit margin for retailers,” Mr Sims said.

Net profits on PULP 95 and PULP 98 were 5.8 cpl and 5.9 cpl respectively, while net profits on regular unleaded were 1.5 cpl in 2017-18.

PULP 95 and PULP 98 have become more expensive relative to the retail price of RULP. The annual average price differential between RULP and PULP 98, for instance, increased to 20.4 cpl in 2017-18, an increase of 3.9 cpl since 2009-10. Profits were also influenced by higher sales volumes of PULP (particularly PULP 98).

Retailers also earn substantial profits from convenience store sales. Convenience and other non-fuel sales contributed around 37 per cent of total retail sector net profits (or $226 million) in 2017-18, illustrating their importance to petrol retailers’ businesses as the profit margins on these products are significant.

“Petrol stations make most of their profits from convenience sales and premium fuel. The average net profits on regular unleaded, at about 1.5 cpl are only a small part of the price motorists pay,” Mr Sims said.

The annual average retail price of RULP in the five largest cities in 2017-18 was 134.5 cpl.

“Drivers who have the option, can save money by resisting the temptation of convenience foods at petrol stations and using regular unleaded petrol, although motorists should follow their car manufacturers’ advice,” Mr Sims said.

Net profits in 2017-18 were stronger for refining and across the total downstream industry

The number of refineries halved from eight in 2002-03 to four in 2017-18, significantly rationalising operations. The financial performance of the refining sector fluctuated over the same period.

Refining net profits however recovered following several years of net losses after the Global Financial Crisis. Net profits reached $845 million in 2017-18, the highest since 2007-08. Overall profits for the total supply sector (which comprises refining, importing and transactions between refiners) were $1.19 billion in 2017-18.

Wholesale sector net profits were about $976 million in 2017-18 across all products and services. They have fluctuated over time but have been relatively consistent since 2008-09.

Net profits for the total downstream industry across all products and services were $2.78 billion (or 2.9 cpl), the highest recorded since 2007-08 and more than double the figure recorded for 2013-14 ($1.24 billion, or 1.4 cpl).

For petrol products, total industry net profits were $1.44 billion in 2017-18, or 4.2 cpl, the highest recorded by the ACCC. They were around double the profits on petrol products across the industry in 2013-14 ($723 million, or 2.0 cpl).

Notes to editors

On 16 December 2019, the Treasurer issued a new direction to the ACCC to monitor the prices, costs and profits relating to the supply of petroleum products in the petroleum industry in Australia. As part of this direction, the ACCC produces industry reports that focus on particular aspects of consumer interest in the fuel market in relation to prices, costs and profits.

This is the first industry report under the new direction. It reports on the revenues, costs and profits for the total downstream petroleum industry as well as for the following industry sectors: retail, wholesale, and total supply (which comprises refining, importing and transactions between refiners).

The focus of this report is to provide transparency around the financial performance and the profitability of the downstream petroleum industry. It presents results from analysis of this data.

The ACCC analysed the financial data of 11 companies:

  • refiner–wholesalers – BP, Caltex, Mobil and Viva Energy
  • independent wholesalers – Liberty, Puma Energy and United
  • supermarket chains – Coles Express and Woolworths
  • large independent retailers – 7-Eleven and On The Run.

The ACCC previously reported on financial results to the end of 2013-14.

This report includes data from 2002-03 to 2017-18 (the latest data analysed), but excludes results for 2014-15 and 2015-16, which was a period when the ACCC conducted other financial analysis of the industry as part of its regional market study reports.

All results in this report are in real terms in 2017-18 dollars.

Release number: 
76/20
ACCC Infocentre: 

Use this form to make a general enquiry.

Media enquiries: 
Media team - 1300 138 917
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retailers

Retailers granted authorisation to collectively negotiate with landlords

22 April 2020

The ACCC has granted interim authorisation allowing retailers to collectively bargain with landlords about rent relief during the COVID-19 pandemic.

The interim authorisation, granted to the Australian Retailers Association and its current and future members, will also allow retailers to share information relevant to the negotiations including in relation to requests by landlords for certain information as part of considering and negotiating support to be provided in the context of COVID-19.

“We see a clear public benefit in allowing retailers to work together in the negotiations with landlords as it will help those tenants who are experiencing financial hardship during this pandemic to reach a fair outcome,” ACCC Chair Rod Sims said.

“We need to maintain strong competition in the retail sector and supporting these businesses will help with economic recovery once the pandemic subsides.”

The authorisation is voluntary and temporary, and does not include individual tenants exchanging information about the amount of their rent or any rent incentives they were previously granted. 

It is planned that the proposed co-operation will have regard to the proposed mandatory Code of Conduct which sets out the good faith leasing principles applicable between landlords and small and medium shopping centre tenants.

“As with all of the temporary arrangements that industries are looking to implement as a means to deal with the COVID-19 issues they are facing, we will keep under consideration when they are no longer necessary,” Mr Sims said.

Having granted interim authorisation for the arrangements, the ACCC will now seek feedback on the application for final authorisation which is sought for a period of 12 months from the date of authorisation.

More information, including the ACCC’s interim authorisation decision, is available at Australian Retailers Association.

Background

The Australian Retailers Association is Australia’s largest retail industry association and provides advice, education and advocacy for its approximately 7,500 members.

On 3 April 2020 the ACCC granted interim authorisation allowing shopping centres to co-operate to support retail tenants financially impacted by COVID-19.

Notes to editors

ACCC authorisation provides statutory protection from court action for conduct that might otherwise raise concerns under the competition provisions of the Competition and Consumer Act 2010.

Section 91 of the Act allows the ACCC to grant interim authorisation when it considers it is appropriate. This allows the parties to engage in the proposed conduct while the ACCC is considering the merits of the substantive application.

The ACCC may review a decision on interim authorisation at any time, including in response to feedback raised following interim authorisation.

Broadly, the ACCC may grant a final authorisation when it is satisfied that the likely public benefit from the conduct outweighs any likely public detriment.

Release number: 
77/20
ACCC Infocentre: 

Use this form to make a general enquiry.

Media enquiries: 
Media team - 1300 138 917
Audience




retailers

Coupon Imperial - A Site For Coupon Offers From The Most Popular Retailers Worldwide

Coupon Imperial, an online store that offers discount coupons, updated in real time from the offers of the largest online stores and where online shoppers can use them for convenient experiences at purchases of products and services.




retailers

Many Online Retailers Refuse to Allow Bulletproof Products for Children Going Back to School

Retailers restrict the ability of consumers to purchase armored products to protect themselves and those that they love. Many retailers believe that consumers do not want or need ballistic protection and therefore do not offer armored products.




retailers

Global Piracy & Counterfeiting Consultants Demands All Internet Retailers Name the Country of Origin for Hand Sanitizers-Masks and Surgical Gloves They Are Selling-If the County is China-Don't Buy it

The Global Piracy Counterfeiting Consultants is urging President Trump to issue an executive order that requires on-line marketers selling surgical gloves, masks or hand sanitizers in the USA to name the country where the product was made-like China.




retailers

Zespri Dedicated to Deliver Vitamin C-Packed SunGold® Kiwi to Retailers

Zespri's Season Launch Provides Consumers with a Healthy Fruit Option to Support Immunity




retailers

Can these 13 retailers survive coronavirus? Permanent store closings, bankruptcies coming

Retailers that were already ailing before the coronavirus are beginning to crumble as the crisis raises the threat of store closings and bankruptcy.