Retailers

WA Releases Phase 2 Rules For In-Store Retailers, Manufacturers

By Phil M. Sinha 2 weeks ago

WASHINGTON — As Washington enters Phase 2 of Gov. Inslee’s plan to reopen the economy, a number of businesses will be allowed to resume operations: taverns and bars, restaurants, big box stores, department stores, boutiques, retailers and manufacturers.

But how those businesses are run will have changed. The state has already released rules for restaurants and taverns. Tuesday night, the Governor’s office followed up with new regulations for in-store retail and manufacturers.

Guidelines for in-store retail

The new retail guidelines apply to reopening big box stores, department stores, sporting good stores, boutiques, and any other physical location where goods are “exchanged with the general public”. The rules also apply stores that have remained open during the outbreak like groceries, supermarkets, as well as home improvement, pet and auto supply stores.

Under the new requirements, stores must:

  • Limit the number of shoppers to less than 30 percent the normal maximum

… Read More

Specialist food and drink retailers saw 38% spending growth in April

By Phil M. Sinha 2 weeks ago

Consumer spending dropped 36% year-on-year in April, but supermarkets and food and drink retailers continued to grow, according to Barclaycard data.

The biggest reductions were in non-essential spending on fuel, travel, and pubs, which fell 59%, 87% and 97% respectively, as people followed government advice to stay home during the coronavirus pandemic.

But supermarkets saw a sales boost of 14% as Brits made larger shops and prepared more meals at home. This has also benefited food and drink specialists – including off-licences, greengrocers, independent convenience stores, butchers and bakeries – which saw 38% growth.

This was helped by Brits continuing to support local businesses, with more than half saying the current environment made them realise how much they value these shops.

READ MORE: UK’s lowest earners have been hardest hit by virus

UK adults are now planning to spend more in local retailers, including butchers (27%), cafés and restaurants (26%),

… Read More

5 Retailers Likely to Gain on Earnings Results This Month

By Phil M. Sinha 2 weeks ago

A bulk of the retail sector is gearing up to report first-quarter earnings and a handful of companies from this space are set to beat earnings estimates this month. This raises optimism in an otherwise coronavirus-stricken reporting cycle.

Retail Sector Suffers Due to Pandemic

On Apr 15, the Commerce Department stated that U.S. retail and food services sales in March fell 8.7% to $483.1 billion, following a revised reading of a 0.4% decline in February. However, on May 15, the Commerce Department revised March retail sales to a decline of 8.3%. The unprecedented fall in March retail sales marked the largest monthly decline since the economic recession in November 2008.

The coronavirus pandemic has brought economic activities to a standstill leading to skyrocketing job losses and massive pay cuts. Consequently, this has resulted in sinking consumer confidence and dwindling household income, which have severely impacted spending activities and taken a

… Read More