Bed Bath & Beyond (BBBY) - Get Report and Kohl's (KSS) - Get Report are the latest two retailers to announce widespread closures of their stores across the U.S. and Canada as the entire retail industry grinds to a halt amid the ongoing coronavirus pandemic.
Bed Bath & Beyond said it will temporarily close more than half of its stores across all its banners, though it will continue to operate essential stores including buybuy BABY and Harmon, as well as Bed Bath & Beyond stores that sell healthcare, personal care, infant care, cleaning supplies and basic food and beverages, the company said.
Kohl’s, meanwhile, is shuttering all of its more than 1,100 retail stores in the U.S. at least until April 1. The company said customers will still be able to shop through the its website Kohls.com and Kohl's app. "We look forward to reopening our stores soon to serve families across the country," CEO Michelle Gass said. Kohl's has stores in 49 states.
The moves follow other major retailers - and thousands upon thousands of smaller ones - who are closing their doors, either by force or by circumstance, as the coronavirus prompts consumers to not only steer clear for health and safety reasons, but for economic ones.
Catch up on the Latest Videos on TheStreet!
- Jim Cramer Answers Top Questions Investors Face Amidst Market Uncertainty
- Where Stocks Closed Thursday and What Wall Street Is Saying
- How This Small Biotech Player Is Racing Gilead, Moderna to Coronavirus Treatment
- Jim Cramer on the New York Stock Exchange's Decision to Temporarily Close
- Notable Stock Market Halts and Closures Throughout History
- Laid Off? Here's What Jim Cramer Says to Do With Your Investments
- Jim Cramer's Advice for Investors Worried About Their Jobs
- What Is the Coronavirus? Answers to Most Asked Questions
- Acorns CEO on How Younger Investors Can Fare During Market Volatility
- Real Money: Is Now the Time to Buy Cheap Stocks?
- Retirement Daily: Don’t Retire With Debt: It’s Bad for Your Well-Being