These Retailers Are Closing Stores to Slow the Spread of Coronavirus

Author:
Publish date:
Video Duration:
2:08

Many brick-and-mortar stores, including Nike, Macy’s, and Kohl’s, are closing nationwide to do their part in helping prevent the spread of the coronavirus.

Yet for an already-struggling industry, the coronavirus pandemic will be a particularly difficult blow. Retailers have been plagued by troubles in recent years, including the rise of Amazon, online shopping, and the over-expansion of the American mall. Some industry experts question whether retailers will be able to bounce back from the financial impact of the pandemic.

Here are some of the companies closing their stores:

Macy’s is temporarily closing all of its stores nationwide. The retailer will offer benefits and compensation to its affected workers.

Bed Bath & Beyond has closed around 800 stores, or 50% of its total real estate, through April 3. It is leaving open stores that have health and personal care departments.

Apple has closed all of its store outside greater China until at least March 27.

Nike has closed its stores in the U.S., Canada, Western Europe, Australia and New Zealand until at least March 27.

Dick’s Sporting Goods has closed all of its stores through April 2. The sporting goods company is offering workers two-weeks pay and benefits during this period.

Kohl’s is closing all stores temporarily through at least April 1. The company is offering workers two calendar weeks of pay.

The largest U.S. mall owner, Simon Property Group, has also temporarily closed all its malls and outlet centers.

Some brick-and-mortar retailers, such as Walmart and Costco, have seen a surge in demand. Shoppers are flocking to these stores to stock up on food and household supplies.

Catch up on the Latest Videos on TheStreet!