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coronavirus

Company newsMarylandNewsRetailers

Under Armour to Furlough 6,600 Workers Beginning April 12

by Alex Tostado

Baltimore — In response to the spread of COVID-19, Under Armour Inc. will temporarily lay off some 6,000 employees at its outlet stores around the country and approximately 600 workers at its U.S. distribution centers, effective Sunday, April 12. The Baltimore-based sports apparel retailer also said it would extend current store closures until further notice. In addition, the company’s board of directors and executive vice presidents will be taking 25 percent pay cuts during the public health crisis. Under Armour workers at distribution centers that continue to work will be …

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FeaturesRetailers

Retailers Pitch in to Aid in Coronavirus Efforts

by Alex Tostado

As concerns about coronavirus (COVID-19) mount and the stock market is impacted, Shopping Center Business has compiled a number of retailers that are stepping in to aid in relief efforts. Brooks Brothers Brooks Brothers is converting its American factories to start producing 150,000 masks per day to help protect healthcare workers and others battling the spread of COVID-19. Blenders Eyewear Blenders Eyewear has repurposed a portion of its manufacturing to make safety goggles for health workers in light of the ongoing coronavirus pandemic. The company will donate 10,000 goggles to Southern California …

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NewsWashington DC

First Step to Restoring Economy is Stopping Pandemic, Says NRF Chief Economist

by Alex Tostado

Washington, D.C. — In the April issue of the National Retail Federation’s (NRF) Monthly Economic Review, NRF chief economist Jack Kleinhenz says in order to see the economy bounce back from the coronavirus pandemic, the country must first “get the virus under control.” The Associated Press reported Thursday morning that U.S. unemployment claims hit 6.6 million for the week ending March 28, doubling that of the 3.3 million claims filed in the week ending March 21. “How quickly the country gets a handle on containing the virus will determine the degree of …

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CaliforniaCompany newsNew YorkNewsRetailersWisconsin

Gap, Macy’s, Kohl’s to Furlough Most Employees as Stores Remain Closed During COVID-19 Pandemic

by Alex Tostado

San Francisco, New York City and Menomonee Falls, Wis. — Prominent retailers Gap Inc., Macy’s Inc. and Kohl’s have announced separately that they’re planning to furlough a majority of employees at their stores and some distribution centers beginning this week in response to the COVID-19 outbreak. Combined, the total number of affected employees is nearly 290,000, according to the Los Angeles Times. The three retailers have extended their temporary store closures indefinitely to stop the spread of the novel coronavirus. The Centers for Disease Control and Prevention (CDC) reported that the …

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Company newsNewsRetailersTexas

Reports: Neiman Marcus to Furlough Most Workers Amid Coronavirus Crisis

by Alex Tostado

Dallas — Dallas-based luxury retailer Neiman Marcus will furlough the majority of its 14,000 employees as it endures another month of store closures, according to reports from multiple news outlets including Reuters, Bloomberg and The Dallas Morning News. Neiman Marcus CEO Geoffroy van Raemdonck made the announcement Monday, also noting that he would be forgoing a salary during closures, and that employees not impacted by the furloughs would take pay cuts.

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Company newsMassachusettsNewsRetailers

Stop & Shop to Donate $1 Million to Support Regional Food Bank Partners in Fulfilling Coronavirus Needs in Northeast

by Alex Tostado

Quincy, Mass. — Stop & Shop, a metro Boston-based regional grocer, will donate $1 million to support its food bank partners across the Northeast in their efforts to fulfill community needs amid the coronavirus outbreak. Proceeds will fund workers who may not be compensated during temporary work closures, as well as to support children without access to free meals at school and existing clients who currently face food insecurity. The donation will be divided among the grocer’s 13 partners, including Greater Boston Food Bank, Rhode Island Community Food Bank and …

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Features

COVID-19 and Commercial Real Estate: What We Know, What We Don’t

by Alex Tostado

The coronavirus pandemic (COVID-19) has not only impacted the physical health of humans around the world, but the health of the U.S. economy as well. While the stock market rallied over 11 percent on Tuesday, its biggest jump in nearly 90 years, on news that a federal stimulus bill to rescue the economy from the coronavirus was imminent, the Dow Jones Industrial Average was still down 31 percent from its most recent high at the closing bell. Meanwhile, economists say weekly jobless claims — new filings for unemployment insurance — …

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Company newsNewsOhioRetailers

Washington Prime Group to Temporarily Shutter Enclosed Retail Assets

by Alex Tostado

Columbus, Ohio — Washington Prime Group Inc. (NYSE: WPG) has temporarily closed its enclosed retail assets that feature an indoor common area in order to help contain the spread of coronavirus. The measure took effect Monday and will end March 29 or at a date in compliance with applicable federal, local or state mandates. Exceptions for enclosed centers include exterior-facing restaurants with carryout and delivery services and other tenants that have exterior-facing entrances and may remain open for offering essential goods. In addition, Washington Prime anticipates that a portion of …

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Company newsMallsNewsRetailers

Malls, Retailers Shut Down Amid Pandemic

by Alex Tostado

Simon and Unibail-Rodamco-Westfield announced Wednesday they were closing all malls until March 29. The American Dream Mall closed on March 16, postponing an opening preview of the Dreamworks Water Park. Mall of America closed on March 18 and will remain closed through the end of the month. Taubman announced it was closing its malls on March 19 and would keep them closed through March 29 unless recommendations from state or federal government require they remain closed longer. Some of Taubman’s retailers with exterior-facing storefronts would be permitted to remain open …

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Company newsNewsRetailersWisconsin

All Duluth Trading Stores to Temporarily Close

by Alex Tostado

Mount Horeb, Wis. — As a result of the COVID-19 pandemic, Duluth Holdings Inc. has temporarily closed all of its stores nationwide. There are more than 60 locations of Duluth Trading Co. The company did not disclose a timeline for when the stores will reopen. The Wisconsin-based retailer of casual wear and workwear will support sales associates with two weeks of pay. Approximately 50 percent of Duluth Trading’s sales are generated through its website and shipped directly to customers from its distribution centers. The company plans to keep these facilities …

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