• Home
  • Latest
  • Fortune 500
  • Finance
  • Tech
  • Leadership
  • Lifestyle
  • Rankings
  • Multimedia
RetailCoronavirus

It may be a while before many of America’s stores open again as coronavirus crisis worsens

Phil Wahba
By
Phil Wahba
Phil Wahba
Senior Writer
Down Arrow Button Icon
Phil Wahba
By
Phil Wahba
Phil Wahba
Senior Writer
Down Arrow Button Icon
March 26, 2020, 2:30 PM ET

This article is part of a Fortune Special Report: Business in the Coronavirus Economy—a look at the impact of the pandemic on more than 50 industries.

When large national retailers started announcing temporary store closings early last week because of the coronavirus spreading, many seemed to think two weeks would do the trick.

That expectation is proving to have been wildly optimistic.

Coach, Abercrombie & Fitch, and Men’s Wearhouse are among the chains on Thursday to extend store closings as it’s becoming clear a return to normal is still a way off in the United States and Western Europe.

Coach parent Tapestry, which also owns Kate Spade, now hopes to reopen stores April 10 instead of March 27, while Men’s Wearhouse, anticipating that few men will be needing to buy a new suit anytime soon, has set May 4 as a return day. Its parent company, Tailored Brands, which also owns Jos. A. Bank, has furloughed all store staff until then. Nordstrom now plans to reopen a week later than planned, on April 5. As for Abercrombie, like Apple, it had initially set a specific date but now says only that its stores are closed until further notice.

The closings are plunging the retail sector into one of its biggest crises ever. Research firm GlobalData Retail has been tracking the closings and by Thursday morning estimated that 40.9% of retail square footage in the U.S. is currently closed. The firm now expects retail sales to be down 12.4% this month, 11.6% in April, and 6.1% in May, when the crisis should start easing.

Some of the hoped-for return-to-business dates come before Easter, the date by which President Trump has said he wants to “reopen” the economy. With many states and cities shutting down to slow the virus’s spread and its peak not expected for weeks, even April 12 seems unrealistic.

Subscribe to Outbreak, a daily newsletter roundup of stories on the coronavirus pandemic and its impact on global business. It’s free to get it in your inbox.

Wall Street also seems to think the closures won’t end any time soon. In a research note titled “Closeageddon,” Jefferies analysts warned that “stores could be closed longer than we think.” What’s more, the firm warned, e-commerce won’t come near making up the shortfall. And digital sales are much less profitable anyway, especially shipped orders; the option to have a shopper pick up an online order at a store cuts costs enormously.

It’s clear that retailers, even those open for business and doing well in this environment, are growing anxious. Despite stellar results in March so far, thanks to stock-up trips, Target this week withdrew its financial forecasts for 2020, citing economic uncertainty.

Others that sell nonessential items are more challenged. Abercrombie, Tapestry, and Nordstrom were the latest to tap credit lines this week to have access to cash at a time they are still incurring costs but dealing with a drastic drop in revenue. Best Buy, Ulta Beauty, and Kohl’s are among the many other chains to have taken steps to shore up their access to cash in the past week.

More tough decisions are coming: Macy’s, Gap Inc., Under Armour, and J.C. Penney, as well as major mall developers are among the many companies to have planned to reopen in the next week but will most likely have to reconsider those dates.

More must-read stories from Fortune:

—Which stores are open—and closed—during the coronavirus pandemic in the U.S.?
—”Essential” stores like CVS go on hiring sprees while the rest of retail reels
—How Nike is overcoming the coronavirus impact on its China business
—Though uncertainty reigns, Lowe’s CEO says business is holding up
—Listen to Leadership Next, a Fortune podcast examining the evolving role of CEO
—WATCH: The greatest designs of modern times

Follow Fortune on Flipboard to stay up-to-date on the latest news and analysis.

About the Author
Phil Wahba
By Phil WahbaSenior Writer
LinkedIn iconTwitter icon

Phil Wahba is a senior writer at Fortune primarily focused on leadership coverage, with a prior focus on retail.

See full bioRight Arrow Button Icon

Latest in Retail

Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025

Most Popular

Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Fortune Secondary Logo
Rankings
  • 100 Best Companies
  • Fortune 500
  • Global 500
  • Fortune 500 Europe
  • Most Powerful Women
  • Future 50
  • World’s Most Admired Companies
  • See All Rankings
Sections
  • Finance
  • Fortune Crypto
  • Features
  • Leadership
  • Health
  • Commentary
  • Success
  • Retail
  • Mpw
  • Tech
  • Lifestyle
  • CEO Initiative
  • Asia
  • Politics
  • Conferences
  • Europe
  • Newsletters
  • Personal Finance
  • Environment
  • Magazine
  • Education
Customer Support
  • Frequently Asked Questions
  • Customer Service Portal
  • Privacy Policy
  • Terms Of Use
  • Single Issues For Purchase
  • International Print
Commercial Services
  • Advertising
  • Fortune Brand Studio
  • Fortune Analytics
  • Fortune Conferences
  • Business Development
  • Group Subscriptions
About Us
  • About Us
  • Editorial Calendar
  • Press Center
  • Work At Fortune
  • Diversity And Inclusion
  • Terms And Conditions
  • Site Map
  • About Us
  • Editorial Calendar
  • Press Center
  • Work At Fortune
  • Diversity And Inclusion
  • Terms And Conditions
  • Site Map
  • Facebook icon
  • Twitter icon
  • LinkedIn icon
  • Instagram icon
  • Pinterest icon

Latest in Retail

C-SuiteFood and drink
‘I didn’t want anybody shooting me’: Five Guys CEO gave away $1.5 million bonus to employees over botched BOGO burger birthday celebration
By Catherina GioinoMarch 25, 2026
18 hours ago
Brian Niccol speaks and gestures in front of a blue and green background.
C-SuiteStarbucks
Starbucks CEO admits the chain ‘ran like a manufacturing facility’
By Sasha RogelbergMarch 23, 2026
3 days ago
Toilet paper on empty supermarket shelves, lockdown panic buying
EconomyIran
The great toilet paper panic is back as Japan starts stockpiling
By Eva RoytburgMarch 23, 2026
3 days ago
RetailCostco
Costco CEO promises the $1.50 hot dog isn’t going away: ‘The price will not change as long as I’m around’
By Sydney LakeMarch 21, 2026
5 days ago
AsiaPepsiCo
Three Asias, three different playbooks: How PepsiCo’s Anne Tse views the world’s fastest-growing snack market
By Nicholas GordonMarch 20, 2026
6 days ago
A man walks between two luxury cars with the skyline of Dubai in the background.
RetailLuxury
The Middle East is one of the world’s fastest growing luxury markets—and the war in Iran may cut its sales in half, analysts say
By Sasha RogelbergMarch 20, 2026
6 days ago

Most Popular

Success
Palantir’s billionaire CEO says only two kinds of people will succeed in the AI era: trade workers — ‘or you’re neurodivergent’
By Fortune EditorsMarch 24, 2026
2 days ago
Magazine
The youngest-ever female CEO of a Fortune 500 company is fighting Trump's cuts to keep Medicaid strong
By Fortune EditorsMarch 24, 2026
2 days ago
Commentary
The Treasury just declared the U.S. insolvent. The media missed it
By Fortune EditorsMarch 23, 2026
3 days ago
C-Suite
'I didn’t want anybody shooting me': Five Guys CEO gave away $1.5 million bonus to employees over botched BOGO burger birthday celebration
By Fortune EditorsMarch 25, 2026
18 hours ago
Success
JPMorgan’s Jamie Dimon says remote work breeds ‘rope-a-dope politics’ and stunts young workers’ growth
By Fortune EditorsMarch 25, 2026
23 hours ago
Success
The job market is so bad that ‘reverse recruiters’ are charging $1,500 a month just to help people look for jobs
By Fortune EditorsMarch 25, 2026
1 day ago

© 2026 Fortune Media IP Limited. All Rights Reserved. Use of this site constitutes acceptance of our Terms of Use and Privacy Policy | CA Notice at Collection and Privacy Notice | Do Not Sell/Share My Personal Information
FORTUNE is a trademark of Fortune Media IP Limited, registered in the U.S. and other countries. FORTUNE may receive compensation for some links to products and services on this website. Offers may be subject to change without notice.