Retail winners and losers in the wake of COVID-19
Read Original Source
For weeks they've been fields of desolation. But, slowly, mall parking lots are starting to come back to life. Malls started reopening on Friday in Texas and some Southern states. Others are offering curbside pickup, like at Stonebriar Centre outside Dallas, Texas. "It's uncharted territory for us," said Stephanie Brager, a senior vice president at Brookfield Properties, which manages 170 malls across the country, including Stonebriar.
AI Summary
Main Idea: The pandemic is speeding up change in retail, helping big companies like Walmart and Amazon while hurting malls and department stores, even as Brookfield Properties tries to adapt.
Key Points:
- Malls are reopening in some states, but shopping is still uncertain as people return slowly and many stores use curbside pickup.
- Analysts say the crisis is pushing more sales online, especially grocery shopping, which could shift billions of dollars away from physical stores.
- Walmart and Amazon appear to be among the biggest winners because many shoppers now buy essentials online and at large chains.
- Department stores are among the hardest hit, with weak sales, layoffs, and bankruptcy risks, while Brookfield Properties is replacing some anchors with other uses like grocers and healthcare.
Impact on the People
Negative Impact
Department stores and mall workers could face more layoffs and closures as online shopping and giants like Amazon and Walmart take more sales.
Positive Impact
Consumers may get easier curbside pickup, more online grocery options, and faster service from stronger retailers.
How did each entity affect people?
Rate how each entity in this article affected the American people.
- Major:Amazoncompany
- Major:Brookfield Propertiescompany
Candidate Entities11 candidates · 5 weighted vote min · 70% decision
- AmazoncompanyMajorEvaluated
Named retail giant highlighted as a key beneficiary of pandemic shopping shifts.
Include 0 (0%)Ignore 0 (0%)5 to threshold - Brookfield PropertiescompanyMajorEvaluated
Major property manager discussed as adapting mall operations and reopening strategy.
Include 0 (0%)Ignore 0 (0%)5 to threshold - J.C. PenneycompanyMajorAI selected
Named department store chain cited as nearing bankruptcy.
Include 0 (0%)Ignore 0 (0%)5 to threshold - MacyscompanyMajorAI selected
Major department store chain specifically noted for mall reopenings.
Include 0 (0%)Ignore 0 (0%)5 to threshold - Neiman MarcuscompanyMajorAI selected
Named department store chain cited as nearing bankruptcy.
Include 0 (0%)Ignore 0 (0%)5 to threshold - Scott GallowaypersonMajorAI selected
Named professor providing the article’s main market interpretation of retail winners and losers.
Include 0 (0%)Ignore 0 (0%)5 to threshold - WalmartcompanyMajorAI selected
Named retail giant highlighted as a key beneficiary of pandemic shopping shifts.
Include 0 (0%)Ignore 0 (0%)5 to threshold - KrogercompanyContextCandidate
Named grocery chain used as an example of grocery sales shifting online.
Include 0 (0%)Ignore 0 (0%)5 to threshold
Comments 0
Comments here are the same thread shown when this article appears in The Pulse.
No comments on this article yet.
Sign in to comment