June retail sales were strong for a second straight month, fueled by the reopening of economies across the country and the continuation of pent-up demand from lockdowns earlier in the year. Overall retail sales rose by 7.5% in June, which followed May’s record 18.2% gain. … READ MORE >
Consumer products
Miles away: U.S. airports face heavy lift and slow recovery
The COVID-19 pandemic and resulting shelter-in-place protocols have devastated the airline industry. Along with it, airports across the country, rife with retail, have suffered significant losses.
As cancellations of business trips and vacations mounted beginning with the onset of the outbreak in mid-March, traffic from travelers plummeted. The Transportation Safety Administration reported that throughput fell to approximately 100,000 people per day by the first week of April, down from almost 2.2 million daily a month earlier. … READ MORE >
May retail sales soar, but will it continue?
Retail sales soared by 17.7% in May, the biggest month-over-month increase on record, the Commerce Department reported on Tuesday. … READ MORE >
Retail lessons from the RSM US Middle Market Business Index
While it’s no surprise that middle market retailers were hard hit by fallout from the COVID-19 pandemic, proprietary RSM data underscores this vulnerability. One key data point highlighted a potential opportunity for retailers related to business continuity planning, however, as the initial outbreak slows. … READ MORE >
Amid chaos of coronavirus, food and beverage sector continues to adapt
The retail sales figures released this week painted a grim picture of consumer spending and the state of the economy amid the mounting human and economic toll of the coronavirus. But a deeper look at the data reveals some profound changes taking place that will most likely endure once the pandemic passes. … READ MORE >
What middle market companies can learn from Nike about managing disruption
Last week, Nike surprised investors in its earnings report when it revealed that sales in China had declined by only 5% for the quarter ending February 28. While China is a key growth market for the apparel and footwear giant, the decrease demonstrated how well Nike had navigated a nationwide … … READ MORE >
Retailers and restaurants should consider the CARES Act
On March 27 the president signed the CARES Act into law, providing $2 trillion in aid for individuals and business throughout the United States. Great uncertainty exists within the middle market as companies scramble to determine what programs are available, whether they are eligible, and how they can take advantage … … READ MORE >
How middle market retailers can position themselves to survive coronavirus, and Amazon
Amazon’s suspension of non-essential products through at least April 5 will leave the door open for other retailers that have the flexibility to focus on the categories that shoppers will not be able to find on Amazon. … READ MORE >
Coronavirus impact on the consumer products ecosystem
In a very short period of time, the COVID-19 outbreak has had a significant impact on economies throughout the world and across all industries and sectors. The earliest stages of the U.S. consumer supply chain are heavily dependent upon China.
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For apparel industry, optimism over China trade deal gives way to concerns over virus outbreak
When middle market fashion and apparel leaders weighed moving production from China after the onset of tariffs in the second half of 2019, a global virus outbreak probably wasn’t part of the equation. … READ MORE >