Gordon Brothers, the global advisory, restructuring and investment firm, has released an article providing perspective on what’s ahead for the retail industry post COVID-19.
While the COVID-19 closures, unprecedented unemployment, and declining tourism and travel have impacted retail heavily, the reopening of the economy should bring some rapid relief. As such, U.S. retail sales rose 17.7 percent in May as stores and restaurants reopened after the lockdown. Undoubtedly, there are challenges ahead, but there is still room for certain business models to grow and flourish, and will depend on a retailer’s ability to mitigate a number of factors.
“Traditional retailers that were deemed essential businesses early on have seen positive trends,” said the article’s co-author, Becky Goldfarb, Managing Director – Retail Valuations. She added, “Some of the first data points directly collected by Gordon Brothers around customer trends and sales performance in the newly opened marketplace have been positive.”
Alex Sutton, Managing Director – Head of Research and co-author of the article stated, “It is unpredictable what level of sales will be achieved over the balance of 2020, but early reporting has shown that brick and mortar retailers in certain segments have bounced back well as a result of pent up demand for their products.”
For the latest information, articles, and perspective on the recent economic impacts, please visit the Gordon Brothers Resource Hub at: www.gordonbrothers.com/insights.
About Gordon Brothers
Since 1903, Gordon Brothers (www.gordonbrothers.com) has helped lenders, operating executives, advisors, and investors move forward through change. The firm brings a powerful combination of expertise and capital to clients, developing customized solutions on an integrated or standalone basis across four service areas: valuations, dispositions, operations, and investments. Whether to fuel growth or facilitate strategic consolidation, Gordon Brothers partners with companies in the retail, commercial, and industrial sectors to put assets to their highest and best use. Gordon Brothers conducts more than $70 billion worth of dispositions and appraisals annually. Gordon Brothers is headquartered in Boston with 25 offices across five continents.