Why Big Box Retailers Got Crushed Today
Another volatile stock market trading session, another terrible day for traditional retail stocks.
Department stores and mall-based chains including Macy's (NYSE: M), Kohl's (NYSE: KSS), Bed Bath & Beyond (NASDAQ: BBBY), and Best Buy (NYSE: BBY) were all getting shellacked as investors continue to flee nonessential retailers, especially those that were struggling before the novel coronavirus outbreak took hold of the market.
Investors seem to think that shoppers will want to avoid brick-and-mortar stores if the outbreak spreads and that they are more focused on spending money on things like food and medicine rather than discretionary purchases like apparel, home goods, and electronics. Meanwhile, the specter of supply chain disruptions from China also looms over these stocks and could cause inventory shortages in the coming weeks.
Source Fool.com
