Why Brick-and-Mortar Retail Stocks Are Falling Today
Shares of brick-and-mortar retail companies were moving lower on Wednesday, after a leading provider of store-credit cards said that charges fell sharply after mid-March, when stores closed in response to the outbreak of the COVID-19 virus.
Here's where things stood for these three companies' stocks as of 3:00 p.m. EDT on Thursday, relative to their closing prices on Tuesday:
As if retail-stock investors didn't have enough to worry about, with most brick-and-mortar apparel and department stores closed since mid-March, there's now a bit more evidence to suggest that sales -- in stores, online, wherever -- have fallen sharply since the onset of the coronavirus pandemic.
Source Fool.com
