The coronavirus pandemic has emphasized the growing gap between struggling and successful retailers, reports CNBC.
Walmart, Target, Lowe’s and Home Depot were among the banners reporting significant increases in revenue last week, exceeding anaylsts’ forecasts. Brands like Kohl’s and L Brands, however, reported double-digit revenue decreases.
Mall-based brands are especially hard hit, with those retailers seeing their earnings drop 256 percent, according to Retail Metrics. “Off-mall” retailers, however, have reported a slight earnings decline of 0.6 percent. Overall, mall-based retailers have underperformed when compared to their off-mall counterparts in 19 of the past 20 quarters, reports Retail Metrics founder Ken Perkins.