Major retailers are closing their doors or reducing their open hours across the United States in an effort to blunt the spread of the coronavirus.
Why it matters: While the closures may help stop the spread of the virus, they will also hamper the already-stressed retail industry, according to CNBC.
Driving the news:
- Nike said Sunday that all of its stores in the U.S., Canada, Western Europe, Australia and New Zealand will close from Monday through March 27, CNBC reports. A spokesperson said all workers will still be paid while the stores are closed.
- Abercrombie & Fitch will close all of its stores outside of the Asia-Pacific region between March 15 and March 28. It has about 880 stores worldwide, per CNBC.
- Apple on Saturday announced it will close all of its retail stores worldwide except for greater China until March 27. CEO Tim Cook said hourly workers will continue to receive pay while stores are closed.
- Urban Outfitters, which operates 600 stores under various brands, will close temporarily until at least March 28 but continue to pay workers.
- Patagonia closed all of its stores, offices and other operations on March 13. Rose Marcario, the company’s CEO and president, said employees will receive their regular pay during the closure.
- Walmart is closing its 24-hour locations overnight to restock products and clean the stores. Stores that were open 24 hours will now operate from 6am to 11pm, according to USA Today.
By the numbers: The U.S. had 2,952 cases of the virus and 57 deaths as of noon Sunday, according to Johns Hopkins University.