The COVID-19 pandemic has caused havoc on most of the top 25 publicly traded global retailers, according to a study that United Kingdom-based GlobalData conducted.
"Generally, the impact has been catastrophic," GlobalData's Managing Director Neil Saunders tells GlobeSt.com. "As most of physical retail has closed across the world, retailers have seen sales fall at an unprecedented rate. This has left most unable to cover their basic operating cost leading to massive losses. Those with weak balance sheets or high debt loads are now in trouble."
The company's analysis for the first quarter for 2020 as compared to the last quarter of 2019 shows that 23 of the top 25 companies showed a decline. Those companies include E-commerce giant Alibaba, WalMart, Home Depot, Target and Costco.
Recommended For You
Want to continue reading?
Become a Free ALM Digital Reader.
Once you are an ALM Digital Member, you’ll receive:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
*May exclude premium content© 2025 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
Robert Storace
Robert Storace covers legal trends, lawsuits and analysis for the Connecticut Law Tribune. Follow him on Twitter @RobertSCTLaw or reach him at 203-437-5950.
