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Tory Burch On The Dire State Of The Retail Industry Due To The Pandemic | Forbes
Posted
March 25, 2020
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March 25, 2020
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3:02Now PlayingThousands of stores have gone dark. Shoppers have pulled back on discretionary spending. Thanks to the spread of coronavirus, retailers around the country are suddenly experiencing what’s it’s like to lose all of their revenue. “We’re all experiencing a shutdown of our business,” said fashion mogul Tory Burch, the founder of the eponymous brand in an interview on Tuesday. “In some cases, we have no revenue. In some cases, we’re limping along.”
Faced with such a bleak outlook, the industry is seeking immediate government aid to shore up its finances and save millions of jobs. Burch is leading the coordinated effort with the support of trade groups and dozens of retail executives. “We need help now. Or an entire industry could fail,” she said.
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