The State of Fashion: Has the Corona Virus Killed Retail? Macy’s Lays off 130,000 Employees as the Virus Casts a Deathly Pall Over the Industry
has decided to ‘furlough’ most of its 130,000 employees due to the negative economic impact Covid-19 has had on sales.
With non essential businesses closed until further notice, large Brick & Mortar stores like Macy’s 34th street flagship have suffered greatly. With store closings extended for another 2-4 weeks, we can only pray that this does not lead to the end for the iconic American retailer. In times like these, when families are focused on essentials, financials, and keeping their heads above water, it’s hard to think about fashion. Fashion is a luxury, and clothes are for going places, not sitting inside, staring out the window for signs of life.
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