The coronavirus is magnifying the challenges that troubled retailers faced before the pandemic as they continue to seek financial lifelines. GNC recently declared bankruptcy as well as retail closings, while Macy’s unveiled additional cost-cutting measures. And retailers from brick-and-mortar chains to eTailers are stepping up to sell face masks amid COVID-19. All this, Today in Data.
3,900: Approximate number by which Macy’s plans to reduce its corporate and management headcount.
$365M: Rough amount Macy’s expects to save in fiscal 2020.
$9.99: Cost of a monthly subscription for one mask with MaskClub.
Selected by Fintech Tube