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Tuesday, May 18, 2021

Small clothing stores struggle to cope with ‘Corona’ days

Eccentricity, a women’s clothing store in Wellfleet, Massachusetts, is filled with innovative, loose-fitting fashions better suited to middle-aged and older women.

Gail McGibbon, who has run the store with her husband since 1985, gives disposable gloves to customers who want to try on clothes, masks for those who don’t already wear them, and plenty of advice on which shirt or necklace fits best with one or that pants.

“Many women work remotely from home now, and there aren’t any parties, weddings, or events,” says McGibbon. “Many of them resort to wearing sports pants and other comfortable clothes that they own a lot of. Currently, to buy a dress, you really need to. you love him”.

Retail clothing stores in cities, suburbs, and tourist sites are being hit hard by the epidemic, and several major companies have stepped forward, including J. Crew, Lord & Taylor, and Brooks Brooks Brothers has filed for protection under Chapter 11 of the bankruptcy laws, while other famous names such as Nike, Nordstrom and Macy’s have resorted to closing some of their stores or offering discounts. Huge losses on its goods, which may cause it more losses.

Backtrack takes control
David Deeds, who studies entrepreneurship at the University of St. Thomas in Saint Paul, Minnesota, says that the challenges are becoming greater for small independent stores, and he expects that business revenues will decrease by 50% over the next year, and possibly the next two or three years. Many of them survive.

According to Census Administration estimates, nationwide sales of clothing and shoes in the United States in just the first five months of 2020 fell by more than 40%.

Many companies do not have any cash reserves and lack the power normally required to renegotiate long-term contracts. “These companies need to exploit their close relationships with their customers and suppliers who would also weaken, should they collapse. These relationships are the main feature that is,” says Deeds. They are owned by these stores compared to the big retailers.

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