Credit watchdog Fitch Ratings has downgraded Macy’s, Kohl’s, J.C. Penney and Levi Strauss.
The coronavirus has already begun causing casualties in the retail world. L Brands’ sale of the lingerie business might be next.
But the effects of the coronavirus Stateside are yet to be seen.
Temporary store closures, work-from-home mandates and a halt to major air traffic means retailers in particular are under extended financial pressure.
Sarah E. Nash will begin once the sale of the lingerie company is complete.
The innerwear and activewear company has begun its search for his successor.
Company shares fall, along with the Dow Jones as virus continues to spread across the globe.
Meanwhile, the stock market continued to fluctuate.
The e-commerce company said it sold more products around the world this year than ever before.
And at the opening bell, major indices plunged with retail stocks in particular suffering steep declines as investors dropped out following weak earnings reports last week.