 At the start of 2020, retailers were in expansion mode, plotting new stores and launching new product lines. When the coronavirus pandemic took hold in March, retailers were forced to adjust plans on the fly: introducing new fulfillment options like curbside pickup to accommodate customers' changing needs, and managing excess inventories.
Despite those adaptations, the challenges of the pandemic proved to be too much for many retailers, forcing them to furlough or lay off staff, close stores or, in some cases, file for bankruptcy.
As this year of upheaval comes to a close, Retail Dive looked back at some of the news moments that defined 2020. We pulled together our top picks below. We hope that revisiting some of these stories puts the year in context and helps you plan for the year ahead.
As we head toward 2021, we ask that you consider sharing our newsletter with your teammates and colleagues, to help them stay informed in the new year. Share this link to get them signed up: https://www.retaildive.com/signup/insiders/?signup_referred_by={profile.id}
 Caroline Jansen
Associate Editor, Retail Dive
Email | Twitter The department store is also closing its Cincinnati headquarters, moving macys.com out of San Francisco, and cutting some 2,000 jobs. |
With stores staying shut due to the pandemic, retailers are taking various financial measures and their lowest paid employees are adrift. |
Streamlining in-store checkout technology is one way the retailer is responding to consumer concern during the COVID-19 pandemic. |
Analysts with the ratings firm think sales could still be down in double digits for some retailers in 2021. |
UPDATED The company plans to close about 242 stores and has new access to cash as it looks to shed debt and sell assets in Chapter 11. |
But how those messages are received depends on the core values of the business, experts say. |
The move follows a lawsuit from Simon Property Group. Gap Inc. says it's working with landlords but that some stores may need to close permanently. |
UPDATED The pandemic ushered in a wave of major bankruptcies — 29 since the start of the year — as retailers struggled to pay rent, vendors and other expenses. |
The apparel conglomerate focused on operational improvements at its annual meeting, and made clear its dependence on Old Navy. |
By 2023, the beauty retailer will be winding down its partnership with one department store and ramping up its deal with another. | | |
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