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Photo: Andrew Chin/Getty Images

Clothing brand Brooks Brothers on Wednesday filed for bankruptcy, per Marketwatch, becoming the latest retail giant to topple amid the coronavirus pandemic.

Why it matters, via Axios' Dan Primack: Brooks Brothers is the poster child for the retail apocalypse. Legacy retail brands were already struggling before the pandemic, facing the death of brick-and-mortar stores as shopping shifts online. The company, which has relatively little debt and no private equity owners, still generated around 80% of its sales in physical stores that have been mostly shuttered for months — as demand for business attire has cratered with consumers working from home.

Go deeper

Dion Rabouin, author of Markets
Oct 1, 2020 - Economy & Business

The holiday shopping season will now begin in October

Illustration: Eniola Odetunde/Axios

Amazon's decision to move its Prime Day to Oct. 13–14 this year will pull the whole holiday shopping season forward by more than a month and help make online retail bigger than ever, as more families shop electronically and jostle to get presents purchased ahead of December holidays.

Why it matters: The reality of the coronavirus pandemic pushing people toward e-commerce combined with the pull of Amazon Prime Day and the Christmas shopping season this year are setting up a bonanza for retailers — but only those with the ability to offer steep discounts, delivery and an attractive online platform.

Thousands of trees near giant sequoia groves to be removed after fires

A firefighter looks up at a giant sequoia tree after fire burned through the Sequoia National Forest near California Hot Springs, California, on Sept. 23. Photo: Patrick T. Fallon/AFP via Getty Images

"Upwards of" 10,000 trees near giant sequoia groves have been "weakened by drought, disease, age, and/or fire" and must be removed in the wake of California's wildfires, the Sequoia and Kings Canyon National Parks announced.

Why it matters: The damage to these trees, considered "national treasures," and work to remove them means a nearby key highway must remain closed to visitors as they have "the potential to strike people, cars, other structures, or create barriers to emergency response services," per a statement from the national parks.

Obama stumps for McAuliffe, urges Virginians not "to go back to the chaos"

Photo: Win McNamee/Getty Images

Former President Barack Obama framed a Nov. 2 gubernatorial race as a bellwether for the Democratic Party and the country, telling a crowd at a campaign event for Terry McAuliffe on Saturday that "I believe you, right here in Virginia, are going to show the rest of the country and the world that we're not going to indulge in our worst instincts."

Why it matters: With just over a week to go before Election Day in the Commonwealth, McAuliffe is bringing out the big guns. The 44th president appeared on the campus of Virginia Commonwealth University to urge supporters to get to the polls.