Mar 17, 2020 - Economy & Business

Nordstrom and Foot Locker close North America stores over coronavirus

A Nordstrom store in Manhattan. Photo: Spencer Platt/Getty Images

Nordstrom and Foot Locker announced the temporary closure of their stores, effective Tuesday, in response to the novel coronavirus outbreak.

Details: Nordstrom said in a statement all of its U.S. and Canada stores would remain closed for two weeks and it withdrew its fiscal 2020 forecast that it issued on March 3 because it said it "did not include the impact of COVID-19." Foot Locker's North America stores will remain closed through March 31.

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Jacob Knutson

Major retailers close doors in U.S. in response to coronavirus outbreak

Apple's flagship store in New York City. Photo: Stephanie Keith/Getty Images

Major retailers are closing their doors or reducing their open hours across the United States in an effort to blunt the spread of the novel coronavirus.

Why it matters: While the closures may help slow the outbreak, they will also hamper the already-stressed retail industry, according to CNBC.

Go deeperUpdated Mar 17, 2020 - Economy & Business

Axios

Macy's to furlough 130,000 employees

Macy's flagship store in New York, March 24. Photo: John Lamparski/NurPhoto via Getty Images

Macy's will furlough the majority of its workers this week, as the company's stores remain closed due to the coronavirus outbreak, the Wall Street Journal reports.

Details: Macy's sales have seen a drastic decline, having shuttered its stores on March 18. The company employs about 130,000 people, per the Journal. It will retain workers for its e-commerce operations, distribution and call centers. The chain told staff it will continue to cover 100% of its employees' health care premiums at least through May.

Go deeperMar 30, 2020 - Economy & Business

Kia Kokalitcheva

Apple is closing non-China stores amid coronavirus spread

Photo: Ding Junhao/VCG via Getty Images

Apple announced it will close all its retail stores worldwide except for greater China until March 27 amid the rapid spread of the novel coronavirus, and will donate $15 million to help mitigate its impact.

Why it matters: Apple's stores are a significant revenue generator for the company, but the flip-side of the company's efforts to make them community gathering spots is that they're now posing a risk as authorities warn against crowd gatherings.

Keep ReadingMar 14, 2020 - Technology