JCP - Coronavirus Could Destroy These Dying Retailers
The novel coronavirus outbreak that originated in China is in the early stages of spreading in the U.S. There are now more than 200 confirmed cases in the U.S. and at least 12 people have died. Both numbers could rise rapidly in the coming days and weeks as the virus continues to spread.
On top of the human toll, the economies in affected areas could seize up as businesses close and people avoid leaving their homes. If the virus spreads widely, the U.S. economy could very well be thrown into a recession.
If you're an investor, now is the time to make sure the companies in your portfolio are capable of surviving a prolonged period of depressed demand. That's especially important if you own shares of retailers. Some retailers, like Walmart, Costco, and Amazon, will be just fine, even if their results suffer for a while.