ATZAF - U.S. Consumer Spending Preview: Q2 2020
By Jharonne Martis
Retailers are getting ready to report Q2 2020 earnings. As they continue to navigate through uncharted territory, some are in financial distress while those with a solid omnichannel strategy are seeing strong double-digit e-commerce growth.
E-commerce platforms kept retailers running when COVID-19 forced store closures. During the Q1 2020 earnings season, retail winners reported record e-commerce sales. For Q2, retailers were signaling strong e-commerce sales, such as a 470% gain at Shoe Carnival (SCVL) and 200% at Hibbett Sports (HIBB). Shoppers are gravitating to online shopping and mobile devices for deliveries and