20,000 to 25,000 stores to shutter this year.
While overall retail sales in the United States have rebounded relatively quickly following an unprecedented dip due to the COVID-19 pandemic, some retail categories are still trailing 2019 sales levels by a significant margin halfway through 2020. Sales of clothing and accessories stores for example have been almost 40 percent lower in the first six months of 2020 compared to the previous year, with electronics retailers and bookstores also heavily hit by the pandemic.
