Retailers face an unprecedented situation with COVID-19 forcing the closure of stores for an uncertain amount of time. Basic, fashion, seasonal, and trend product is ‘trapped’ in stores and distribution centers, and possibly at third-party providers incurring storage costs. Product is stranded with overseas vendors and partners in various stages, from greige goods to finished product. Retailers must address critical questions and prioritize actions to weather the storm and ensure long-term viability.
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