The outbreak of the coronavirus has dealt a shock to the global economy with unprecedented speed. Following are developments Friday related to the national and global response, the work place and the spread of the virus.
— Big Lots is seeing the continuation of strong demand that started in mid-April, with second quarter-to-date comparable sales through fiscal June increasing well ahead of expectations.
The discount retailer now anticipates second-quarter comparable sales will be up by a mid-to-high twenties percentage. Big Lots said Friday that it is in a very strong liquidity position, with current cash and short-term investments of approximately $890 million, and no amounts drawn on its $700 million revolving credit facility.
— Shopping mall owner Intu Properties is scrambling to avoid bankruptcy after failing to strike a deal with its creditors. The London-based company is being hammered by lower rent payments from retail clients during