Retailers nationwide are trying to figure out what normalcy looks like for shoppers in the era of the coronavirus, but the new normal is a moving target.
Retail sales plummeted 16.4% in April, on top of a drop of 8.3% in March, according to the U.S. Census Bureau. The rapid decline can be attributed to government-required retail store closures.
Mall owners have been hit hard as many tenants can't pay rent, and possibly teeter on the edge of bankruptcy. Tanger Factory Outlet Centers (NYSE: SKT) is one of those property owners waiting to see what happens next. With its stock down 58% year to date, the company hopes happier days are ahead.
Source Fool.com