https://www.retaildive.com/news/retail-sales-could-remain-down-by-double-digits-through-2021-fitch-says/575781/ Not only M but a lot of retail til 2021
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In an email sent to the entire workforce of San Francisco-based reviews-and-ratings platform Yelp, its co-founder and CEO Jeremy Stoppelman announced that by this afternoon, over 2,100 employees would be left without a job, while others would have their hours (and, presumably, pay) cut.
The message was also posted to Yelp’s blog. In it, Stoppelman wrote that as a result of the coronavirus crisis, “interest in restaurants, our most popular category, has dropped 64 percent since March 10, and the nightlife category is down 81 percent.” Other business categories experienced similar drops, which means “we have had to make some incredibly hard decisions to reduce our operating costs.”
Those decisions, Stoppelman says, mean “we will let 1,000 of our colleagues go and furlough approximately 1,100 more, while reducing hours for others.”
Agree and this is good news since mall based retail has no future ...