March 16, 2020
By Melissa Stanton
Initially the supply chain fears were originating in China where production facilities were closing, but even with factories coming back online the rest of the world remains in distress. Roughly 20% of U.S. retailers’ supply chains are exposed to China, where companies like Steve Madden and Best buy have over 60% of goods sourced from China. There is an estimated loss of at least $700 million to U.S. retailers and companies like Gap that said its “Not Currently Possible” to quantify the hit companies will take in 2020 as a result of the Coronavirus.