As many states across the US began to hastily reopen their economies and lift stay-at-home orders, the number of new coronavirus cases began to suddenly increase. The new spike in infection rates has caused some retail stores to reconsider the reopening of some locations hit hard by the pandemic.
Apple Inc first began to temporarily close its retail locations back in March as a means of curbing the spread of the deadly virus. Many of Apple’s stores reverted to strict protocol regarding consumer shopping, and implemented curbside pickup, shopping by appointment, as well as mandatory social distancing and mask requirements. Then, as some states lifted restrictions for non-essential businesses such as retail stores, Apple subsequently reopened many of its locations.
However, now that there is a sudden spike in coronavirus cases with a potential second wave looming ahead, Apple has decided to once again close its retail stores as a means of mitigating the spread of infection. The reinstated temporary closures will impact a total of 11 retail locations across several states including Arizona, South Carolina, North Carolina, and Florida. As a result of the store closures, Apple shares reported a drop on the news.
Information for this briefing was found via Bloomberg. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.