Nobody dares provide forecasts as the coronavirus outbreak continues to disrupt — and take — lives and business is screeching to a halt around the world. "The truth is that whatever is said today can be contradicted the next day. The pandemic is an event that is so new and different and that has no comparable metrics," said Vittorio Radice, vice chairman of Rinascente.

Rinascente is now part of the Thailand-based Central Retail Corp., also owns Copenhagen-based Illum, and has a majority stake in KaDeWe in Berlin among other brands. Standing in different countries, the groups are implementing the indications given by the Italian, Danish and German governments, which are all different.

As industry insiders and observers question how the coronavirus will impact prices and discounting, the seasonality of goods and fashion in general, Radice said "the spring stock that is arriving will not be sold, and as for the fall orders, who knows, it depends on when the stores will

reopen." Apart from the health of employees and associates, the key priority in terms of business now is cash and "understanding how to channel it." "For retailers, cash comes from the door of the store opening at 9 a.m.

and closing at 10 p.m. and if that door doesn't open, business is over."

full wwd article: Vittorio Radice on retailing as coronavirus spreads