Name: Struggling retailers hope for a Christmas miracle
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Struggling retailers hope for a Christmas miracle

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Illustration: Eniola Odetunde/AxiosRetailers on the brink are counting on what's possibly the most uncertain holiday season ever for a last shot at survival.Why it matters: Giants like Amazon and Walmart (plus those that have benefited from work-from-home needs) are thriving. For others, the all-important shopping season is unfolding against the bleakest backdrop for the industry in years. The backstory: The pandemic — and the economic cratering that accompanied it —intensified a long, slow industry decline that’s been underway for the past decade. The retailers still treading water are coming up on what's always been their most crucial season — and there's no guarantee it will deliver. What they’re saying: This holiday season is struggling retailers' "last effort to be relevant for the consumer and to prove their reason for existence," Sarah Wyeth, a retail analyst at credit rating agency S&amp;P Global, tells Axios.What's at stake: Struggling chains may not be able to make critical investments to stand out against better-capitalized competitors. Yes, but: The retailers that wiped out debts in bankruptcy court since filing at the onset of the pandemic could have more runway to spend.What to watch: “There will be more challenges for retailers as the employment picture seems to be softening,” James Knightley, an economist at ING, said in a research note this week.The bottom line, as business turnaround adviser David Berliner told : “A lot of on-the-edge retailers are saying, 'Let’s get one more holiday season under our belt. Maybe we can get a good holiday somehow.'"The election has record breaking fundraising and huge early voting totals. That adds up to lots of voter enthusiasm, especially among Democrats. Politics: Trump says if Biden's elected, — on campaign call — Fauci says . Health: Coronavirus hospitalizations — 8 states set .Business: Consumer confidence surveys — from coronavirus.Sports: We've entered the .Education: Why education technology .During a campaign call on Monday, President Trump slammed infectious disease expert Anthony Fauci, calling him and that "people are tired of COVID," according to multiple who listened to the call. Driving the news: CBS's "60 Minutes" aired an interview night with the NIAID director, where he said he was "absolutely not" surprised Trump contracted COVID-19 after seeing him on TV in a crowded place with "almost nobody wearing a mask."

Illustration: Eniola Odetunde/AxiosRetailers on the brink are counting on what's possibly the most uncertain holiday season ever for a last shot at survival.Why it matters: Giants like Amazon and Walmart (plus those that have benefited from work-from-home needs) are thriving. For others, the all-important shopping season is unfolding against the bleakest backdrop for the industry in years. The backstory: The pandemic — and the economic cratering that accompanied it —intensified a long, slow industry decline that’s been underway for the past decade. The retailers still treading water are...

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Struggling retailers hope for a Christmas miracle

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