Better days might lie ahead for retail as COVID-19 vaccines help open up the economy — but how long will the good times last?
Mickey Chadha, a vice president and senior credit officer at the debt watchdog, said: “As pandemic pressures ease and the cadence of vaccinations accelerates, we expect the retail sector to experience broad-based improvement. Operating profit will grow a robust 10 percent to 12 percent in 2021, and hard-hit sectors such as apparel, department stores, and off-price will see the most pronounced operating profit growth over the next 12 to 18 months.
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