U.S. ports handled 1.53 million TEUs in May, down 17% year over year. June is estimated at 1.69 million TEUs, down almost 6% compared to last year.
What happened
Let Supply Chain Dive's free newsletter keep you informed, straight from your inbox.
Why it matters
Retailers are faced with fairly unpredictable consumer demand and a volatile freight market as states begin to reopen stores and restaurants, while news of surging coronavirus cases continues.
"We’re starting to go out to eat and buy clothing again, but how sustainable is that?" Hackett Associates Founder Ben Hackett said in a statement. "The danger is that the rising number of virus infections is leading to renewed restrictions, which may cause demand to weaken again."
Many retailers will also have to work their way through unsold inventory from the time their stores were closed. A 14% decline in retail sales in April pushed the national inventory-to-sales ratio to a historic apex.
This news brief is based on reporting published by Supply Chain Dive on 2020-07-09. The original report is linked below.
Supply Chain Dive
https://www.supplychaindive.com/news/nrf-forecasts-lowest-peak-season-since-2014/581293/This independent news brief is based on the public source identified above. It is an original summary or translation, not a reproduction of the source article. Rights in source text, research, trademarks and images remain with their respective owners; images are used under the licence or permission identified in the credit. Rights holders may contact rights@goodproductasia.com with evidence of ownership. Verified concerns will be corrected, replaced or removed promptly. This report is not investment, legal, medical or purchasing advice.
