Given that all Best Buy’s physical stores were closed for six weeks of the quarter and that it sells mostly bigger ticket discretionary products, a sales decline of 6.3% is nothing short of a remarkable result.
Some retail shops, restaurants, fitness centers, and movie theaters that survive the pandemic panic may be paying much lower rents in the coming years.
Retail landlords nationwide have been telling tenants to obey their leases and pay their rents because the landlords themselves have to continue to maintain properties and pay their taxes and mortgages.
