Coronavirus Could Start To Empty Shelves In Some U.S. Stores By Mid-April

Target Corp. and Best Buy Co. Inc. could be among the first U.S. companies to take a direct hit from the coronavirus outbreak as concerns grow about disruptions to supply chain networks in China. Although current inventories are strong at most of the nation’s big-box retailers, analysts from Wells Fargo warn that shoppers could start seeing empty store shelves as early as mid-April.

“We believe the time to start worry about the supply chain risk … is here,” the report said. Almost 60 million Chinese workers remain quarantined in their homes and others are staying away from work, afraid of catching the virus at crowded factories. So far, there have been more than 40,000 confirmed cases of the coronavirus and over 1,000 deaths.

As a result, there have been “dramatic reductions in activity” across China and operations have been slow to restart following the Lunar New Year holiday, the Wells Fargo report said. Retailers have started to express concerns. -Full Report

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