As we are all aware, the COVID-19 pandemic has had an uneven influence on the retail industry, with certain sectors enjoying their best year ever while others have had their worst. The pandemic has resulted in the largest increase in sales, earnings, and stock values for various retail businesses. The pandemic had an especially detrimental impact on companies that particularly specialized in clothing such as department stores, and luxury shops in enclosed malls. For people who have large debt, the effect on the discretionary sectors has multiplied. The shift of sales from brick and mortar stores to online has been significant for many retail businesses.
To find out more about what CFOs in the retail industry went through, DigitalCFO Asia spoke with Jheeva Subramanian, Chief Financial Officer, BHG to garner further insights.