But there could be brighter days ahead for the overall retail sector, with another round of stimulus payments likely underway and vaccine distribution ramping up. President-elect Joe Biden to push for a $1.9 trillion coronavirus relief package when he comes into office on January 20.
The package includes $1,400 stimulus payouts and the extension of expanded unemployment benefits—providing additional monetary aid for Notably, the package also includes a large portion of funds going toward vaccine distribution and administration—adding to vaccine efforts—which should help bring down coronavirus cases in the coming months.
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