March 25, 2020 / 3:29 PM / 7 days ago

BRIEF-Moody's Says Outlook For U.S. Retail Sector Revised To Negative On Expanding Covid-19 Pandemic

March 25 (Reuters) - Moody’s

* MOODY’S SAYS OUTLOOK FOR U.S. RETAIL SECTOR REVISED TO NEGATIVE ON EXPANDING COVID-19 PANDEMIC

* MOODY’S SAYS DEPARTMENT STORES, APPAREL & FOOTWEAR RETAILERS WILL BE WORST HIT BY COVID-19 OUTBREAK; SELLERS OF NON-DISCRETIONARY ITEMS WILL BENEFIT

* MOODY’S SAYS AS FALLOUT FROM SPREAD OF CORONAVIRUS BATTERS GLOBAL ECONOMY, U.S. RETAILERS ARE FACING UNPRECEDENTED MIX OF WOES

* MOODY’S SAYS U.S. ONLINE RETAILERS WILL ABSORB ONLY A FRACTION OF LOST SALES FROM STORE CLOSURES ARISING FROM THE COVID-19 OUTBREAK

* MOODY’S SAYS ONLINE-ONLY COS SUCH AS AMAZON.COM & CHEWY ARE BENEFITING AS CONSUMERS SHOP FROM CONFINES OF THEIR HOMES Source text for Eikon: Further company coverage:

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