Despite trimming jobs and minimizing operations as COVID-19 spread earlier this year, large U.S. companies now say that’s not enough. As a result, thoughts of a recovery anytime soon have been put on hold, The Wall Street Journal (WSJ) reported. “We cannot defy gravity and continue with the business model we had before the pandemic,” Pret A Manger CEO Pano Christou told the newspaper. On Friday, Pret A Manger reported an 87 percent drop in U.S. sales and revealed plans to close nearly 20 stores, WSJ reported. “We’re seeing stalling demand growth at this point,” Delta CEO Ed Bastian told WSJ.

Source: Wall Street Journal July 20, 2020 00:36 UTC