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COVID-19 Industry Pulse Report: Retail Sector
Executive Summary
The rapid spread of COVID-19 pandemic has caused an unprecedented global shock, both on a humanitarian and an economic level. As most countries are relaxing lockdown measures, uncertainty in navigating the impact of the pandemic on the economy remains.
As part of our efforts to contribute to the understanding and discussion of the impact of COVID-19 on the Cyprus economy, we are pleased to share a new Industry Pulse report on the Retail sector, adding to the series of reports for Banking, Real Estate and Tourism Sectors.
This report aims to provide a sector-specific perspective on the COVID-19 impact, fiscal and monetary policy, recovery scenarios, trends and recommendations. The Retail sector is now facing a downturn triggered by extraordinary changes in consumer behaviour and, as such, there is a real challenge in deciphering and capturing the magnitude of the impact.
Stay safe and connected.
For additional information with respect to this Alert, please contact the following:
Stelios Demetriou
Partner, Head Strategy and Transactions
+357 22 209 746
Athanassios Mavros
Partner, Advisory Services, EY Greece
CESA Leader for Sypply Chain & Operations
+30 210 288 6009
Charalambos Constantinou
Partner, Head of Advisory Services
+357 22 209 774
Charalambos.Constantinou@cy.ey.com
Alexandros Pericleous
Director, Strategy and Transactions
Tel: +357 22 209 793
Alexandros.Pericleous@cy.ey.com
Renos Solomides
Manager, Strategy and Transactions
Tel: +357 22 209 748
EY | Assurance | Tax | Transactions | Advisory
About EY
EY is a global leader in assurance,tax,transaction and advisory services.The insights and quality services we deliver help build trust and confidence in thecapital markets and in economies the world over. We develop outstanding leaders who team to deliver on ourpromises to all of our stakeholders.In so doing, we play a critical role in building a better working world for our people, for our clients and for our communities. EY refers to the global organization, and may refer to one or more, of the member firms of Ernst & Young Global Limited, each of which is a separate legal entity. Ernst & Young Global Limited, a UK company limited by guarantee, does not provide services to clients.
For more information about our organization,please visit ey.com © 2020Ernst&YoungCyprusLtd All rights reserved. This material has been prepared for general informational purposes only and is not intended to be relied upon as accounting, tax, or other professional advice. Please refer to youradvisors forspecificadvice. ey.com/cy