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Coronavirus hit China Lunar New Year sales hard

Photo by istock.com

February 19, 2020

The outbreak of the coronavirus in China hit retailers hard, with a potential loss of billions of dollars in sales — a revenue loss that may range from 20% to 80%, according to a Yahoo Finance report.

The report cites data from Rabobank, a top food and agricultural bank, which projects the revenue lost may range from $31 billion to $124 billion given major stores closing around the country due to the illness.