Over half of industry companies saw sales declines of 50% or greater during the month of April compared to the prior year and 76% of them received some form of government financial assistance, according to a May survey conducted by SFIA of 228 vendors, retailers and others. In addition, between 40% and 45% of those seeing a drop in revenue said they had furloughed or laid off employees, reduced staff salaries or reduced hours. Some 22% had seen a sales decline but had not changed employee compensation while 9% had not seen a drop in revenue. Companies with fewer than ... Log in to view full article.