Take a look at some of the biggest movers in the premarket:
Macy’s (M) – In a preliminary first-quarter report, the retailer said it expected revenue of $3 billion to $3.03 billion for the quarter, compared to an estimate of $3.3 billion. It also forecasts a larger-than-expected loss as it continues to feel the impact of virus-related store closures. Macy’s said it expected that most stores would be reopened by late June.
Best Buy (BBY) – The electronics retailer earned 67 cents per share for the first quarter, well above the 44 cents a share consensus estimate. Revenue also came in above forecasts. Comparable-store sales fell by 5.3%, but that was smaller than forecasts of a 10% drop.