Macy’s CEO Jeff Gennette told CNBC on Tuesday the uptick in U.S. Covid-19 vaccinations is already having a positive effect on the company’s top line.
Gennette said business from loyal Macy’s customers is already up by 10% from the company’s fiscal fourth quarter, which ended in late January. Macy’s is just two months its current fiscal quarter.
“That’s clearly the vaccine starting to take root,” he told CNBC’s Jim Cramer in a “Mad Money” interview. “We’re still taking a conservative view to this year. We’re more conservative in the front half than the back half, but it’s positive momentum that we’re bringing into this quarter with us.”
Macy’s said in its fourth-quarter report that it…