Jeff Gennette, CEO of Macy’s.
Macy’s said Tuesday that the huge sales gains it posted in the first quarter aren’t a fluke.
“We don’t see this as a short-term pop,” Chief Executive Jeff Gennette said during an earnings conference call. “There are pent-up demand opportunities … that give us confidence for accelerated profitable growth in 2021 and beyond.”
Macy’s sales in the latest quarter grew to $4.7 billion from $3 billion a year earlier, helping it to turn a surprise profit and prompting it to raise its forecast for the year.
The company is lapping a period when its department stores were forced shut due to lockdowns that were put in place to help curb the spread of Covid-19….