Earnings

Macy’s (M) reports Q1 2020 loss per share

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Macy’s at Valencia Town Center Mall opens for curbside pickup service during COVID-19 outbreak on May 21, 2020 in Santa Clarita, California.

Robin L Marshall | Getty Images

Macy’s said Wednesday it swung to a first-quarter loss, in line with its previously announced estimates, as the coronavirus pandemic helped slice sales nearly in half. 

Chief Executive Jeff Gennette said that nearly all of the company’s stores have since reopened and are performing ahead of expectations this month. He did not provide specifics but added that the department store chain continues to expect a “gradual sales recovery.” 

“We do not anticipate another full shutdown, but we are staying flexible and are…



Source cnbc.com

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