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Macy’s (M) reports Q2 2020 net loss, same-store sales down 35%

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An indoor shopping mall is seen before having to close due to new restrictions by the State of California during the global outbreak of the coronavirus disease (COVID-19) in Carlsbad, California, U.S., July 14, 2020.

Mike Blake | Reuters

Macy’s said Wednesday its same-store sales tumbled 35.1% during the second quarter, despite a strong showing online. 

Its digital sales were up 53% from a year ago, it said, as more shoppers visited its website during the coronavirus pandemic to buy workout clothes and home decor. 

Macy’s shares rose more than 6% in premarket trading. 

“We are encouraged by our second quarter performance; however, we continue to approach the back half of the
year…



Source cnbc.com

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