Lights shine near a closed Macy’s Herald Square as people remain at home to stop the spread of coronavirus on March 29, 2020 in New York City.
Noam Galai | Getty Images
Macy’s said Thursday it expects first-quarter sales to fall by as much as 45%, and it could report a loss of more than $1 billion, as the department store operator was forced to shut stores amid the Covid-19 crisis.
Its shares were recently falling about 1% in premarket trading on the news.
The company also said in an investor presentation, walking through its first-quarter forecast, that it expects to have “sufficient liquidity” to execute on its 2020 priorities.
Macy’s is expected to report fiscal first-quarter…