Macy's Losses Deepen, Retailer Details Pandemic Game Plan
Macy’s Inc., transforming into a “smaller, more leveraged” company, warned Wednesday that stores are likely to re-close where coronavirus cases are increasing again.
Since temporarily closing all of its stores in mid-March, Macy’s has been able to reopen all but six, but as its chairman and chief executive officer Jeff Gennette said Wednesday, “The COVID-19 pandemic is still in full swing in some parts of the country. And while we do not expect another national shutdown, we do anticipate a regional impact as consumers are encouraged to stay home. We do expect regional flare-ups that we don’t know fully where they’re going to go yet.
“Most of our stores are currently on reduced hours and will remain flexible to meet demand,” Gennette said during a conference call. “The health and safety of our colleagues and customers is our top priority, and we have a resurgent game plan in place that will guide us if we need to close a single store or a regional group of stores.”
Concerns were amplified by Apple’s decision to temporarily close 30 stores in the U.S. this week, on top of the 47 previously closed due to the spike in coronavirus cases in Texas, Florida, California and elsewhere.
On Wednesday, a coronavirus-impacted Macy’s Inc. reported a first-quarter adjusted loss of $630 million, compared to a profit of $137 million in the year-ago quarter.
https://www.yahoo.com/news/macy-deepens-losses-details-pandemic-182645310.html
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spokesperson at one time & how we strongly objected on DU.
And, now.. omg, look what happened because of him.
Everything he touches turns to Shite.