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Related: Editorials & Other Articles, Issue Forums, Alliance Forums, Region ForumsMacy's CEO: Our 700-plus stores are essential businesses during COVID-19
Best not tell Macys (M) CEO Jeff Gennette his 700-plus clothing, accessories and perfume stores are any less important during COVID-19 than a Walmart selling essential milk, bread, hand sanitizer and Clorox disinfecting wipes to quarantined households.
He may not take too kindly to the mere suggestion.
We definitely believe that we can operate through COVID and keep every one of our stores open. And I think we've clearly shown that we know how to keep our colleagues and our customers safe, Gennette told Wall Street analysts on a Thursday earnings call. And so that's what we're clearly pushing through the NRF [National Retail Federation] and RILA [Retail Industry Leaders Association] working with all of our municipal leaders as well, as governors. We don't believe that designation of essential and non-essential should play in retail, we believe you need to have a safe environment or not, we should be held accountable to health and safety standards. And we stand by those. And based on how we performed and based on how our customers have that signal to us. We're doing a great job of that.
Among the many retailers labeled as non-essential by lawmakers, Macys stores were shuttered from March 18 through May 4 as states mandated shelter-in-place measures at the height of the pandemic this year. Macys stores began to reopen in early May, with most being back in operation by the beginning of July. But with coronavirus infections back on the rise nationwide and states implementing new restrictions on indoor dining, schools and general activity, all eyes are on malls and retail stores such as Macys and if they will be forced to shut down again.
https://finance.yahoo.com/news/macys-ceo-our-700-plus-stores-are-essential-businesses-during-covid-19-171934220.html
Sherman A1
(38,958 posts)With some restrictions such as the number of people allowed in and mask requirements.
Bars and restaurants are another thing.
Dawson Leery
(19,348 posts)Wellstone ruled
(34,661 posts)and all that Debt they took on in order to pay Dividends and do buybacks is about to have a Bankruptcy Court date soon.