The outbreak is forcing management to accelerate some initiatives and pause others.
News & Analysis: Macy's
Macy's has been confronting major issues beyond the coronavirus pandemic and the economic fallout.
Shares of the department store chain dove as it was severely hit by the pandemic.
Sales declines and losses are moderating, but without a vaccine, it could be hard for the retailer to return to profitability.
M earnings call for the period ending May 2, 2020.
The pandemic ravaged its retail business over the last few months.
The advent of COVID-19 in the United States caught store chains' buyers by surprise and left them stuck with too many goods that are now tough to sell.
A multiplex operator, electric vehicle startup, and struggling department store operator all seem pretty vulnerable this week.
The COVID-19 pandemic left the department store giant with no choice but to address its unsustainable cost structure.
The retailer is letting a lot of heads roll, both at the corporate level and across the store network.