Macy's (M) PT Lowered to $4.50 at BofA Securities
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Macy's to be 'smaller company' as loss to hit $1 billion in quarter amid lockdowns
May 21, 2020 7:20 AM EDTBy Melissa Fares and Aishwarya Venugopal
(Reuters) - Macy's Inc (NYSE: M) said on Thursday it could rack up operating losses of up to $1.11 billion in the first quarter, as the department store operator was forced to shut stores due to lockdowns aimed at curbing the spread of the new coronavirus.
"We anticipate that our sales recovery will be gradual and that for a period of time, we will be a smaller company," Chief Executive Jeff Gennette said on a call with investors.
Shares were up nearly 3% at $5.22 in... More
Macy's (M) Reports Prelim. Q1 Sales of $3-$3.03 Billion
May 21, 2020 6:57 AM EDTMacys, Inc. (NYSE: M) today provided preliminary sales and operating results ranges for the first quarter of 2020. The company expects to provide select and preliminary first quarter 2020 financial results on June 9, 2020 and will release its first quarter earnings results and hold a related call on July 1, 2020.
Financial Highlights
Estimated First... More
