Macy’s – famous for kicking off the holiday season with its televised Thanksgiving Day Parade -- said the company is expecting an “elongated” holiday shopping season during the coronavirus pandemic, with consumers beginning their shopping way in advance of Turkey Day.
After announcing it would close around 125 stores in February, Macy’s Inc. is going to test their luck with smaller stores that away from underperforming malls.
Macy's loss narrowed from the previous quarter as the department store chain continued to see relief following its COVID-19-induced lockdowns.
A month before the coronavirus-related shutdowns started, the retailer said it would close about 125 stores -- roughly one-fifth of all locations -- and cut 2,000 jobs over the next three years.
Macy's CEO Jeff Gennette told analysts Wednesday said that the department store will be pivoting its Black Friday business more toward online and will likely be going "full force" with holiday marketing right after Halloween.
Macy's took a $3.2 billion first-quarter writedown due to the impact of COVID-19.
Macy's Inc said on Thursday it would lay off about 3,900 employees in corporate and management positions to help lessen some of the financial strain of dwindling sales due to the COVID-19 pandemic.
Beginning June 29, the 44th edition of the iconic show will run five minutes apiece from select locations across each New York City borough over the course of three days .
Video shows man attacked while working at a Flint, Michigan, Macy's earlier this month.
A video, posted by NYPD crime stoppers, shows a group of individuals, some clad in masks, forcing their way into the department store with what looked liked hammers and baseball bats around 9:40 p.m. Monday evening.
Macy's CEO Jeff Gennette said strong digital sales boosted the company's earnings.
Macy's new financing includes $1.3 billion of 8.375 percent senior secured notes and a new $3.15 billion asset-based credit agreement.
On Tuesday, FOX Business found that many iconic stores on Fifth Avenue had boarded up their windows to prevent looting during the night.
Video shows looters rushed into the Herald Square store overnight.
The late-night curfew failed to prevent another night of destruction.
Martha Stewart dishes on how retailers and small business owners can pivot to make a comeback during the coronavirus pandemic.
Macy's sales sank as much as 45 percent as the COVID-19 pandemic prompted a nationwide lockdown.
The department store giant, like many other retailers, temporarily closed all of its stores to help contain the spread of the virus, baring the financial burden as a result and furloughing the majority of its staff in March.
Macy's said the next batch of roughly 50 stores is scheduled to reopen May 11.
Stores have been closed or online-only to curb the spread of the virus.