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Macy’s Drops $3.5 Billion Bombshell as Covid Shreds Q1 Sales

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Despite an eye-watering $3.58 billion first-quarter loss and a 45.2 percent decline in sales due to the impact of store closures from the coronavirus, Macy’s Inc. CEO Jeff Gennette said the company has both the financial flexibility and game plan to address any new COVID “increases in cases on a regional level.” In a Nutshell:…

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