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

Fashion is at a crossroads: continue with cutting-edge strategies developed to persevere during Covid or slide back into familiar (yet unprofitable) habits? Get the experts' perspective at our in-person Sourcing Summit, Oct. 19 at New York’s Cipriani 42nd Street.

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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