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Macy’s Q1 Loss Swells to $652 Million as Sales Plunge 45%

Rivet's 2020 Denim Circularity report takes a deep dive into how the global denim industry is plotting its circular future amidst a worldwide pandemic.

Reopened Macy’s stores may be doing better than expected, according to the company, but first-quarter losses from the impact of COVID-19 have already ballooned to $652 million. In preliminary results released Tuesday, Macy’s Inc. said its $652 million net loss will translate to $2.10 per diluted share, against net income of $136 million, or 44…

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