The global health crisis has forced brick-and-mortar retailers to tap credit lines, lay off employees and suspend dividends and buybacks in a bid to stay afloat. “While our stores are reopened, we expect that the COVID-19 pandemic will continue to impact the country for the remainder of the year,” Chief Executive Officer Jeff Gennette said in a statement, adding that the retailer did not expect another total shutdown of stores. Macy’s, which also owns Bloomingdale’s, said net sales for the first quarter through May 2 nearly halved to $3.02 billion. …read more
Source:: Yahoo Finance
