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Macy's delays first-quarter results to July 1, citing COVID-19 disruption

Published 05/07/2020, 05:11 PM
Updated 05/07/2020, 05:15 PM
© Reuters. A security guard rides past a closed Macy's department store at The Galleria shopping mall after the mall opened during the coronavirus disease (COVID-19) pandemic in Houston

(Reuters) - Department store chain Macy's Inc (N:M) on Thursday delayed its first-quarter earnings report to July 1, citing significant business disruption due to the COVID-19 pandemic, which has also led to delay in financial statement preparation.

Last year, it reported https:// results on May 15 and in 2018 on May 16.

"These are unprecedented times for the country, the retail landscape and Macy's," Chief Executive Officer Jeff Gennette said.

Macy's, like many retailers, has had to close its stores, furlough employees, suspend dividend and tap into credit facilities to survive the financial hit caused by the lockdowns.

The company said it would release preliminary sales results on May 21, followed by a discussion involving CEO Gennette and J.P. Morgan analyst Matt Boss.

It would report some preliminary first quarter financial results in June.

© Reuters. A security guard rides past a closed Macy's department store at The Galleria shopping mall after the mall opened during the coronavirus disease (COVID-19) pandemic in Houston

Latest comments

Macy's needs to close at least half of their stores. save the world sell the land the stores are on and give a few bucks to the ones that need it now.
not worry, no matter how ugly data, stock will only go up even much less customer inside the open stores.
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