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

Canada News News

Macy's delays first-quarter results to July 1, citing COVID-19 disruption
Canada Latest News,Canada Headlines
  • 📰 Reuters
  • ⏱ Reading Time:
  • 39 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 19%
  • Publisher: 97%

Department store chain Macy's Inc 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.

FILE PHOTO: A security guard rides past a closed Macy's department store at The Galleria shopping mall after the mall opened during the coronavirus disease pandemic in Houston Texas, U.S., May 1, 2020. REUTERS/Adrees Latif

- Department store chain Macy’s Inc 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.“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.Reporting by Praveen Paramasivam in Bengaluru; Editing by Arun Koyyur

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

Reuters /  🏆 2. in US

Canada Latest News, Canada Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Greece says it'll re-open to tourists on July 1 as it claims success over Covid-19Greece says it'll re-open to tourists on July 1 as it claims success over Covid-19With almost a fifth of its recession-battered economy dependent on tourism, Greece wants to start receiving foreign tourists in just a few weeks, according to Prime Minister Kyriakos Mitsotakis, who says the country can take pride in its apparent success in tackling coronavirus.
Read more »

Milan Prepares to Launch Its First Ever Digital Fashion Week in JulyMilan Prepares to Launch Its First Ever Digital Fashion Week in July'It's important for us to convey the message that fashion has not stopped,' an organizer said.
Read more »

Milan Launching First Ever Digital Fashion Week in JulyMilan Launching First Ever Digital Fashion Week in JulyFashion shows have been put on hold since March due to the coronavirus pandemic
Read more »

Paris to hold men's fashion week in virtual format July 9-13Paris to hold men's fashion week in virtual format July 9-13'This event will be structured around a dedicated platform,' the Federation de la Haute Couture et de la Mode said in a statement. 'Each house will be represented in the form of a creative film/video.'
Read more »

British Airways Owner Reports $1.8 Billion Loss, Hopes To Resume Flights By JulyBritish Airways Owner Reports $1.8 Billion Loss, Hopes To Resume Flights By JulyInternational Airlines Group has cut 94% of its flights in the midst of coronavirus travel restrictions.
Read more »

British Airways Owner Reports $1.8 Billion Loss, Hopes To Resume Flights By JulyBritish Airways Owner Reports $1.8 Billion Loss, Hopes To Resume Flights By JulyBritish Airways parent company IAG recorded a $1.8 billion (£1.5 billion) loss in the first 3 months of the year—as widespread travel restrictions caused by coronavirus prompted the group to slash 94% of its flights
Read more »



Render Time: 2025-03-17 19:53:47