Macy's expects to report a first-quarter operating loss of between $905 million and $1.11 billion on projected sales of about $3 billion, down from $5.5 billion in the same period last year. "We anticipate that our sales recovery will be gradual and that for a period of time, we will be a smaller company," CEO Jeff Gennette said.
Macy's sees gradual recovery from pandemic slowdown
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