Macy's: heavy loss in Q2
(CercleFinance.com) - Macy's has reported a Q2 adjusted net loss of 251 million dollars, or 81 cents per share, compared to adjusted EPS of 28 cents a year ago.
The department store chain's sales fell by 36% to 3.56 billion dollars, including a 34.7% decline on a comparable basis for directly-operated stores, although a 53% increase at its digital business.
Macy's points out that it previously withdrew its sales and earnings targets for the current fiscal year, given the continuing uncertainty resulting from the Covid-19 pandemic.
Copyright (c) 2020 CercleFinance.com. All rights reserved.
The department store chain's sales fell by 36% to 3.56 billion dollars, including a 34.7% decline on a comparable basis for directly-operated stores, although a 53% increase at its digital business.
Macy's points out that it previously withdrew its sales and earnings targets for the current fiscal year, given the continuing uncertainty resulting from the Covid-19 pandemic.
Copyright (c) 2020 CercleFinance.com. All rights reserved.