Press "Enter" to skip to content

Macy’s reopens more stores closed due to coronavirus



rssfeeds.usatoday.com

CLOSE

Pier 1 will close nearly half of its stores. Macy’s will close about a fifth of its locations over three years. J.C. Penney will close six stores.

Wochit

Macy’s, which shuttered its stores nationwide March 18 because of the coronavirus pandemic, expects to reopen 80 stores for Memorial Day weekend shopping on Friday.

The reopenings come as Macy’s chairman and CEO Jeff Gennette said the company is forecasting a loss of up to $1.1 billion for the quarter. He discussed the company’s preliminary sales for the first quarter of its 2020 fiscal year, which ended May 2, during an analyst call Thursday.

Macy’s, which plans to to release first quarter earnings results July 1, began reopening stores on May 4 and as of this week has opened 190 Macy’s and Bloomingdale’s stores.

About 80% of the store fleet will either be open or offering curbside pickup by Friday and most stores will be reopened by late June, Gennette said. Macy’s Inc., which includes Bloomingdale’s and Bluemercury, had 775 total locations, which included 551 Macy’s stores, as of February.

“We will continue to watch customer behavior closely as we reopen more stores, and we will remain agile and adjust our plans as we go forward and open up the remaining series of stores,” Gennette said, noting customer demand has been “moderately higher than we anticipated.”

Memorial Day 2020: What stores and restaurants are open for the holiday Monday? Because of COVID-19 fewer businesses than past years

Victoria’s Secret store closings 2020: Victoria’s Secret to close about 250 stores in the U.S. and Canada, Bath & Body Works to close 50

The stores reopening Friday are in Connecticut, Florida, Hawaii, Minnesota, Missouri, Pennsylvania, Virginia. Some locations previously opened are in Florida and Missouri, as well as in Arizona, Colorado, Georgia, Indiana, Nevada, North Carolina, Oklahoma, South Carolina, Tennessee and Texas.

Macy’s previously announced changes to its shopping experience with the reopenings, including “no-touch” consultations in beauty departments and the suspension of alteration services. Curbside pickup was rolled out as the company reopened and is now at approximately 300 stores, including stores that remain closed to the public, Gennette said. 

In February, Macy’s announced that it plans to permanently shutter around 125 stores over three years with around 30 stores that were slated to close in early 2020.

Paula Price, Macy’s chief financial officer, said Thursday that they are reevaluating the permanent closings and “taking a hard look at both the number of stores …  as well as the timing.”

Coronavirus store closings: Pier 1 Imports to shutter all stores nationwide in bankruptcy

Follow USA TODAY reporter Kelly Tyko on Twitter: @KellyTyko

Read or Share this story: https://www.usatoday.com/story/money/2020/05/21/coronavirus-reopening-macys-memorial-day-weekend-shopping/5234732002/





Source link

Be First to Comment

Leave a Reply

Your email address will not be published. Required fields are marked *