In the first quarter, Macy’s posted a big loss, but the company said recovery from COVID-19 pandemic-related shutdowns has been strong.
Coronavirus-related circumstances and the capabilities the company has developed to serve customers in new ways contributed to big gains The Kroger Co. made in the first quarter, the company asserted.
Macy’s has secured new financing to shore up its business, while revealing that its preliminary sales and earnings results for the first quarter included a loss and lower sales, although it said e-commerce and reopened stores are performing well.
For the first quarter, Kirkland’s posted a net loss on lower sales but e-commerce sales rose as it adapted to the coronavirus pandemic-impacted retail environment.
As it looks to a future beyond the COVID-19 crisis, Nordstrom pointed to its pursuit of strategic omnichannel initiatives even as the company reported sales and earnings declines in the first quarter.