Macy’s Inc reported a staggering $3.58 billion loss on Wednesday for its coronavirus-hit first quarter as store shutdowns resulted in the department store chain recording a $3 billion impairment charge.
Macy’s Inc said on Monday it would furlough most of its 130,000-strong workforce starting this week as all stores of the department chain operator have been temporarily shut due to the coronavirus pandemic.
There is nothing like a centenary to focus attention on a brand, especially one on the mend, like Fogal, considered by many as the nec plus ultra of legwear. A brand poised for a notable renaissance, post-coronavirus.
With North American retailers implementing store closures to combat the spread of Covid-19 since the weekend, Tuesday’s announcements have come from the likes of Macy's, Ralph Lauren, AEO, Foot Locker and Tapestry.