Macy’s delays first-quarter results to July 1, citing COVID-19 disruption By Reuters

© Reuters. A security guard rides past a closed Macy’s department store at The Galleria shopping mall after the mall opened during the coronavirus disease (COVID-19) pandemic in Houston

(Reuters) – Department store chain Macy’s Inc (N:) on Thursday delayed its first-quarter earnings report to July 1, citing significant business disruption due to the COVID-19 pandemic, which has also led to delay in financial statement preparation.

Last year, it reported https:// results on May 15 and in 2018 on May 16.

“These are unprecedented times for the country, the retail landscape and Macy’s,” Chief Executive Officer Jeff Gennette said.

Macy’s, like many retailers, has had to close its stores, furlough employees, suspend dividend and tap into credit facilities to survive the financial hit caused by the lockdowns.

The company said it would release preliminary sales results on May 21, followed by a discussion involving CEO Gennette and J.P. Morgan analyst Matt Boss.

It would report some preliminary first quarter financial results in June.

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.

Be the first to comment

Leave a Reply

Your email address will not be published.


*