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May 22, 2020

Macy's hefty loss reveals challenges among mall stores

  • The pandemic is widening the divide between big box stores like Walmart and Target and mall-based clothing chains.
    • By ANNE D'INNOCENZIO
    AP Retail Writer

    NEW YORK — Macy's warned Thursday that it could lose more than a $1 billion and see sales fall at least 45% during its first fiscal quarter after the coronavirus pandemic paralyzed retail operations nationwide.

    The dire preliminary report from the iconic department store chain offers the latest evidence that the pandemic is widening the divide between big box stores like Walmart and Target and mall-based clothing chains.


     
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