Macy's nationwide shut down on March 18th due to the COVID-19 pandemic.
Now, for Memorial Day weekend they are expecting to reopen 80 stores. According to CEO Jeff Gennette who is Macy's chairman he said that the company lost up to $1.1 billion for the quarter. 80% of the store will either be open up or offering curbside pickup. Most stores will be opened back up again by late June.
Gennette stated "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, noting customer demand has been moderately higher than we anticipated."
What are your thoughts?