UPDATE 4-Macy's to be 'smaller company' as loss to hit $1 bln in quarter amid lockdowns
May 21, 2020 at 11:32 AM EDT
Macy's Inc said on Thursday it could rack up operating losses of up to $1.11 billion in the first quarter, as the department store operator was forced to shut stores due to lockdowns aimed at curbing the spread of the new coronavirus.