Macy’s May Temporarily Close More Stores As COVID Cases Climb And Threaten Crucial Holiday Shopping Season

Macy’s could face more temporary store closures as coronavirus cases rise rapidly across the U.S., impeding its recovery and the all-important holiday shopping season, executives said Thursday. “COVID is surging again across the country,” CEO Jeff Gennette said during a post-earnings call with analysts. “And that continues to impede our recovery, in international tourism and urban areas. And the supply chains have opened up, yet problems remain.” The retailer’s online business, which grew 27% during the latest quarter, is expected to rise “at a very aggressive rate” and could expand even faster, depending on whether states and cities shutter stores again, Gennette added. Read more at CNBC.