Macy's loses $3.58B in first quarter

Macy's reported a loss of $3.58 billion in the first quarter as the retailer saw its sales nearly cut in half as stores were forced to close due to the novel coronavirus pandemic. "While our stores are re-opened, we expect that the COVID-19 pandemic will continue to impact the country for the remainder of the year," Chief Executive Officer Jeff Gennette said in a statement.