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Macy’s Q1 sales down to $3,017 million from $5,504 million

Christian Fernsby ▼ | June 11, 2020
Macy’s posted dismal preliminary numbers for first quarter fiscal 2020.
Macy’s
Macy’s   The company’s gross margin came in at $516 million in the quarter
The department store retailer’s net sales amounted to $3,017 million in the fiscal first quarter compared with $5,504 million reported in the year ago quarter.

Moreover, the company’s gross margin came in at $516 million in the quarter under review.

Notably, Macy’s had reported gross margin of $2,101 million in first quarter fiscal 2019.

During the fiscal first quarter, the company reported operating loss of $969 million against operating income of $203 million in the year-ago period.

In the fiscal first quarter, Macy’s reported adjusted EBITDA loss of $689 million.

The company had reported adjusted EBITDA of $447 million in the year ago quarter.


 

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