Macy’s Q1 sales down to $3,017 million from $5,504 millionChristian Fernsby ▼ | June 11, 2020
Macy’s posted dismal preliminary numbers for first quarter fiscal 2020.
Macy’s The company’s gross margin came in at $516 million in the 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. ■