Macy's forecasts $1 billion quarterly loss due to lockdowns
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(Reuters) - Macy's Inc forecast a quarterly operating loss of up to $1.11 billion (£907.98 million) on Thursday, as the retailer was forced to shut stores due to lockdowns implemented to curb the spread of the coronavirus.The department store chain said it expects to post an operating loss of between $905 million and $1.11 billion. It also forecast first-quarter sales in the range of $3 billion to $3.03 billion, down from $5.50 billion a year earlier.Macy's had earlier this month said it would..