Macy's warns of up to $1 billion quarterly loss due to lockdowns

(Reuters) - Macy's Inc said on Thursday it could rack up operating losses of up to $1.11 billion (£907.98 million) in the first quarter, as the retailer was forced to shut stores due to COVID-19 lockdowns.The health crisis has forced brick-and-mortar retailers to tap credit lines, lay off employees and suspend dividends and buybacks in a desperate bid to stay afloat amid store closures.Just this month several retailers, including J Crew and J.C.Penney filed for bankruptcy, failing to cope..