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May 22, 2020

With COVID-19 losses mounting, Macy’s reopens CT stores, other locations

Photo | Flickr/Mike Mozart A Macy's department store.
By Matt Pilon

Macy’s Inc., which closed its stores nationwide on March 18 due to COVID-19 and expects to suffer a $1 billion operating loss in its first quarter as a result, reopened eight Connecticut stores on Friday.

The eight locations will have enhanced safety and cleaning protocols, including frequent cleaning of heavily trafficked areas and of hard surfaces, sanitation stations located throughout the stores, and plexiglass at selected checkout registers. The stores will also require all employees and customers to maintain at least six feet of distance from others, the company said.

“We are ready to welcome our customers back to Macy’s stores in Connecticut,” said Marc Mastronardi, chief stores officer at Macy’s. “We’re introducing new precautions to keep your family and ours safe and are now offering curbside pick-up to make getting what you want quick and easy.”

The Connecticut Macy’s locations that opened at 11 a.m. include:

  • Brass Mill Center  
  • Crystal Mall  
  • Connecticut Post  
  • Danbury Fair  
  • Shoppes At Buckland Hills  
  • Stamford Town Center  
  • Trumbull  
  • Westfarms 

They are among the 80 U.S. stores the retailer says it plans to reopen this Memorial Day weekend. It previously reopened approximately 190 Macy’s and Bloomingdale locations, starting May 4.

In all, it’s approximately one-third of the 839 stores Macy’s listed on its website as of the fourth quarter of 2019.

Macy’s this week also estimated that its first quarter financial results would show a sharp drop in sales revenue, from $5.5 billion in the year-ago quarter to about $3 billion in the January to March period this year. 

Meanwhile, it anticipates an operating loss of $905 million to $1.5 billion, down from a profit of $203 million a year ago. Macy’s offered no specific estimate of what impacts it might see during its second quarter, which runs through June, but it said that strong online sales in April only partially offset a decline in in-store sales.

“This is a challenging time for the country, for retail and for Macy’s, Inc. COVID-19 has impacted the lives of many of our colleagues and customers, and health and safety remain our top priority,” said Jeff Gennette, chairman and CEO. “Looking back, our performance in February was solid and in line with our expectations, but we saw a precipitous decline in sales with the stores’ closure in March.”

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