Macy's Slated To Lose $1.1 Billion In Its First Quarter

Macy's anticipates a loss of up to $1.1 billion in the first quarter, with sales expected to drop by over $2 billion compared to last year. Despite these figures, CEO Jeff Gannett remains optimistic, citing a $10 billion opportunity as other retailers face bankruptcy or closure. Pier One Imports is beginning liquidation, while JCPenney and Neiman Marcus have filed for bankruptcy. Macy's is considering additional store closures to stay afloat, having already planned to close 125 stores over three years.

What is the expected sales figure for Macy's in the first quarter?

• $1 billion

• $10 billion

• $5 billion

• $3 billion

How much loss is Macy's anticipating in its first quarter?

• $500 million

• $1.1 billion

• $2 billion

• $3 billion

What opportunity does Macy's CEO see amidst the financial challenges?

• $12 billion

• $5 billion

• $7 billion

• $10 billion

Which retailer announced it would begin liquidation sales?

• Macy's

• JCPenney

• Neiman Marcus

• Pier One Imports

What action is Macy's considering to stay afloat?

• Expanding its store network

• Increasing product prices

• Closing more stores

• Hiring more staff