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Macy's CEO: $10 billion in sales are up for grabs because of retail bankruptcies - CNBC
May 21, 2020 42 secs
Without providing specifics, he said Macy's may add categories in its stores based on what some of these distressed companies' former customers might be searching for.

He said Macy's aggressively went after Bon-Ton's former shoppers and employees, when the department store chain liquidated its 200 locations in 2018. .

Already during the pandemic, department store chains Neiman Marcus, Stage Stores and J.C.

Penney is planning to shut about 30% of its stores, or about 240 locations, as part of its restructuring.

It is expecting to report an operating loss of $905 million to $1.11 billion, compared with net income of $203 million a year ago. The retailer has forecast first-quarter sales to be in the range of $3 billion to $3.03 billion, down from $5.50 billion a year ago. .

Earlier this year, it said it was planning to shut 125 stores over the next three years.

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