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.