Macy's reported Q1 net loss of 3.58 billion dollars

Macy’s, Inc. for the first quarter of 2020 reported net sales of 3.017 billion dollars compared to 5.504 billion dollars for the same quarter last year. The company said in a statement that net loss for the quarter was 3.58 billion dollars compared to net income of 136 million dollars last year, while diluted loss per share was 11.53 dollars and adjusted diluted loss per share of 2.03 dollars compared to 44 cents earnings per diluted and adjusted diluted share in the previous year.