The New York-based department store retailer announced on Monday that it has named Laura Miller as its new chief information officer and made a series of other senior leadership changes as part of its Polaris strategy.
In the role, Adrian Mitchell will be responsible for leading all finance functions including accounting, treasury, investor relations, internal audit, financial/capital planning and analysis, and procurement.
Macy’s Inc reported a staggering $3.58 billion loss on Wednesday for its coronavirus-hit first quarter as store shutdowns resulted in the department store chain recording a $3 billion impairment charge.
The department store operator announced on Tuesday that EVP and chief financial officer Paula Price will be leaving the company as of May 31, 2020, and revealed that it has begun an external search for her replacement.
With North American retailers implementing store closures to combat the spread of Covid-19 since the weekend, Tuesday’s announcements have come from the likes of Macy's, Ralph Lauren, AEO, Foot Locker and Tapestry.
The Cincinnati-based department store operator reported slight declines in same-store sales over the holiday period on Tuesday, and announced the upcoming closure of 28 Macy’s locations and one Bloomingdale’s store.
Macy’s cut its full-year earnings forecast on Wednesday after missing estimates for quarterly profit for the first time in at least two years, as it discounted merchandise heavily to clear spring inventory.