COVID-19 Impact on Macy’s
The Coronavirus (COVID-19) company impact report analyses how the pandemic will impact Macy’s performance.
Due to the impacts of COVID-19, the group’s revenue is forecast to plummet in 2020 as its high exposure to clothing & footwear will dampen its sales, with consumers deprioritising non-essential spend.
Macy’s has clearly communicated the positive actions it is taking to help its staff via email and social media, which will enable it to prove its ethical standards and boost its brand perception in the long term.
- Although Macy’s stores have started to reopen in some states as lockdowns are eased, many shoppers will remain cautious about returning to shopping locations for sometime, dampening footfall.
- The group’s almost sole dependency on North America will prove to be troublesome as the US has been one of the epicentres of COVID-19, and will suffer severe economic impacts as millions of Americans have lost their jobs.
Reasons To Buy
- Use our revised 2020 forecast for Macy’s to understand how it will perform this year.
- Use our charts to review how Macy’s sales are split by region globally and how these regions have been impacted by COVID-19.
- Use our in-depth analysis to review how Macy’s has responded to COVID-19 and how this will affect its performance.