I see some of you believe Macy's would use these coronavirus-caused closings to shut some of its stores for good. Do you have any idea how much bad press that would rain down on us? It's not that I think our higher-ups are incapable of something like that, I just don't think they are that stupid.
Maybe.
There are laws that require specific time notifications to employees etc on closing stores.
That said, there are factors involved in this epidemic which as you all know are causing massive economic turmoil the likes some have never seen in their lifetime. There is no way companies will be able to recover quickly from this downturn. It was bad enough when Macy';s stock went from approx.$70/share to the now $4 and $5 range. Macy's is not the only one in this boat. Only time will tell how this company reacts to the massive economic downturn.
Stupidity has nothing to do with these decisions. But again look at how the company is run prior to this downturn. That should tell you something.