Yes, the future of Macy's is VERY uncertain at this point in time. In contrast, the future of the world as we know it is just as uncertain. Who would've guessed two weeks ago that we'd be where we are right now? The entire country shut down. The email sent by JG is a little concerning, but the fact of the matter is nearly every retailer (besides grocery stores, box stores, etc.) that has closed are going through the same things. Suspending dividend, halt buyback, and tapping credit were measures taken by Nordstrom a few days ago. Sound familiar? Nordstrom has already furloughed a hand full of employees as well. Whatever happens, who knows if it will be temporary, or for the long haul. Is it likely that we won't reopen until Q2? Maybe. Let's take this day by day, week and see where this epidemic takes us. Now is not the time to panic!
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While we may not be back fully for awhile I am thinking some locations will reopen in the next 2-3 weeks. Having even a dozen locations open and generating any revenue will be better than nothing.
No panic, but one must be realistic. Macy's was sick before the virus came around and most times a sick thing won't last a severe illness. Neighborhood stores are closing in three years? That is not a good sign. Macy's was trying all kinds of options prior to the downturn and it was not improving so this will massively hurt the company. Yes other retailers are in similar situations. people this situation will alter our lives in a way we cannot imagine. It will take years to climb out (as it did from the crash of 2008-9). To stay alive retailers will cut all things that drain cash flow, this includes positions. Advice from someone who has many years of experience - take the time you are our of work to polish up your resume - I mean really polish it for your future. Read trends and analyze businesses where you want to work. Make sound judgments by educating yourself. Have a survival mindset - you WILL make it through this and come out the other side better than where you once were. It may not be with Macy's - it may have to be in another career field.
@ufg+14aPOZ3s Many of us already have. Nothing is set in stone.
We will be filing for unemployment soon. We have bills to pay.