Macy's reports $431M loss in second quarter

Macy’s, Inc. reported a $431 million loss for the three-month period ended Aug. 1 despite growth in digital sales and a second-quarter performance CEO and Chairman Jeff Gennette described as “stronger than anticipated.” Sales for the period were $3.6 billion, nearly $2 billion less than the $5.5 billion over the same period last year, but up from $3 billion in the first quarter, when stores were closed due to the Covid-19 pandemic. The retailer reported that digital sales grew 53% year-over-year…