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Macy’s Delays Earnings on Virus Disruption, Sees Goodwill Charge
- Company’s final quarterly results may not come until July 27
- Retailer says share decline caused an impairment event
A pedestrian wearing a protective mask walks near a Macy's Inc. store in Washington, D.C., on March 31.
Photographer: Andrew Harrer/BloombergThis article is for subscribers only.
Macy’s Inc. said it will delay its quarterly earnings report due to “significant disruptions” in its operations from the coronavirus outbreak.
The retailer expects to take a charge for the period after a sharp decline in the shares triggered goodwill impairment, Macy’s said in a regulatory filing Thursday. It didn’t specify the size of the charge.