Macy's losses during the coronavirus pandemic might mount to $1.1 billion in its first quarter. The company's warning Thursday is the latest highlight of a widening gap in retail between big sales of "essential" stores that remained open during the health crisis versus clothing and other "nonessential stores" that had to close.

The preliminary earnings report from Macy's echoed the pain felt at many other department stores and retail chains revealed in the first wave of financial disclosures since the pandemic began.

Macy's is planning to close about 125 underperforming stores over the next three years, about a fifth of the company's retail locations.

The department store did not specify which locations it would close, other than saying the stores are in "lower-tier" malls and include 30 stores in 19 states that are already in the process of closing.

Last year was one of the worst for the retail industry, with record setting bankruptcies and store closings — 8,000 across multiple national chains. And so far, things are not looking up in 2018.

On Thursday, Sears Holdings Corp., the parent company of Sears and Kmart, announced it is closing 64 Kmart stores and 39 Sears locations, as it grapples with weaker in-store sales.

Cincinnati-based  Macy's says it is eliminating more than 10 thousand jobs and plans to proceed with 68 store closures after a disappointing holiday shopping season.

Cincinnati-based Macy's says it plans to close 100 stores next year to become more competitive.

Cincinnati-based Macy's says it will close 40 stores and cut thousands of jobs in an attempt to save 400-million-dollars due to poor holiday sales.

Two Dayton-area advocacy organizations have filed a federal lawsuit claiming the location of the Dayton Mall's public bus stop discriminates against people with disabilities.

Cincinnati-based Macy's says it will close 35 to 40 stores early next year.

A clearance sale is scheduled to begin next week at the Macy's store in the Kingsdale Shopping Center.

Macy's Cutting Jobs

Jan 9, 2014

Cincinnati-based Macy's is cutting 25 hundred jobs as part of a reorganization to sustain its profitability.

Macy's Hiring Seasonal Workers

Oct 1, 2013

Cincinnati-based Macy's says it plans to hire 83-hundred workers for the holiday season, a slight increase from last year.

Feds Fine Macy's For Discrimination

Jun 28, 2013

The Justice Department says it has resolved allegations against Cincinnati-based Macy's that the retailer imposed discriminatory document requirements on immigrant employees to verify that they were eligible to work.

Macy's CEO Takes Pay Cut

Apr 5, 2013

An Associated Press analysis shows Cincinnati-based Macy's gave chief executive Terry Lundgren a pay package worth 11.3 million dollars last year, down 22 percent from 2011 as he failed to meet all of its financial performance goals.

Major Retailers Report January Sales Figures

Feb 7, 2013

Columbus-based Limited Brands and Cincinnati-based Macy's are among the major retailers reporting strong January sales figures, as shoppers took advantage of clearance sales.

Major retailers are reporting weak sales in November as a strong Thanksgiving weekend failed to to fully offset the slow start to the month caused by Superstorm Sandy.

Many of the nation's major retailers are reporting sales gains for the month of September.