Online sales were up 53%, and the company said it attracted 4 million new online customers. But sales sunk 61% inside its stores, which reopened in June after being temporarily closed due to the pandemic.
With people spending more time at home, shoppers bought fewer dresses, luggage and men's suits. But they spent more on comfy athletic wear, as well as decor to spruce up their homes.
Many of its department stores are at malls, which have struggled to attract shoppers even before COVID-19. Some of its mall-based rivals have gone bankrupt, including
Over the next two years,
For the holiday season, it will spread out discounts over a longer period to avoid overcrowding at its stores and continue to push shoppers to buy online and pick up at the curb.
The virus is also forcing
Overall, the company reported a second-quarter loss of
Adjusted losses came to
Revenue fell 36% to
Shares of
This story's headline has been corrected to show that the loss was
Copyright 2020 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed without permission., source