Washington Post

Some jobs are coming back, but economy will need years to heal

"The situation is really fluid. And it changes day by day," Jeff Gennette, Macy's chief executive, told investors this week on an earnings call. Foto: Stephan Savoia/AP

Sales were stronger than expected when Macy's reopened its first stores in early May, after a nearly seven-week coronavirus shutdown. But that initial surge soon fizzled, leaving the retailer's brick-and-mortar business down more than one-third.

Some stores reopened in malls where restaurants and movie theaters remained closed, limiting foot traffic. Outlets in major cities suffered from the absence of foreign tourists. And recent coronavirus flare-ups across the South and West convinced executives they faced a grueling recovery that could take until 2022...

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