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Macy’s sales plunge 20%

Christian Fernsby |
Macy’s comparable sales plummeted more than 20 percent in the last three months.

Macy’s raked in net sales of about $4 billion during the quarter, a significant drop from $5.2 billion a year ago.

The performance was helped by a 27 percent year over year jump in digital sales.

The company posted an adjusted net loss of $60 million.

Macy’s bosses said they’re optimistic about posting strong holiday results after finishing the third quarter with better sales than they expected a few months ago.

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