Macy’s will reopen another 80 stores for Memorial Day weekend, while warning of $1.1 billion loss

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Macy’s says sales could be down by as much as 45% due to temporary store closures, and the overall coronavirus-induced downturn to the economy. Macy’s has released the preliminary financial results for its fiscal Q1, and its forecast shows just how badly the iconic department store chain has been hit by the coronavirus crisis, reports CNBC. The company said it expects a first-quarter operating loss of between $905 million and $1.1 billion. That’s compared to $203 million in net income for the same quarter a year ago. Read Full Story

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Exclusive: Change.org to dedicate $6 million toward racial justice efforts

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After withering criticism for soliciting donations on its petition for justice for George Floyd, the company is announcing new policies on what it does with its donations. The Change.org petitions calling for justice for George Floyd and Breonna Taylor are two of the biggest in the company’s history, “magnitudes” larger than anything the site has seen before, says acting CEO Nick Allardice, and not just in terms of signatures. After adding their names and seeing a prompt to “chip in,” many signees also contributed money—though what exactly they were “chipping in” for was left somewhat vague. The company’s revenue model (despite having “.org” in its name, the company is for-profit) involves taking donations when people sign, but the windfall these petitions generated is an order of magnitude larger than usual: In the end, the company netted $10 million in donations from the two petitions, and while it dedicated some of …

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Dos and don’ts of advertising during COVID-19

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Half of Australians (51 per cent) say it's okay for brands to continue advertising during the COVID-19 pandemic, according to research conducted by Dynata. And when asked which messages resonate most, almost half (47 per cent) said ads communicating how a brand is contributing to the needs of the crisis were among the most appealing.

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Adjusting Paid Campaigns During a Recession

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Posted by ryanmoothart Our world changed dramatically in March of 2020 as a new viral threat to our livelihoods took hold in the United States and around the world. Here in the US (at the time of writing this post), COVID-19 has not relented Some industries have been more heavily affected than others. For example, travel and tourism businesses have been hurting far more than many other industries due to social distancing guidelines and stay-at-home orders. However, all businesses should re-evaluate their planned budgets for paid search and other paid digital campaigns for the next 12 to 24 months. Hopefully, this pandemic cedes faster than that and the economy comes out of our pending depression more rapidly at some point next year. But since nobody can know for sure when that will happen, it’s better to be safe and plan accordingly. Ask yourself the following questions: What assumptions did you …

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Best Ecommerce Platforms

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Disclosure: This content is reader-supported, which means if you click on some of our links that we may earn a commission. What would you do with an extra $1,500 a day? With a bit of work and the right platform behind you, you can create an online store that generates that kind of revenue (and more). Shilpi Yadav is an excellent example. She quit her job to start an online clothing store based around her Indian heritage. Despite all the risks, the brand now makes more than half a million dollars a year (averaging around $1,500 per day ). She built her online store using Shopify, one of the best ecommerce platforms on the market. However, there are a ton of different options to choose from depending on what you need. And the most significant thing standing in the way of your own $500k success story is deciding which ecommerce …

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