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

{ object.primary_image.title }}

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

More

How Trump exploits historic architecture to avoid paying taxes

{ object.primary_image.title }}

Donald Trump paid no federal taxes in 10 of the past 15 years. That’s thanks in part to a tax break he is receiving for renovating a 1899 Romanesque Revival post office in Washington, D.C. The historic Old Post Office Building on Pennsylvania Avenue in Washington, D.C. had undergone multiple renovations, and it had been the subject of many schemes to turn a profit by the time Donald Trump and his company, the Trump Organization, leased the property in 2014. The company’s $200-million renovation of the building into the Trump International Hotel has been revealed as a key strategy in Trump’s long avoidance of federal taxes, according to documents acquired by the New York Times . Read Full Story

More

Dos and don’ts of advertising during COVID-19

{ object.primary_image.title }}

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.

More

Subscribe to our newsletter

Join our newsletter and never miss out trending marketing news.

HitcountVariables(pk=1481, ajax_url='/api/hit/ajax/', hits='4')