Macy’s is expecting sales to be down over the rest of the year as it continues to face “deep declines” in footfall in large US cities. Clothing was among several departments that performed weakly in August, and Macy’s said the back-to-school season had been “slow”. However, the company said luxury products, from diamonds to upmarket handbags, were selling better than mass-market items.

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Macy’s points to uneven recovery from lockdown