Macy's suspends Q2 dividend, withdraws outlook

Macy’s, Inc. has announced an update on several actions it has taken to position the company for financial flexibility in response to the continued spread and impact of COVID-19. The company said in a statement that it has access to a revolving credit facility that provides for borrowings and letters of credit in an aggregate amount of 1.5 billion dollars. As a proactive measure, on March 19, 2020, the company decided to access the 1.5 billion dollars available under this facility.