Macy’s Inc. (NYSE: M), a nation’s premier omnichannel fashion retailer saw an increase in its share price by 11% after reporting the results for the second quarter of 2020. Macy’s disclosed Wednesday that it lost 81 cents a share on revenue that dropped nearly 36% year over year to $3.56 billion from $5.55 billion in the year-ago period.

Macy’s Inc has experienced a net loss of $431 million as compared to the gain of $86 million years ago. Its comparable sales dropped 34.7% but saw a 53% increase in its digital sales.  It has gained a gross margin of 23.6% which showed the improvement of approx. 650 basis points from 2020 Q1.

Shares of Macy’s Inc. went up 0.57% as it has gained +0.04 on Wednesday. It has opened at $7.45 and has a closing price of $7.05. Macy’s Inc has a day low range of $6.78 and a day high range of $7.79. It had reported a trading volume of 85.25 million as compared to the average volume of 35.74 million.

In the past 52-weeks of trading, Macy’s Inc share has experienced the change of $4.38 from its 52-weeks low range and $18.57 from its 52-weeks high range. It had traded up 60.96% from its 52-weeks low and traded down -62.04% from its 52-weeks High. Macy’s Inc total market capitalization has remained high, hitting $2.08 billion at the time of writing.

Looking at its profitability, it has a return on assets of -15.20%, returns on investment of 6.80%, and return on equity of 58.80%. Its Gross Margin is 37.40%, Profit Margin is -13.80%, and an Operating Margin is -15.10%. Focusing on its liquidity, it has a current ratio of 1.20. Macy’s Inc quick ratio is 0.40.

Now looking at its 2020 Q2 results, it has reported the 29% drop in its inventory. It bears a diluted loss per share of $1.39 and Adjusted diluted loss per share of $0.81. Macy’s Inc has disclosed that despite the loss it has experienced stronger performance inn 2020 Q2 than expected.

As the company is moving towards the crisis it chooses the option of digital business and becomes successful in attracting the customers. Macy’s Inc has disclosed that it is planning to invest in fashion, digital and omnichannel and expected to utilize the resources of the company in a better way to serve the customers in the best way.