Macys Inc reported a staggering $3.58 billion loss on Wednesday for its coronavirus-hit first quarter as store shutdowns resulted in the department store chain recording a $3 billion impairment charge. The global health crisis has forced brick-and-mortar retailers to tap credit lines, lay off employees, and suspend dividends and buybacks in a bid to stay afloat. “While our stores are reopened, we expect that the COVID-19 pandemic will continue to impact the country for the remainder of the year,” Chief Executive Officer Jeff Gennette said in a statement, adding that the retailer did not expect another total shutdown of stores. Macys, which also owns Bloomingdales, said net sales for the first quarter through May 2 nearly halved to $3.02 billion. The retailers results come as some of its peers, including J Crew, J.C. Penney, and Neiman Marcus Group, have filed for bankruptcy after failing to cope with market uncertainties and mounting debt. Macys, which on June 25 said it would lay..