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R.H. Macy & Co., which is closing stores in an effort to keep operating, told a bankruptcy court Wednesday that its losses continue to mount. The retailer reported a net loss of $57.4 million in March on sales of $487 million, worse than February`s $49 million loss. Macy`s did not report comparable figures from a year earlier because prior to filing for bankruptcy protection in January, it did not disclose monthly profit and loss statements. Macy`s operating loss for March was $25.3 million, worse than February`s $23.4 million. The figures exclude costs for reorganization and interest. However, Macy`s retail sales rose $100 million, or 26 percent, in March from February.
