Starbucks expects to swing to a loss in its fiscal third quarter as the company predicts it lost as much as $3.2 billion in revenue due to the pandemic.

While U.S. authorities put pressure on Chinese assets, investors remain intent on chasing opportunities in the world’s second-largest economy.

During a virtual fireside chat with Cowen & Co. analyst Oliver Chen, Macy’s Chief Financial Officer Felicia Williams said the company does not expect sales trends to normalize until 2021 or possibly 2022.

The U.S. jewelry maker said Tuesday in an earnings release that its same-store sales were down about 44% in the fiscal first quarter, but said demand has picked up again in China.

Stitch Fix on Monday reported a quarterly sales decline of 9%, and a wider-than-expected net loss.

Slack reported that it grew revenue 50% during the quarter, compared with 49% last quarter, on an annualized basis.