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.

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.

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.

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.