Macy’s will reopen its Connecticut stores on Friday with the retailer bracing for losses as high as $1 billion as a result of the coronavirus pandemic.

In a Thursday morning presentation to investment analysts, Macy’s CEO Jeff Gennette indicated the company is readying to accelerate efforts to “right-size” Macy’s organization and expense base, without specifying immediately any impact on jobs.

Macy’s has nine Connecticut stores including at the Connecticut Post, Danbury Fair, Stamford Town Center and Westfield Trumbull malls. The parent company owns Bloomingdale’s also, which opened last year at the SoNo Collection mall in South Norwalk; and Bluemercury which has beauty stores in Greenwich, Darien, New Canaan and Westport.

Macy’s stores did not open Wednesday as authorized under the first phase of Gov. Ned Lamont’s plan to reopen malls and other retailers classified as “non-essential” in his March shut-down order to limit transmission of the coronavirus. Other major department stores remained shuttered, as well as a majority of in-line stores on mall concourses.

Macy’s stated local store openings will be governed by local ordinances in addition to state allowances, with Florida, Pennsylvania, Virginia, Missouri, Minnesota and Hawaii stores also slated to open Friday.

Alex.Soule@scni.com; 203-842-2545; @casoulman