From CNBC: 2025-05-28 06:58:00

Macy’s cuts full-year profit guidance due to higher tariffs and lower discretionary spending. Fiscal 2025 adjusted earnings per share expected to be $1.60 to $2, down from previous forecast of $2.05 to $2.25. Net income in first quarter was $38 million, or 13 cents per share. Sales dropped to $4.60 billion versus expected $4.50 billion.

Macy’s facing economic uncertainty and tariff challenges. Plans to close about 150 underperforming stores by early 2027 as part of three-year turnaround efforts. In first quarter, namesake brand saw 2.1% decline in comparable sales. Bloomingdale’s and Bluemercury saw positive sales growth. Company investing in store revamps to improve customer experience.

Macy’s may share more details on tariff strategy during earnings call. New CFO to begin June 22. Stock down 29% this year, closing at $12.04 per share on Tuesday. Company market value at $3.35 billion. Stay tuned for updates.



Read more at CNBC:: Macy’s (M) Q1 2025 earnings