Macy’s Q1 tops Street; cuts earnings and will raise some prices due to tariffs

Macy’s Inc. reported better-than-expected first-quarter earnings and sales but cut its full-year profit outlook amid tariff costs.

The department store giant said that it reduced its full-year earnings forecast based on several factors, including initial and current tariffs, some moderation in consumer discretionary spending, and a heightened competitive promotional landscape. It maintained its full-year sales outlook.

Macy’s CEO Tony Spring told CNBC that about 15 cents to 40 cents per share of the earnings guidance cut is due to tariffs. He also said the retailer will raise some prices and stop carrying certain items to mitigate the tariff increases.

Macy’s Q1 tops Street; cuts earnings and will raise some prices due to tariffs | Chain Store Age

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