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MACY’S CUTS PROFIT OUTLOOK AS TARIFFS, PROMOTIONS HIT ITS BUSINESS.

Macy’s cut its full-year profit guidance on Wednesday even as it beat Wall Street’s quarterly earnings expectations.

In a news release, the department store operator said it reduced its earnings outlook because of higher tariffs, more promotions and “some moderation” in discretionary spending. Macy’s stuck by its full-year sales forecast, however. 

For fiscal 2025, Macy’s now expects adjusted earnings per share of $1.60 to $2, down from its previous forecast of $2.05 to $2.25. It reaffirmed its full-year sales guidance of between $21 billion and $21.4 billion, which would be a decline from $22.29 billion in the most recent full year. 

Here’s how Macy’s did during its fiscal first quarter, compared with what Wall Street was anticipating, based on a survey of analysts by LSEG:

🟡Earnings per share: 16 cents adjusted vs. 14 cents expected

🟡Revenue: $4.60 billion vs. $4.50 billion expected