Overview

• Macy's now expects 2025 adjusted earnings of $1.60 to $2.00 per share, down from its previous $2.05 to $2.25 guidance
• First-quarter net sales rose to $4.6 billion, beating the $4.5 billion estimate, and the annual net sales forecast remains $21.0 to $21.4 billion
• Higher import costs from recent tariffs and weaker apparel demand drove the reduction in profit guidance
• The company is intensifying its focus on Bluemercury and Bloomingdale's while enhancing its online assortment and refreshing its loyalty program
• Macy's has endured 12 consecutive quarters of declining sales and its shares are down about 28% this year as margin pressures persist