Overview

• Macy’s trimmed its full-year adjusted EPS forecast to $1.60–$2.00 from $2.05–$2.25, while holding its $21–$21.4 billion sales guidance steady.
• First-quarter adjusted EPS of $0.16 topped the $0.14 estimate and revenue of $4.6 billion surpassed forecasts despite a 5.1% year-over-year decline.
• CEO Tony Spring noted that about 20% of merchandise is subject to China tariffs, prompting calibrated price increases on select items rather than broad hikes.
• As part of its turnaround, Macy’s will shutter roughly 150 underperforming stores by early 2027 and has enhanced customer experience at 125 locations.
• Luxury units led by Bloomingdale’s (+3.8% comp sales) and Bluemercury (+1.5%) continued to outperform the core namesake brand.