Overview

• Macy’s reported adjusted first-quarter earnings of $0.16 per share and revenue of $4.6 billion, topping analyst expectations.
• The company trimmed its full-year EPS forecast to $1.60–$2.00 from $2.05–$2.25 while affirming sales guidance of $21.0–$21.4 billion.
• CEO Tony Spring said Macy’s will implement selective price increases to offset a 30% tariff on roughly 20% of its China-sourced merchandise.
• Comparable sales at its namesake stores declined 2.1%, counterbalanced by 3.8% growth at Bloomingdale’s and 1.5% growth at Bluemercury.
• As part of its Bold New Chapter strategy, Macy’s plans to close about 150 underperforming stores by early 2027 and has invested in 125 go-forward locations to enhance customer experience.