Overview

• Macy's reported Q1 net income of $62 million, down from $155 million last year.
• Net sales fell 2.7% to $4.85 billion, slightly above Wall Street estimates.
• The 'Bold New Chapter' strategy includes closing 150 stores and investing in 350 better-performing locations.
• Comparable sales for the first 50 improved stores rose 3.4% year-over-year.
• Macy's raised its full-year earnings guidance, reflecting cautious optimism.