Overview

• Macy’s lowered its full-year adjusted EPS outlook to $1.60–$2.00 from $2.05–$2.25, attributing the cut to higher import duties, increased promotions and softer discretionary spending.
• The retailer upheld its sales guidance of $21.0–$21.4 billion after posting Q1 net revenue of $4.6 billion, surpassing analyst estimates.
• CEO Tony Spring said roughly 20% of merchandise comes from China and that the company will offset tariff-driven cost increases through vendor negotiations and selective item markups.
• As part of its three-year turnaround, Macy’s will close about 150 underperforming namesake stores by early 2027 and has refreshed 125 locations with enhanced staffing and displays.
• Other major retailers including Best Buy and Target have also pared profit or sales forecasts as they confront rising tariff costs and cautious consumer spending.