On Wednesday Macy's lowered its annual earnings forecast for the current fiscal year due to the impact of new tariffs, slowing consumer spending and increased promotions.

The department store chain now expects 2025/2026 EPS of between $1.60 and $2, down from its previous forecast range of $2.05 to $2.25.

Its annual revenue target remains unchanged at $21bn-21.4bn, representing a 0.5% to 2% expected decline in sales (on a comparable basis) compared to the previous fiscal year.

For Q1, which ended in early May, the New York-based group's revenue declined by 1.2% on a comparable basis to $4.6bn, a performance that nevertheless exceeded its estimates and the consensus of $4.4bn.

The same was true for adjusted EPS of $0.16, which exceeded the consensus of $0.12.

Following these better-than-expected quarterly results, CEO Tony Spring expressed confidence in the company's strategy to navigate the current challenging environment and in its ability to return to profitable growth.

Macy's shares rose 3.7% in pre-market trading on Wall Street on Wednesday morning.


Copyright (c) 2025 CercleFinance.com. All rights reserved.