Macy's Navigates Tariff Turbulence Amid Profit Dip
Macy's experienced a decline in sales and profit in its first quarter, citing cautious consumers and the impacts of the US trade war. Despite this, the retailer exceeded most expectations and maintained its annual sales forecast. The company is navigating market unpredictability by enhancing merchandise and services.
Macy's, the prominent New York-based department store chain, reported a slip in sales and profits for the first quarter, attributing the dip to more cautious consumers and the complexities of the ongoing US trade war. While the company reduced its profit forecast for 2025, it met most performance expectations for the year's first quarter.
The retailer, which includes Bloomingdale's and Bluemercury cosmetics under its umbrella, reported a decrease in sales to USD 4.79 billion from USD 5 billion the previous year, ahead of the USD 4.42 billion analysts anticipated. Comparable sales dipped by 2%, although its upscale chains reported growth.
CEO Tony Spring expressed confidence in the company's strategy to return to sustainable growth, despite the volatility of tariff policies. Macy's continues to enhance its customer offerings by improving its store label brand and expanding merchandise variety, navigating current market challenges with precision.
(With inputs from agencies.)
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