Reported 3 days ago
Macy’s Inc. has lowered its fiscal 2025 earnings forecast due to the effects of tariffs and diminished consumer discretionary spending, adjusting its expected earnings per share from $2.05-$2.25 to $1.60-$2.00. Despite this, the retailer maintains its sales guidance of $21 billion-$21.4 billion. In the first quarter of 2025, Macy's net sales dropped to $4.6 billion, a 5.1% year-over-year decrease, though it exceeded analyst expectations. The company reported adjusted earnings of 16 cents per share and forecasts future sales in the second quarter to be between $4.65 billion and $4.75 billion.
Source: YAHOO