Macy’s profit and sales slip and it cuts profit forecast for 2025, but tops Q1 expectations
- Macy's, a New York retailer owning Bloomingdale's and Bluemercury, reported a Q1 sales decline to $4.79 billion ending May 3, 2025.
- The company attributed this drop and a trimmed 2025 profit forecast to cautious customers and uncertainties from the U.S. Trade war and tariffs.
- Despite challenges, Macy's exceeded most Q1 performance expectations, maintained its sales forecast between $21 billion and $21.4 billion, and saw growth from Bloomingdale's and Bluemercury.
- In the first quarter, Macy's reported a profit of $38 million, equivalent to 13 cents per share, slightly surpassing analyst expectations by one cent. CEO Tony Spring noted the company is managing economic challenges through ongoing discussions and order adjustments with its suppliers.
- Macy's faces ongoing unpredictability from changing tariff policies but focuses on improving merchandise, diversifying sourcing, and investing in customers to restore sustainable profitable growth.
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Macy's profit, sales slip and it cuts profit forecast for 2025, but tops Q1 expectations
Macy’s sales and profit slipped in its first quarter and the department store, citing more cautious customers and the impact that the U.S. trade war will have on the company and its shoppers, trimmed its profit forecast for 2025.
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