US EditionMacy's Reports 'Limited' Price Increases Following Tariffs
- On Wednesday, Macy's CEO Tony Spring revealed that the company plans to increase costs on certain items as a result of worldwide tariffs.
- The company is implementing this strategy as part of Spring's turnaround plan and is reducing exposure to China by renegotiating, canceling, or delaying certain orders.
- Macy's is implementing targeted price increases on select product lines where the perceived customer value remains high, aiming to minimize the overall impact on profit margins.
- Tariffs are anticipated to decrease Macy’s yearly gross margin by roughly 0.20% to 0.40%, prompting the company to lower its full-year profit expectations, with adjusted earnings per share now projected to fall between $1.60 and $2.00.
- Despite facing challenges, Macy’s maintained its projected annual sales range between $21 billion and $21.4 billion and delivered earnings and revenue for the quarter ending May 3 that slightly exceeded analysts’ expectations.
26 Articles
26 Articles
Macy’s surprises in first quarter, but cuts profit outlook as tariff costs seep in - The Boston Globe
Macy’s CEO Tony Spring said that after seeing almost no price increases linked to tariffs in the first quarter, some “limited” price increases are appearing now, leading to the more cautious annual profit outlook.
Macy's joins retail giants warning of price hikes as tariffs weigh
Macy's executives warned on Wednesday that the retailer will raise the prices of select products due to global tariffs.CEO Tony Spring, who took over last year to lead the company’s turnaround, said during an earnings call on Wednesday that the company is reducing its exposure to China, renegotiating orders with suppliers and canceling or delaying orders "where the value proposition is just not where it needs to be" in order to minimize the impa…
Macy's reports 'limited' price increases following tariffs
NEW YORK (AP) — Macy’s sales and profit slipped in its first quarter and the department store, citing more cautious customers and the impact that a trade war launched by the U.S., trimmed its profit forecast for 2025. The New York retailer, however, topped most performance expectations for the first three months of the year and maintained its annual sales forecast. $500,000 scratch-off ticket sold at local grocery store Yet Macy’s CEO Tony…
JPMorgan CEO Issues Major “Warning” for the Economy - Boston Real Estate Investors Association
Jamie Dimon, CEO of JPMorgan Chase, America’s largest bank, just issued a major economic warning. In Dimon’s eyes, the economy has falsely recovered from the tariffs imposed on Liberation Day, with investors exhibiting an extraordinary amount of “complacency” in the face of mounting economic risks. If the country’s biggest bank is saying this, why aren’t […] The post JPMorgan CEO Issues Major “Warning” for the Economy appeared first on Boston Re…
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