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May 29, 2025

Macy’s surprises in first quarter, but cuts profit outlook as tariff costs seep in

  • 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.
    • By ANNE D’INNOCENZIO and MICHELLE CHAPMAN
    AP Business Writers

    NEW YORK — 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.


     
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