Macy's joins retail giants warning of price hikes as tariffs weigh
1. Macy's to raise prices on select products due to global tariffs. 2. CEO mentions reducing exposure to China and renegotiating supplier orders. 3. Company estimates tariffs will impact annual gross margin by 20-40 basis points. 4. Macy's cuts full-year profit guidance due to tariffs and consumer spending. 5. Competing retailers also facing challenges from tariff-induced pricing pressures.