Macy's slashes profit forecast, warns of ‘surgical' price hikes due to tariffs
1. Macy's cut its 2025 earnings forecast, now $1.60 to $2 per share. 2. Price hikes are planned to counteract tariffs impacting profits significantly. 3. Sales forecast declined; expected between $21 billion and $21.4 billion. 4. Comparable sales fell only 0.8% in remodeled stores, outperforming overall declines. 5. Shares rose 3.4% despite the overall decline of 27% this year.