New York – Macy’s sales and profits fell into her first quarter and department stores, citing more cautious customers and the Impact that the United States trade war It will have in the company and its buyers, cut its prognosis of profits by 2025.
However, the New York retailer who also has Upscale Bloomingdale and the Bluemercury cosmetics chain, exceeded most performance expectations during the first three months of the year and maintained its sales prognosis for the year.
The shares increased more than 4% before the market opened on Wednesday.
Macy sales fell to $ 4.79 billion of $ 5 billion a year earlier, better than the $ 4.42 billion that analysts are considered for expected factSet.
Comparable sales, which include online channels, submerged 2%. Bloomingdale and Bluemercury saw a comparable sales growth.
Neil Saunders, managing director of Globaldata, said the comparable sales of 3% of Bloomingdale.
“A good execution of Bloomingdale and its balanced variety of luxury products and prestige has served it well,” he said. “This is especially compared to chains that play much more exclusively in the sand of a very high price, which have lost customers and have seen an erosion of spending.”
“Our results of the first quarter give us confidence that we have the right strategy and team to navigate the current environment while we continue to invest in our client on the way to return Macy’s, Inc. to the sustainable profitable growth,” said President and CEO Tony Spring in a statement on Wednesday.
For the period ended on May 3, Macy’s won $ 38 million, or 13 cents per share. That is compared to $ 62 million, or 22 cents per share, a year ago.
Distinguishing certain articles, the profits were 16 cents per action, which exceeded the estime estimate for a penny.
The company still anticipates sales of 2025 in a range of $ 21 billion to $ 21.4 billion. Now he expects adjusted profits of the whole year between $ 1.60 and $ 2 per share. Its previous forecast was for an adjusted gain of $ 2.05 to $ 2.25 per share.
Industry analysts had been projecting sales of the entire year of $ 21.03 billion and a gain adjusted per share of $ 1.91.
Macy’s and other retailers are struggling with uncertainty about tariffs that hinder planning, while confirming with customers who seem to have the same problems and are withdrawing the expense.
Adolescent Retail Eagle Outfitters Will withdraw your financial perspective For the previous year of this month, cite “macro uncertainty” and said he would write $ 75 million in spring and summer goods.
Ross stores did the same last week.
Walmart, the largest retailer in the country, I received a public rule from President Donald Trump After saying this month that has already raised prices in some articles And I would have to do it again just when the shopping season begins back to school. Trump told the retail giant that he should “eat” the additional costs created by his tariffs.
Target Corp. announced last week that Sales fell more than expected in the first quarter, And the retailer warned that they will slide for all 2025 as their clients, concerned about the impact of tariffs and economy, will withdraw the expense. The company said it should be able to compensate for most tariff impacts.
The threatened import taxes of 145% of Trump in Chinese products were reduced by 30% in an announced agreement May 12With some of the highest rates in pause for 90 days. Trump threatened Friday a 50% tax over all European Union imports as well as a 25% rate on smartphones unless these products They are made in America.
But then, Sunday, Trump said that the United States will delay the implementation of a 50% rate of the EU from the EU from June 1 to July 9 to buy time for negotiations with the block.
Macy executives emphasized in March during the last earning calls that the company faces a lot of unpredictability given the policies constantly changing. But the company is focusing on what it can control and concentrate on improving its merchandise and services.
The company’s executives told analysts about the call call in March that Macy’s has been working with their suppliers to increase the variety and reduce redundant styles, while adding more exclusive offers. He also focuses on improving the brand’s label brand.
