Macy's Cuts Profit Outlook Despite Beating Earnings | JQJO

Macy's exceeded first-quarter earnings expectations, reporting adjusted EPS of $0.16 versus the expected $0.14 and revenue of $4.6 billion versus the expected $4.5 billion. However, the company lowered its full-year profit guidance to $1.60-$2.00 per share due to higher tariffs, increased promotions, and softer discretionary spending. Despite the lowered outlook, Macy's maintained its full-year sales forecast and saw its stock price rise in premarket trading. The company is undergoing a restructuring, closing underperforming stores and investing in its Bloomingdale's and Bluemercury brands.