(Reuters) – Macy’s announced on Wednesday that it has revised its target of annual profit in the face of uncertainty linked to customs duties and prudent expenses of consumers in terms of clothing and accessories.
The first operator of American department stores provides for a profit adjusted by share in 2025 between $ 1.60 and $ 2.00 (1.4-1.7 euros), against a previous target between 2.05 and 2.25 dollars.
Analysts anticipated an adjusted annual profit of $ 1.93 per share, according to data compiled by LSEG.
Several companies have withdrawn or lowered their turnover and profit objectives for the year, and retailers, in particular, are preparing for a significant impact on the costs of their supply chain, as well as on demand, due to the radical customs duties of President Donald Trump.
Macy’s also expects increased competition from discount stores and large areas, consumers seeking cheaper non -essential products, while inflation expectations have increased following the entry into force of customs duties.
Net sales for the closed quarter on May 3 amounted to $ 4.6 billion, exceeding expectations at $ 4.5 billion, while the gross margin rate remained stable at 39.2%, after dropping in the last two quarters.
The Macy’s action took approximately 2.57% when opening Wall Street.
(Written by Juveria Tabassum in Bangalore, Noémie Naudin, edited by Kate Entringer)
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