05/29/2025

Macy's Slashes its Profit Forecast, Says Tariffs Dampen its Outlook

The retailer is the latest to warn of ill effects from tariffs

Macy's slashed its full-year profit forecast on Wednesday, attributing the downbeat expectations in part to tariffs imposed by President Donald Trump.

The New York-based retail chain is the latest major company to warn of ill effects from the levies, including Target, Walmart and Nike.

Macy's downgraded its expectations for adjusted earnings per share from a range of $2.05 to $2.25, instead saying the metric is likely to register between $1.60 to $2.00.

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