Macy’s Expects Sales to Fall this Year due to Tariffs, Gas Prices, Inflation

On Wednesday, Macy's beat Wall Street's quarterly sales and profit expectations as its namesake brand showed signs of progress, yet still gave a cautious outlook for the year ahead.

For the fiscal year, the company – which is made up of the Macy's chain, higher-end department store Bloomingdale's and beauty retailer Bluemercury – said it expects sales of between $21.4 billion and $21.65 billion and adjusted earnings per share of $1.90 to $2.10.

Both of those would represent a drop from this past fiscal year, when revenue totaled $21.8 billion and adjusted earnings per share were $2.15. Macy's sales outlook roughly matched or exceeded analysts&rs expectations of $21.42 billion, but its adjusted earnings guidance came in shy of Wall Street's expectations of $2.17 per share for the year, according to LSEG.

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