Macy's slashes profit forecast, warns of ‘surgical' price hikes due to tariffs

Macy’s on Wednesday slashed its annual profit forecast and warned of incoming price hikes to offset President Trump’s hefty tariffs.The legacy department store chain now expects adjusted earnings per share of $1.60 to$2 in 2025 — down from its previous forecast of $2.05 to$2.25. Macy’s CEO Tony Spring told CNBC about 15 cents to 40 cents per share of that forecast drop is due to the tariffs. 5 Macy’s slashed its annual profit forecast and warned of incoming price hikes to offset President Trump’s hefty ...