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.

The company also nodded to challenges from a slowdown in consumer spending and more competitive promotions and discounts across the retail industry.

“(Higher) pricing is working its way into the system slowly,” Spring said during a post-earnings call.

“That’s why we have taken a more cautious approach to our outlook for the year.”

He told CNBC the retailer will be “surgical” about its pricin

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