Macy’s cut its annual profit forecast today as the top U.S. department store operator navigates tariff-induced uncertainty and signaled early discounts on its spring collection to better manage its stock.

Department store chains have consistently lost market share to cheaper products from off-price and big-box players, and competition will likely intensify this year with inflation expected to jump following the Trump administration’s tariffs.

Several firms have withdrawn or lowered their revenue and profit targets for the year, and retailers, in particular, are preparing for a significant impact on their supply chain costs, as well as on demand from the sweeping duties.

“(Higher) pricing is working its way into the system slowly… That’s why we have taken a more cautious approach to our

See Full Page