The company still anticipates 2025 sales in a range of $21 billion to $21.4 billion. It now expects full-year adjusted earnings between $1.60 and $2 per share. Its prior forecast was for an adjusted profit of $2.05 to $2.25 per share.

Macy’s CEO Tony Spring said that after seeing almost no price increases linked to tariffs in the first quarter, some “limited” price increases are appearing now, leading to the more cautious annual profit outlook.

Key Takeaways Macy's posted better-than-expected first-quarter profit but warned about the effects of tariffs.The biggest U.S. department store chain lowered its full-year outlook for adjusted earnings per share.