India, May 28 -- Omni-channel fashion retailer Macy's, Inc. (M) reported Wednesday a net profit for the first quarter that declined from last year, hurt by higher expenses and a net sales decline. However, both adjusted earnings per share and quarterly net sales topped analysts' estimates. The company also slashed its adjusted earnings guidance for the full-year 2025, to reflect impact of initial and current tariffs.
In Wednesday's trading session on the NYSE, Macy's shares are up $0.52 or 4.30 percent to trade at $12.56.
"We continued to execute against our Bold New Chapter strategy during the quarter, scaling key initiatives that improved our customer experience and contributed to stronger than expected performance across all three of o...