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Macy’s surprises in first quarter, but cuts profit outlook as tariff costs seep in

However, the New York retailer topped most performance expectations for the first three months of the year

FILE – Cars are parked in front of a Macy’s store at Hawthorn Mall in Vernon Hills, Ill., June 3, 2024.(AP Photo/Nam Y. Huh, file)
FILE – Cars are parked in front of a Macy’s store at Hawthorn Mall in Vernon Hills, Ill., June 3, 2024.(AP Photo/Nam Y. Huh, file)
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However, the New York retailer topped most performance expectations for the first three months of the year.

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