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Retail Giants Cut Earnings Forecast Amid Trade Turmoil

5/29/2025

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Summary

Story summary

Macy's revised its profit forecast, anticipating adjusted earnings per share of $1.60 to $2.00 due to tariffs and reduced consumer spending.
Best Buy lowered its annual outlook following a profit decline, citing tariffs and stagnant sales as key factors.
Both retailers are grappling with challenges from changing trade policies and rising costs of imported goods.

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Story summary

Macy's revised its profit forecast, anticipating adjusted earnings per share of $1.60 to $2.00 due to tariffs and reduced consumer spending.
Best Buy lowered its annual outlook following a profit decline, citing tariffs and stagnant sales as key factors.
Both retailers are grappling with challenges from changing trade policies and rising costs of imported goods.