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Macy's latest earnings show the CEO's turnaround plan is working despite a looming tariff threat

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Wall Street thinks it could have been much worse for the beleaguered department store chain.
Macy's CEO Tony Spring reported a successful first quarter, with the company's turnaround plan showing positive results despite looming tariff threats. The retailer's net sales increased by 3.5% to $4.8 billion, surpassing Wall Street expectations, while comparable sales rose by 2.7%. Spring attributed the growth to improved inventory management and a focus on private brands, which now account for 20% of sales. Despite these gains, the company remains cautious about potential new tariffs on Chinese imports, which could impact future profitability. Macy's is actively working on diversifying its supply chain to mitigate these risks, with plans to increase sourcing from countries like Vietnam and India.

Read the Full Fortune Article at:
[ https://fortune.com/2025/05/28/macys-earnings-ceo-turnaround-plan-working-despite-tariff-threat/ ]