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Macy’s Inc. reported a decline in first-quarter sales and profit on Wednesday, but still managed to surpass Wall Street expectations. The department store chain, however, revised its full-year profit forecast downward, citing more cautious consumer behaviour and the rising cost impact from US trade tariffs.Sales for the three months ended May 3 dropped to $4.79 billion from $5 billion a year ago, beating analysts’ expectations of $4.42 billion, according to FactSet. Comparable sales, which include online and store performance, fell 2%. Macy’s noted comparable sales growth at its higher-end Bloomingdale’s and cosmetics chain Bluemercury, AP reported.Despite the overall decline, Macy’s CEO Tony Spring said the company is carefully managing its pricing strategy amid the evolving tariff landscape. “I think it’s important to understand that we are not just broadly increasing price,” Spring said during a conference call. “We’re being incredibly surgical about the situation with tariffs.”Spring added that Macy’s is diversifying its supply chain and adjusting orders where necessary. “With the recent announcement of these tariffs, we’ve renegotiated orders with suppliers. We’ve canceled or delayed orders where the value proposition is just not where it needs to be,” he said.The retailer disclosed that about 20% of its products came from China at the end of its last fiscal year, with private label brands sourcing 27% from China, down from 32% the year before.Macy’s earned $38 million, or 13 cents per share, in the quarter, compared with $62 million, or 22 cents per share, a year earlier. Excluding one-time items, adjusted earnings came in at 16 cents per share — a penny above analyst estimates.Macy’s maintained its 2025 annual sales guidance between $21 billion and $21.4 billion but lowered its adjusted earnings projection to a range of $1.60 to $2 per share, down from its earlier forecast of $2.05 to $2.25. Analysts had anticipated $1.91 per share in adjusted profit.Shares rose 1% Wednesday following the earnings release.Industry expert Neil Saunders of GlobalData noted Macy’s quarter was relatively solid, especially as the company continues to shutter underperforming stores. “The 2.0% dip in comparable sales is below market growth but is not entirely unexpected,” Saunders wrote. “It is also, barring the robust holiday quarter, a somewhat better performance than Macy’s delivered across most of the last fiscal year.”The company previously announced plans to close 66 stores, most of which occurred during the first quarter.Macy’s joins a growing list of major US retailers navigating rising tariff-related costs and a cautious consumer base. American Eagle Outfitters and Ross Stores recently withdrew their financial outlooks, citing economic uncertainty. Target and Home Depot have also warned of pricing pressures due to tariffs.President Donald Trump’s tariff policies have sparked industry-wide concern. While a recent agreement scaled back some import taxes on Chinese goods to 30% and delayed others, the administration continues to float threats of new levies, including a potential 50% tax on EU imports and a 25% tariff on smartphones unless domestically produced.Despite the pressures, Spring said Macy’s remains committed to balancing competitive pricing and margin stability. “We’re making selective price increase in selective brands, selective categories, because we believe the value equation for the customer is still very relevant,” he said. “So some of the impact on our gross margin this year is going to be around the tariffs, but we’re also investing in getting market share because we really do believe as we get into the back half of the year, that price value dimension is going to be very critical.”
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Modi’s Asia Double Play: Japan Now, China Next — What India Wants (and Risks)
ndia has kicked off a tightly choreographed Asia tour at a delicate moment. Prime Minister Narendra Modi is in Tokyo first, meeting Japan’s Prime Minister Shigeru Ishiba, before flying to Tianjin for the SCO summit hosted by China. The sequencing matters: Japan is a steadfast strategic and economic partner; China is a rival with whom India still needs a functional modus vivendi. The backdrop? Up to 50% US tariffs on Indian exports, which raise the premium on diversified trade and investment ties. ReutersAP NewsThe Times of IndiaThe Guardian Why Japan first Tokyo and New Delhi are doubling down on a “special strategic and global partnership” built over two decades. Expect deliverables in economic security (critical minerals, supply chains), high-tech collaboration, and infrastructure. Reports suggest the leaders are setting a decade-long joint vision and pushing private-sector investment goals alongside people-to-people exchanges […]
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[ad_1] China’s export growth lost momentum in May, rising 4.8% year-on-year, a sharp slowdown from the 8.1% surge recorded in April, as per the customs data released on Monday.The deceleration came amid a sharp drop in shipments to the United States, down 35% year-on-year, as tensions between the two economic giants continued to cloud trade prospects.The figures were released just hours ahead of another round of US-China trade negotiations scheduled for later in the day, in London. These talks come after a phone call between US President Donald Trump and Chinese President Xi Jinping last week. Zichun Huang of Capital Economics anticipated exports growth to revive in June, thanks to a 90-day suspension on most of the tariffs the two countries have imposed on each other.China’s imports also fell in May, down 3.4% year-on-year, leaving the country with a trade […]
Tata Motors future plans: Rs 33,000-35,000 crore investment to boost passenger vehicles; hoping to lead in EV segment
[ad_1] Automaking giant Tata Motors is planning massive investment plans for the future, earmarking Rs 33,000 crore to Rs 35,000 crore for FY 26-30 on product actions. The Mumbai-headquartered company is targeting 30 product actions, including the launch of seven new models, as it looks to sharpen its competitive edge in India’s fast-evolving passenger vehicle (PV) market.As part of its long-term strategy, the automaker aims to secure a 16% market share, including electric vehicles (EVs), by FY27, rising to 18–20% over the next few years. Tata Motors expects the domestic PV industry to hit annual sales of 60 lakh units by 2030 and is positioning itself to ride that wave with a refreshed and expansive portfolio.“Looking ahead, we will strengthen our portfolio by FY30...7 new nameplates and 23 product refreshes will holistically enhance the portfolio,” the company told analysts in […]
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India’s global trade playbook has shifted abruptly in 2025. The US recently imposed tariffs as high as 50% on Indian exports, citing New Delhi’s continued oil imports from Russia. The immediate fallout was brutal: the rupee sank to a record low, and Indian markets felt the shock. For a country that built its post-1991 trajectory on closer US ties, this tariff punch could have been destabilising. Instead, India is doubling down on multi-alignment diplomacy — diversifying trade and diplomatic engagement with Japan, China, Russia, and the SCO bloc. Why tariffs hit hard The US remains a top destination for Indian goods — from IT services to textiles. Tariffs of this magnitude erode competitiveness and raise uncertainty for exporters. Analysts warn of job impacts in labour-intensive sectors. The rupee’s plunge to historic lows only underscored the vulnerability. India’s counter-strategy Japan: Securing […]
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Luxury skincare expansion: L’Oreal acquires majority stake in Medik8; announces 1 billion Euro deal
[ad_1] Cosmetics maker L’Oreal agreed to acquire a majority stake in British skincare brand Medik8, in a strategic move to strengthen its presence in the booming skincare market. The French beauty giant announced the deal on Monday, though financial terms were not disclosed.The transaction, which sees UK-based private equity firm Inflexion selling its majority holding, reportedly values Medik8 at around 1 billion Euro, according to a source familiar with the matter. Inflexion will retain a minority share, while L’Oreal has secured the option to eventually buy out all remaining shareholders, Reuters reported.“We are delighted to welcome Medik8 to the L’Oréal family. As a premium skincare range, with high levels of proven efficacy at an accessible price point, Medik8 perfectly complements our existing skincare portfolio,” Cyril Chaupuy, president of L’oreal Luxe said.“This acquisition further strengthens L’Oreal’s luxe portfolio, adding a premium […]
270 million pulled out of poverty! How Modi government achieved a remarkable dip in extreme poverty & what’s the road ahead? Explained
[ad_1] India’s GDP has more than doubled in the last decade, and experts believe that this has trickled down to the poorest. (AI image) Marking a big achievement over the last decade, extreme poverty in India has dropped substantially from 27.1% in 2011-12 to 5.3% in 2022-23, according to the latest World Bank data. The remarkable progress under the Narendra Modi government has come despite the World Bank raising its poverty threshold to $3 per person per day from $2.15 per person per day earlier.Incidentally, India’s huge reduction in extreme poverty comes at a time when globally there has been an increase in the number of people below the poverty line. According to a government fact sheet, India has emerged a statistical outlier in the positive direction.The latest data is being seen as a boost in the government’s economic growth […]
Ayodhya land prices: Circle rates revised first time in 8 years; soar up to 200%
[ad_1] For the first time in eight years, Ayodhya has seen a sharp revision in its circle rates, with property prices rising between 30% and 200% across various parts of the district, officials told PTI.The prices are particularly steep within a 10-kilometre radius of the Ram Janmabhoomi Temple, an area witnessing a real estate boom fuelled by religious tourism and rapid infrastructure growth. Here, circle rates have jumped over 150%, pushing land values in the prime zone to Rs 26,600–27,900 per square metre, compared to Rs 6,650–6,975 earlier.Shanti Bhushan Chaubey, sub-registrar of Sadar (Faizabad) tehsil, said the hike followed a proposal submitted last September. “After addressing objections, the new circle rates were approved by District Magistrate Tikaram Funde and have now been enforced,” he said.According to Chaubey, the sharpest hikes were recorded in areas with the most land activity. “Localities […]
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