A handful of retailers delivered a mixed message on tariff impacts when reporting earnings today.
🛍️ Macy's: The department store chain reduced its earnings outlook, though tariffs were only part of the reason. CEO Tony Spring told CNBC the company would raise prices on a "surgical" basis to offset them. But its strategy of focusing on its best locations is starting to yield results. The company's comparable sales at its owned stores fell 2%, and revenue beat expectations. The stock closed down 0.3%.
🏸 Dick's Sporting Goods: The sports retailer maintained its full-year guidance for comparable sales and earnings based on "the expected impact from all tariffs currently in effect." Q1 comp sales rose 4.5%, fueled by an uptick in average ticket spend and total transactions. Shares closed up 1.7%.
👕 Abercrombie & Fitch: The fashion retailer reduced its full-year outlook for profit and operating margin while noting an expected $50 million hit from tariffs. But the company said it wasn't planning any "broad-based" price increases. It also upped its full-year revenue forecast and beat expectations on Q1 revenue and profit, sending its stock soaring almost 15%.
