Department store chain Macy’s topped first quarter estimates on its top and bottom lines, posting revenue of $4.6 billion (vs. estimates of $4.46 billion) and adjusted earnings of $0.16 per share (vs. estimates of $0.14). On top of its quarterly results, Macy’s cut its full-year profit outlook, citing tariff pressures and a more cautious consumer.
Morningstar senior equity analyst David Swartz comes on The Morning Brief to talk more about the store’s progress in its turnaround plan.
To watch more expert insights and analysis on the latest market action, check out more Morning Brief here: https://finance.yahoo.com/videos/series/morning-brief/?fr=sycsrp_catchall
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