Latest news with #TonySpring
Yahoo
a day ago
- Business
- Yahoo
Macy's, Inc. to Report Second Quarter 2025 Results and Participate in Goldman Sachs Retailing Conference
NEW YORK, August 12, 2025--(BUSINESS WIRE)--Macy's, Inc. (NYSE: M) will report its second quarter 2025 sales and earnings results on Wednesday, September 3, 2025. The company will host a call and webcast with financial analysts and investors at 8:00 a.m. ET. The call will be hosted by Macy's, Inc.'s Chairman and Chief Executive Officer Tony Spring and Chief Operating Officer and Chief Financial Officer Tom Edwards. The general public and the media will be able to access the live webcast and associated presentation via the company's website at To participate in the call, analysts and investors may call 1-877-407-0832. A replay of the conference call will be available on the company's website or by calling 1-877-660-6853, using the passcode 13754685 about two hours after the conclusion of the call. Additionally, on Thursday, September 4, 2025, Tony Spring and Tom Edwards will participate in a fireside chat at the Goldman Sachs 32nd Annual Global Retailing Conference beginning at 1:50 p.m. ET. A live webcast of the event will be available via the company's website at A recording of the webcast will be available on the same website following the event. About Macy's, Inc. Macy's, Inc. (NYSE: M) is a trusted source for quality brands through our iconic nameplates – Macy's, Bloomingdale's and Bluemercury. Headquartered in New York City, our comprehensive digital and nationwide footprint empowers us to deliver a seamless shopping experience for our customers. For more information, visit View source version on Contacts Media – Chris Grams communications@ Investors – Pamela Quintiliano investors@ Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Business Wire
a day ago
- Business
- Business Wire
Macy's, Inc. to Report Second Quarter 2025 Results and Participate in Goldman Sachs Retailing Conference
NEW YORK--(BUSINESS WIRE)--Macy's, Inc. (NYSE: M) will report its second quarter 2025 sales and earnings results on Wednesday, September 3, 2025. The company will host a call and webcast with financial analysts and investors at 8:00 a.m. ET. The call will be hosted by Macy's, Inc.'s Chairman and Chief Executive Officer Tony Spring and Chief Operating Officer and Chief Financial Officer Tom Edwards. The general public and the media will be able to access the live webcast and associated presentation via the company's website at To participate in the call, analysts and investors may call 1-877-407-0832. A replay of the conference call will be available on the company's website or by calling 1-877-660-6853, using the passcode 13754685 about two hours after the conclusion of the call. Additionally, on Thursday, September 4, 2025, Tony Spring and Tom Edwards will participate in a fireside chat at the Goldman Sachs 32 nd Annual Global Retailing Conference beginning at 1:50 p.m. ET. A live webcast of the event will be available via the company's website at A recording of the webcast will be available on the same website following the event. About Macy's, Inc. Macy's, Inc. (NYSE: M) is a trusted source for quality brands through our iconic nameplates – Macy's, Bloomingdale's and Bluemercury. Headquartered in New York City, our comprehensive digital and nationwide footprint empowers us to deliver a seamless shopping experience for our customers. For more information, visit
Yahoo
16-07-2025
- Business
- Yahoo
These Retailers Are Raising Prices Because of Trump's Tariffs
Fashion brands and retailers can deal with the increased cost of the White House's additional 'Liberation Day' tariffs in one of three ways: absorb the premiums, yoke them on their suppliers or pass at least a portion of them to their customers as they continue to navigate an extremely trying, fluid and uncertain time. The third route is no longer a hypothetical. A recent study from analytics firm DataWeave found that the prices of apparel have jumped by as much as 2 percent and footwear by almost 4 percent over the past six months. Joor, a digital wholesale platform, also expects brands and retailers to hike up prices by an average of 20 percent. Here are some of the household names that say they're being forced to increase the pain at the till. While Macy's CFO Adrian Mitchell said during the company's earnings call in May that the retailer has been able to glean some supplier discounts and that it's 'absorbing some of that price as well,' CEO Tony Spring told investors later that it would be raising prices on some items to make up for any funding gaps. More from Sourcing Journal Port of LA Sets June Record on 'Tariff Whipsaw'-But Signs Point to Fast Fade Macy's Inc. Refinances and Eases Debt Load EU Leaders 'Prepare for War' Against Trump's Tariffs '[Higher] pricing is working its way into the system slowly,' he said. 'That's why we have taken a more cautious approach to our outlook for the year.' Macy's also now expects adjusted earnings per share of $1.60 to $2 in 2025, down from its previous estimate of $2.05 to $2.25. About 15 to 40 cents per share of that forecast decrease is a result of the tariffs, Spring told CNBC. Mitchell said that Macy's has been reducing exposure to China by renegotiating some orders and canceling others. Some 20 percent of the retailer's offerings originated in China at the close of the last fiscal year, he said. The Just Do It firm told investors late last month that it will have to offset an expected $1 billion tariff-driven increase in costs with a 'surgical price increase' with a 'phased implementation' in the United States beginning this fall. 'These tariffs represent a new and meaningful cost headwind, and we are taking actions that balance the consumer, our partners, our Win Now actions as well as the long-term positioning of our brands in the marketplace,' chief financial officer Matthew Friend said during a fourth-quarter earnings report, with 'Win Now' referring to a strategy CEO Elliot Hill unveiled in March to refer to his turnaround strategy for the sportswear giant. China represents roughly 16 percent of the footwear Nike import into the United States, Friend said, adding that he expects to reduce this to the 'high single-digit range' by the end of fiscal year 2026 with supply from China reallocated to other countries. Imports from China face a 30 percent tariff rate pending an Aug. 12 deadline for returning to higher figures that at their steepest were 145 percent. Nike also faces sticker shock from its other sourcing destinations, including Cambodia (36 percent, down from an original 49 percent), Vietnam (20 percent, down from an original 46 percent), Indonesia (32 percent) and Thailand (36 percent). On April 16, both Chinese-founded e-tailers released near-identical notices informing customers that 'due to recent changes in global trade rules and tariffs,' operating expenses have gone up and so would their prices. 'To keep offering the products you love without compromising on quality, we will be making price adjustments starting April 25, 2025,' the two previous beneficiaries of the de minimis exception said. While some U.S. prices for Shein's ultra-cheap products, according to various calculations, have soared by the triple digits, a Washington Post analysis of nearly 300 women's fashion items sold by the juggernaut found that that prices increased by an average of 43 percent between November and May, adding $2 to a typically $5 dress, for instance. Temu, in May, said it would be mitigating some of the price inflation by transitioning to a 'local fulfillment model' that includes ramping up its recruitment of U.S. sellers. Transactional data shows that consumers might be moving on. Spending at Shein and Temu saw a year-over-year tumble of 10 percent and 20 percent, respectively, for the week ending May 11, according to data analytics firm Consumer Edge. Shein rallied slightly in mid-June, which Consumer Edge attributed to increased patronage—by as much as 50 percent—by older shoppers aged 65 and above. Younger consumers, it said, did not contribute to the rebound, while Temu's 'troubles persist.' Though CEO Brian Cornell said in May that Target would raise prices only as a 'very last resort,' the 'difficulty level has been incredibly high given the rates we're facing and the uncertainty about how these rates in different categories might evolve.' Cornell said that the tariffs were only one in a string of 'massive potential costs' that Target is grappling with. Consumer uncertainty and a massive backlash to the rollback of the diversity, equity and inclusion policies it developed in the aftermath of George Floyd's murder are others. 'Half of what we sell comes from the U.S.,' chief commercial officer Rick Gomez told investors, adding that Target is expanding production both in the United States and in countries outside of China to reduce its exposure to excessive tariffs. Fast Retailing, the Japanese conglomerate that owns Uniqlo, said last week that it plans to raise prices to soften the blow that higher tariffs will enact on its U.S. operation. Most of Uniqlo's products are manufactured in South and Southeast Asia. 'It is unavoidable that we will be significantly affected from autumn and winter,' CFO Takeshi Okazaki said in Fast Retailing's quarterly earnings conference call. 'It will be difficult to absorb all costs. Our approach will be to raise prices where possible and not where it isn't possible, while ultimately focusing on creating a sustainable business that securely generates profits.' Fast Retailing said its operating profit in the three months to May 31 rose 1.4 percent to 146.7 billion yen ($1 billion), below a forecast of 153.8 billion yen. For the current fiscal year to the end of August, however, it expects limited tariff impact because of early shipments of what it says is a 'substantial' amount of products to the U.S. market. Walmart was one of the first retailers to warn consumers in May that prices were going to go up because of tariffs, prompting President Donald Trump to warn the big box in a Truth Social post to 'EAT THE TARIFFS' and 'not charge valued customers ANYTHING.' 'We will do our best to keep our prices as low as possible, but given the magnitude of the tariffs, even at the reduced levels announced this week, we aren't able to absorb all the pressure given the reality of narrow retail margins,' CEO Doug McMillon said on a call with analysts the same month. Walmart's CFO and executive vice president John David Rainey concurred, telling CNBC on May 15 that the level of tariffs that have been proposed has been 'pretty challenging for all retailers, for suppliers, and certainly our concern is that consumers are going to feel some of that.' He said that products like electronics, toys and food will be affected most. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
03-06-2025
- Business
- Yahoo
Why Macy's, Inc. (M) Crashed On Monday
We recently published a list of . In this article, we are going to take a look at where Macy's, Inc. (NYSE:M) stands against other worst performers on Monday. Macy's extended its losing streak to a fourth consecutive day on Monday, shedding another 4.79 percent to finish at $11.32 apiece as investors continued to dispose of shares following news that it would raise its prices across its stores to offset higher tariffs. Although Macy's, Inc. (NYSE:M) followed suit of other retailers that have previously guided higher prices, the possibility of lower demand for its products dampened investor sentiment. A customer in a store trying on fashionable apparel and accessories for purchase. 'There are going to be items that are the same price as they were a year ago. There [are] going to be, selectively, items that may be more expensive, and there are items that we might not carry because the pricing doesn't merit the quality or the perceived value by the consumer,' Macy's, Inc. (NYSE:M) CEO Tony Spring said in an interview with CNBC following the company's first quarter earnings results. He added that the company is actively reducing its exposure to Chinese imports through renegotiating supplier contracts, as well as cancelling and delaying orders that do not meet their value criteria. READ NEXT: 20 Best AI Stocks To Buy Now and 30 Best Stocks to Buy Now According to Billionaires. Disclosure: None. This article is originally published at Insider Monkey. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
30-05-2025
- Business
- Yahoo
Macy's CEO warns customers of a harsh change in stores
Macy's CEO warns customers of a harsh change in stores originally appeared on TheStreet. Macy's () , which owns Bloomingdale's and Bluemercury, is one of the few nostalgic mall retail giants that survived the Covid pandemic, a period that caused several retailers to either file for bankruptcy or go out of business. After surviving the pandemic, Macy's is now battling a startling shift in customer behavior. In Macy's first-quarter earnings report for 2025, it revealed that its comparable store sales declined by 2% year-over-year during the quarter. 💵💰Don't miss the move: Subscribe to TheStreet's free daily newsletter 💰💵 The shrinkage in sales contributed to the company earning a total revenue of roughly $4.7 billion during the quarter, which is about 4% lower than what it earned during the same time period last Macy's struggles with lower sales, the average number of visits customers made to each of its locations dipped by 0.2%, according to recent data from During an earnings call on May 28, Macy's CEO Tony Spring said that while the company performed strongly in March and April, its performance in February lagged due to unseasonable weather. He also said that despite recent changes in the economy, consumers (with both low and high income levels) continue to shy away from making discretionary purchases. 'Discretionary spending is something that I think we've seen from the middle of last year kind of forward, that as inflation subsided a little bit, as gas prices became more affordable, the consumer still felt the pinch of other costs that were rising,' said Spring. 'And so, we're maintaining our aggressive position in trying to make sure that we're capturing our fair share. I would say at the high end, the consumer is not obviously pressured, but they remain choiceful, and they don't like uncertainty.'In order to help combat this concerning trend, he said that Macy's will continue to offer 'newness' to customers. 'So the consumer remains under pressure but is responding to newness, is responding to good value, is responding to improved presentation, is responding to inspiring marketing,' said Spring. 'I think we can control some of these elements. I can't control how much discretionary spend the consumer is willing to lay out, but I can control the quality of our execution.' As shoppers become more cautious about making discretionary purchases, Spring also warned that customers may soon see higher prices in Macy's stores due to tariffs (taxes companies pay to import goods from overseas). Last month, President Donald Trump imposed a 10% baseline tariff on all countries and paused reciprocal tariffs. The pause on reciprocal tariffs will end in July, and as a result, roughly 60 countries will soon see increased tariff rates. This will likely have a domino effect, resulting in U.S. consumers seeing higher prices for goods. Spring said that Macy's is 'slowly' implementing price increases in its stores, highlighting that the company will be 'aggressive on pricing' and will remain 'very competitive.' 'I would say the pricing is working its way into the system slowly,' said Spring. 'So you certainly saw little to no pricing in the first quarter. You're seeing some limited pricing in the second quarter.' More Retail: Costco quietly plans to offer a convenient service for customers T-Mobile pulls the plug on generous offer, angering customers Kellogg sounds alarm on unexpected shift in customer behavior During the earnings call, Macy's Chief Financial Officer Adrian Mitchell emphasized that the company isn't solely using price increases to combat the threat of tariffs but is also being 'incredibly surgical' about how it handles them. This includes negotiating with vendors to obtain brands and styles that customers are interested in buying. It has also shifted more of its production away from China, which is one of the countries on which Trump imposed high tariff rates. Macy's has even canceled and delayed certain orders that couldn't be obtained from vendors at a fair price. 'We've been able to gain some vendor discounts, which has been helpful to us, but we're absorbing some of that price as well,' said Mitchell. 'So we're making selective price increase(s) in selective brands, selective categories, because we believe the value equation for the customer is still very relevant.' The move from Macy's comes at a time when many consumers are changing their spending habits to prepare for the impact of Trump's tariffs. According to a recent survey from Harris Poll and Bloomberg News, 56% of Americans said their household finances would be better off if Trump's tariffs were never enforced. Also, three in five Americans said they are cutting back their spending due to concerns about a potential recession. Additionally, more than 70% said they are eating out less, and 57% said they are spending less on CEO warns customers of a harsh change in stores first appeared on TheStreet on May 29, 2025 This story was originally reported by TheStreet on May 29, 2025, where it first appeared. 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