Macy’s Reinvests Tariff Refunds to Support Store Turnaround
Macy’s reported overall net sales up 1.1% year on year to $4.9 billion, with comps rising 2.7%. Bluemercury and Bloomingdale’s saw gains, while the company plans to use tariff refunds to bolster its turnaround via brand-building, speeding store overhauls, and mitigating fuel volatility rather than pushing price cuts. Gross margin rose 180 bps to 41.5%.