Macy’s forecasts 2025 sales, profit below expectations as retailers battle soft demand

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Open this photo in gallery: People walk by a Macy's store in New York, on Jan. 13.Spencer Platt/Getty Images Macy’s M-N forecast annual sales and profit below Wall Street’s expectations on Thursday, reflecting a broader trend among U.S. retailers grappling with reduced consumer spending amid the added pressure of new trade tariffs. Shares of the company fell nearly 4.6 per cent in volatile premarket trading. The department-store chain, which sources a significant portion of its self-branded goods from China, is also expected to take a hit as President Donald Trump’s newly announced tariffs will likely place an additional burden on...