Macy's jumps on quarterly profit beat, tariff relief expectation

Shares of department store operator Macy's M.N rise 5.7% to $17.88 premarket

Co beats quarterly profit estimates, sees hit from import tariffs easing in the second half of the year

Excluding items, co reports quarterly earnings per share of $1.67, compared with expectations of $1.53-data compiled by LSEG

Macy's said tariff pressures could weigh on margins in the first half of the year, with the largest impact expected in the first quarter

However, it sees annual adjusted profit between $1.90 and $2.10 per share, compared with analysts' estimate of $2.17

Stock has fallen ~23% YTD, as of last close