Macy's (M) shares gained Wednesday as the biggest U.S. department store chain's better-than-anticipated profit offset warnings about the potential impact of tariffs, which the company plans to address with some price hikes.

Macy’s reported first-quarter adjusted earnings per share of $0.16, a penny more than the average estimate of analysts surveyed by Visible Alpha. Sales that fell 5% year-over-year to $4.60 billion were short of forecasts, although the 澳洲幸运5官方开奖结果体彩网:same-store sales declin🎀e of 2.0%🐭 on an owned basis was smaller than expected. 

Sales at its namesake stores dropped 6.5% inclusive of store closures, but they were 2.6% higher at Bloomingdale's and up 0.8% at Bluemercury.

Macy's Lowers Full-Year Adjusted EPS Outlook

Looking ahead, the company explained that because of "initial and current tariffs; some moderation in consumer discretionary spending; and a heightened competitive promotional landscape," it was lowering its full-year adjusted EPS outlook to $1.60 to $2.00 from the earlier $2.05 to $2.25.

According to a transcript provided by AlphaSense, CEO Tony Spring said on the earnings call that Macy's is resilient, and has "successfully navigated macro and geopolitical uncertainty in the past, and we will do so again." Spring added that among the steps the retailer plans to take is "strategic pricing decisions, being mindful of the price value relationship between our market brands and private brands and the broader marketplace." However, Spring noted that Macy's is not "just broadly increasing price."

Even with today's 2% advance, shares of Macy's have lost about 28% of their value this year.