By ANNE D’INNOCENZIO and MICHELLE CHAPMAN, Associated Press Business Writers

NEW YORK (AP) — Macy’s sales and profit slipped in its first quarter and the department store, citing more cautious customers and the impact that the U.S. trade war will have on the company and its shoppers, trimmed its profit forecast for 2025.

However the New York retailer, which also owns upscale Bloomingdale’s and the Bluemercury cosmetics chain, topped most performance expectations for the first three months of the year and maintained its sales forecast for the year.

Chairman and CEO Tony Spring said during Macy’s conference call on Wednesday that the company is in active talks with its partners as it navigates current economic conditions.

“We are confident that we can continue to diversify countries of origin for both our private and national brands,” Spring said. “With the recent announcement of these tariffs, we’ve renegotiated orders with suppliers. We’ve canceled or delayed orders where the value proposition is just not where it needs to be.”

The executive said that Macy’s currently has a “good handle on the tariff-related costs,” but is aware that the situation is constantly changing.

FILE – A Macy’s department store is in Bay Shore, Long Island, New York, on Tuesday, December 12, 2023. (AP Photo/Ted Shaffrey, File)

The retailer is raising prices on some of its brands. While consumers remain under pressure, Spring said that they are responding well to new products and items that are considered to be a good value.

Shares rose about 4% before the market opened Wednesday.

Macy’s sales dropped to $4.79 billion from $5 billion a year earlier, better than the $4.42 billion that analysts polled by FactSet expected.

Comparable sales, which include online channels, dipped 2%. However, Bloomingdale’s and Bluemercury both saw comparable sales growth.

Neil Saunders, managing director of GlobalData, noted Bloomingdale’s 3% comparable sales growth.

“Good execution from Bloomingdale’s and its balanced assortment of luxury and prestige products has served it well,” he said. “This is especially so compared to chains that play much more exclusively in the very high-price arena, which have lost customers and seen an erosion of spending.”

“Our first-quarter results give us confidence that we have the right strategy and team in place to navigate the current environment while we continue to invest in our customer on the path to returning Macy’s, Inc. to sustainable profitable growth,” Spring said in a statement on Wednesday.

For the period ended May 3, Macy’s earned $38 million, or 13 cents per share. That compares with $62 million, or 22 cents per share, a year ago.

Stripping out certain items, earnings were 16 cents per share, which topped Wall Street’s estimate by a penny.

The company still anticipates 2025 sales in a range of $21 billion to $21.4 billion. It now expects full-year adjusted earnings between $1.60 and $2 per share. Its prior forecast was for an adjusted profit of $2.05 to $2.25 per share.

Industry analysts had been projecting full-year sales of $21.03 billion and an adjusted per-share profit of $1.91.

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Macy’s and other retailers are wrestling with uncertainty about tariffs that’s making it hard to plan, while contending with customers who seem to have the same issues and are pulling back on spending.

Macy’s had about 20% of its products originate from China at the end of its last fiscal year. Private brands sourced approximately 27% from China, down from 32% last year.

Teen retailer American Eagle Outfitters withdrew its financial outlook for the year earlier this month citing “macro uncertainty” and said it would write down $75 million in spring and summer merchandise.

Ross Stores did the same last week.

Walmart, the nation’s largest retailer, got a public scolding from President Donald Trump after it said this month that it has already raised prices on some items and would have to do so again right when the back-to-school shopping season kicks off. Trump told the retail giant that it should “eat” the additional costs created by his tariffs.

Target Corp. announced last week that sales fell more than expected in the first quarter, and the retailer warned they will slip for all of 2025 as its customers, worried over the impact of tariffs and the economy, pull back on spending. The company said that it should be able to offset the majority of the impacts from tariffs.

Trump’s threatened 145% import taxes on Chinese goods were reduced to 30% in a deal announced May 12, with some of the higher tariffs on pause for 90 days. Trump on Friday threatened a 50% tax on all imports from the European Union as well as a 25% tariff on smartphones unless those products are made in America.

But then on Sunday, Trump said that the U.S. will delay implementation of a 50% tariff on goods from the EU from June 1 until July 9 to buy time for negotiations with the bloc.

Macy’s executives emphasized in March during the last earnings call that the company is facing lots of unpredictability given ever-changing tariff policies and is focusing on what it can control and zeroing in on improving its merchandise and services, including improving its store label brand.

PARIS (AP) — A 74-year-old former surgeon, who raped hundreds of victims over a period spanning more than two decades, was sentenced on Friday to the maximum sentence of 20 years in prison by a French court.

Joël Le Scouarnec was found guilty of raping and sexually assaulting 299 children.

Le Scouarnec is already serving a 15-year prison sentence, for a conviction in 2020 for the rape and sexual assault of four children, including two nieces.

The new trial in Brittany, western France, began in February and laid bare a pattern of abuse between 1989 and 2014. Most of the victims were unconscious or sedated hospital patients at the time of the assaults. The average age was 11. Among the victims were 158 boys and 141 girls.

By LEANNE ITALIE, Associated Press Lifestyles Writer

NEW YORK (AP) — Krista Vasquez had her heart set on getting married in a body-hugging, halter-style gown from Spain. In April, the Atlanta paramedic learned her dream dress would cost nearly $300 more because of new U.S. tariffs on imported goods.

With little wiggle room in her timing, the bride-to-be quickly checked around for similar styles. The story was the same: any dresses from Europe would come with tariff-driven price increases ranging from $150 to $400. And that was before President Donald Trump said he would increase the tariff on goods produced in the European Union from 10% to 50%.

Vasquez, 33, went with her first choice, fearing shipping delays or additional costs like a rush fee before her October wedding if she placed an order elsewhere.

“It’s already expensive enough to get married,” she said. “It just kind of made me a little sad.”

Wedding cakes, decor, attire, flowers, party favors, photo and video equipment, tableware, wine and Champagne. Not many goods used in the wedding industry remain untouched by the tariffs Trump has imposed since returning to office. How much of the import taxes get passed down to consumers is up to florists, photographers, caterers and myriad other vendors and intermediaries, such as wholesalers.

This April 15, 2023, photos shows a bridal bouquet in Grass Valley, Calif. Wedding vendors and bridal couples this year are being impacted by U.S. tariffs imposed on other countries around the world. (Bryan Gallagher Photo via AP).

Olivia Sever, a 28-year-old online content creator in San Diego, has a lot of wedding shopping ahead of her. Much of what she wants may cost more because of tariffs. An immediate concern is some of her paper goods. Her wedding planner has already flagged a 10% price increase for the menus, place cards and signage she wanted for her September celebration in Hawaii.

Sever said shifting to American goods isn’t always cost-effective. For instance, flowers grown in Hawaii are in high demand, with increased prices to match, in response to 10% tariffs imposed on a large number of imports around the world. That includes flowers from Ecuador, Colombia and other countries that grow the bulk of the flowers the U.S. imports.

“There’s just so many unknowns, but we have our budget and we’re trying to work within our budget,” Sever said. “If that means we can’t get these, you know, specific shell cups I want, then we just won’t get them and we’ll get something else.”

Here’s a look from inside the wedding industry on tariffs.

Tariffs and the wedding cake industry

Clients of Phoenix cake artist Armana Christianson pay roughly $750 to $800 for one of her creations. She spent two years perfecting the 16 flavor combinations she offers.

They range from simple vanilla bean, made with vanilla bean paste imported from Mexico, to dark chocolate raspberry with a whipped hazelnut ganache that’s dependent on chocolates and powders from Belgium.

This March 17, 2025, photo shows Armana Christianson in Mesa, Ariz. with one of her wedding cake creations. Wedding vendors and bridal couples alike are feeling the impact of U.S. tariffs imposed on countries around the globe. (Larisa Kaiser via AP).

Not all of Christianson’s cost woes are tariff-driven. The chocolate industry was already struggling because of a cocoa bean shortage.

“I’m a small business with just myself as my employee. I’ve seen at minimum a 20% increase in just the chocolate I use. It’s a type of chocolate that I’ve built into my recipes. Changing brands isn’t acceptable,” Christianson said.

The imported white chocolate in her white chocolate mud cake, a popular flavor, shot up from $75 or $100 per cake to $150. She used nearly 10 pounds of it in a recent order, a cake that had five tiers.

Christianson may have to come up with new recipes based on less expensive ingredients. In the meantime, she said, she’s eating the cost of tariffs for clients already on her books.

“I don’t have it in my contract where I can raise prices for unexpected events like this,” she said. “Unfortunately, that’s something I have to add to new contracts for my future couples.”

Tariffs and the wedding dress industry

Almost all bridal gowns are made in China or other parts of Asia — and so are many of the fabrics, buttons, zippers and other materials used, according to the National Bridal Retailers Association. Manufacturing in those countries, where labor generally costs less, has put the price of high-quality bridal gowns within reach for many American families.

Retailers and manufacturers say the U.S. lacks enough skilled labor and production of specialized materials to fully serve the market. Skilled seamstresses are hard to find and often come from older generations.

This May 31, 2024, photos shows a bridal gown display at the Urban Set Bride shop in Richmond, Va. Most U.S. bridal gowns are made in China. Wedding vendors like bridal shops, along with bridal couples, are feeling the impact of tariffs imposed by the U.S. on countries around the globe. (Chelsea Diane Photography via AP).

“The materials that we sell in a bridal shop include lace, beadwork, boning for the corsetry. We don’t really make stuff like that in this country. There just aren’t very many designers who create and put their whole looks together in this nation,” said Christine Greenberg, founder and co-owner of the Urban Set Bride boutique in Richmond, Virginia.

“The designs done here are normally very simple designs. You don’t see a lot of American-made gowns that have a lot of detail, a lot of embroidered lace, and that’s a really popular wedding gown style,” she said.

Many designers with gowns labeled made in the U.S. still are using imported materials, Greenberg noted.

If Trump’s highest tariffs on China are reinstated after a current pause, Greenberg said her small business will pay between $85,000 and $100,000 extra in import taxes this year.

“For a small, family-owned business that only hosts one bride at a time, this will absolutely lead us and many others to close for good,” she said. “We can’t buy American when the products don’t exist.”

Tariffs and the cut flower industry

Roughly 80% of cut flowers sold in the U.S. come from other countries. And lots of quality faux flowers are made in China.

Colombia is a large supplier of roses, carnations and spray chrysanthemums. Ecuador is another major rose supplier. The Netherlands produces a huge share of tulips and other flowers. In addition, some of the cut greens used as filler in flower arrangements and bouquets in the U.S. are imported.

“If you’re talking about cars and computer chips, they’ve got inventory that’s sitting there. It’s already stateside. Our inventory turns in days and we saw the impact almost immediately,” said Joan Wyndrum, co-founder of the online floral distributor Blooms by the Box. “We’re all absorbing a little bit, but it’s inevitable that it comes out on the consumer end of it.”

Wyndrum, who works directly with wholesalers and growers, said the U.S. flower industry isn’t capable at the moment of absorbing all the production from elsewhere. She does a lot of business with U.S. suppliers, though, and sees a huge opportunity for growth stateside.

“There’s a benefit to the U.S. bride to have flowers grown here. It’s the simple reason of freshness,” she said.

Tariffs and the wedding industry overall

Jacqueline Vizcaino is a luxury wedding planner and event designer in Atlanta. She’s also national president of the Wedding Industry Professionals Association, a 3,500-member, education-focused trade group whose members include transportation and photo booth providers, makeup artists, caterers, linen distributors and planners.

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Any one wedding may involve 40 or more vendors, Vizcaino said. Huge jumps in costs are already widespread due to tariffs, she said, florals and fabrics among them.

With many weddings planned up to a year or more in advance, she and others in the industry are girding for more bad news.

“We’re going to see a lot of interactions that aren’t so pleasant in the next eight to 12 months,” she said.

Tariffs have delayed decision-making among many couples planning weddings.

“Decisions are taking double the time because of the uncertainty. People are shopping around more and wanting (vendors) to lock in at the lowest price possible,” Vizcaino said.

Said McKenzi Taylor, a planner who coordinates weddings in Las Vegas, San Diego and the Black Hills in South Dakota: “Our inquiry-to-booking window has grown from 40 days to 73. Cancellations are up so far this year, on pace to double from last year, with costs definitely being a concern for couples. My vendors are shaking in their boots.”

By CHRISTOPHER BODEEN, Associated Press

TAIPEI, Taiwan (AP) — Strongly pro-Taiwan U.S. Sen. Tammy Duckworth is visiting the self-governing island democracy to discuss regional security and relations with the U.S.

Duckworth, an Illinois Democrat, will hold a series of high-level meetings with senior Taiwan leaders to discuss U.S.-Taiwan relations during her visit Wednesday and Thursday, said the American Institute in Taiwan, which acts as the de-facto American embassy in Taiwan in liu of formal diplomatic relations.

Trade, investment and “other significant issues of mutual interest” also are on the schedule, the institute said.

“The visit underscores the United States’ commitment to its partnership with Taiwan and reaffirms our shared commitment to strengthening a Free and Open Indo-Pacific,” the institute said.

China routinely protests such visits, which it views as a violation of U.S. commitments.

Duckworth and her staff are the second U.S. congressional delegation to visit Taiwan in as many days, demonstrating concerns in Washington over the island’s security in the face of Chinese threats to invade, as well as its importance as a trade partner, particularly as the producer of 90% of the world’s most advanced computer chips.

In this photo released by the Taiwan Presidential Office, Taiwan’s President William Lai Ching-te meets with Rep. Bruce Westerman, chair of the House Natural Resources Committee in Taipei, Taiwan on Tuesday, May 27, 2025 (Taiwan Presidential Office via AP)

Taiwan also faces 32% tariffs under the Trump administration, a figure the government in Taiwan is attempting to negotiate to a lower level without angering sectors such as agriculture that fear lower tariffs could open their markets to heightened competition from abroad.

Duckworth is visiting at the same time as Lourdes A. Leon Guerrero, the governor of Guam, the U.S. Pacific territory that would almost certainly be a key player in any Chinese military moves against Taiwan.

Taiwan and China split during a civil war in 1949 and Beijing still considers the island its own territory to be annexed by force if necessary. China refuses all contact with the government of President Lai Ching-te, whom China brands as a separatist, and seeks to maximize diplomatic pressure on Taiwan.

While China sends military aircraft, ships and spy balloons near Taiwan as part of a campaign of daily harassment, special attention has been given this week to the location of the Liaoning, China’s first aircraft carrier, whose hull was bought from Ukraine and then fitted out by China more than a decade ago. China has two aircraft carriers including the Liaoning, a third undergoing sea trials and a fourth under construction.

“What I can tell you is that the activities of the Chinese warship in the relevant waters are fully in line with international law and the basic norms of international relations,” Chinese Foreign Ministry spokesperson Mao Ning said.

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Col. Hu Chung-hua of the Taiwanese Defense Ministry’s’ intelligence department told reporters Wednesday that the carrier was currently in waters southeast of Taiwan and has been under close surveillance by Taiwan’s monitoring stations since leaving its home port in China.

There are concerns the carrier might stage military drills close to Taiwan that could be a further step toward a blockade, an act the U.S. would be required to respond to under its own laws. While the U.S. provides much of Taiwan’s high-tech military hardware, the law is unclear whether it would send forces to aid Taiwan in the event of a conflict.

Hu said the ministry would not comment on the possibility of drills near Taiwan, but considers all options while monitoring the Chinese military.

The ministry “anticipates the enemy as broadly as possible and defends against the enemy strictly. We also carefully evaluate and act accordingly,” Hu said.

China is considered a master of “grey-zone encounters” that bring tensions just to the point of breaking out into open conflict.

Col. Su Tong-wei of the ministry’s operation of planning said the armed forces were constantly evaluating threat levels to consider whether to “activate a response center, or to increase our defense readiness to perform an immediate readiness drill.”

“We will also react accordingly to safeguard national security,” Su said.