Several major U.S. retailers reported mixed first-quarter results and provided cautious outlooks amid ongoing challenges from tariffs and shifting consumer behavior. Macy's topped Street expectations for Q1 sales but cut its full-year profit forecast, attributing the revision to tariff impacts and concerns over consumer spending. The company is implementing a selective pricing strategy, described by CEO Tony Spring as a 'surgical' approach, raising prices on some items while absorbing costs on others. Macy's is also continuing its turnaround plan by closing approximately 90 additional stores. Abercrombie & Fitch saw its stock rise over 14% despite lowering its profit outlook due to tariffs, benefiting in part from a revival of 1990s fashion trends that also boosted Gap. Burlington Stores exceeded Q1 expectations and maintained its full-year guidance, with its top executive viewing the tariff environment as an opportunity. Kohl's experienced a 4.1% sales decline and a $15 million net loss following a CEO change but maintained its 2025 outlook, noting consumers are trading down to cheaper goods amid tariff pressures. Dick's Sporting Goods reported increased quarterly sales and maintained its outlook, expressing confidence in its planned acquisition of Foot Locker, with analysts recommending its stock as a buy despite market skepticism. Overall, retailers are navigating a complex landscape of tariffs, evolving promotional dynamics, and consumer spending shifts as they adjust pricing and operational strategies.