By Neil J Kanatt

(Reuters) -Macy's raised its annual sales and profit forecasts on Wednesday, as the retailer's turnaround strategy boosts demand across its Bloomingdale's and Bluemercury chains, sending its shares up about 12% in premarket trading.

Shedding some underperforming banners and leaning into its pricier labels, which serve higher-income shoppers, helped Macy's offset the hit from pressured consumer spending amid macroeconomic uncertainty, triggered by the Trump administration's volatile tariff policy.

The retailer is benefiting from the turnaround plan that CEO Tony Spring introduced last year February, which included closing 150 Macy's stores by 2026, reinvesting in high-potential locations and improving product offerings and loyalty programs.

Macy's is confident about its

See Full Page