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"Macy's, one of the few retail giants to survive the Covid pandemic, is now facing a new challenge as consumers become more cautious about making discretionary purchases. The company's comparable store sales declined by 2% year-over-year in the first quarter, and its total revenue decreased by 4%. To combat this trend, Macy's CEO Tony Spring plans to offer 'newness' to customers, including improved presentation and inspiring marketing. However, Spring also warned that customers may soon see higher prices in Macy's stores due to tariffs, which could have a domino effect on U.S. consumers."
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