Macy’s stock was down 2% on Thursday after the retailer issued a profit warning as it faces “external uncertainties” amid turnaround efforts. Macy’s said its lower-than-expected earnings expectations for the first quarter and full year reflect an unclear immediate future for customers and its core nameplate retail brands including Macy’s,

Macy's forecast another year of falling sales and gave earnings guidance that disappointed investors. Shares in the department-store chain slipped nearly 4% in premarket trading. Read more:

Macy's forecast annual sales and profit below Wall Street expectations on Thursday, reflecting a broader trend among U.S. retailers grappling with reduced consumer spending amid the added pressure of new trade restrictions.