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. The department-store chain, which sources a significant portion of its self-branded goods from China, is also expected to take a hit as President Donald Trump's newly announced tariffs will likely place an additional burden on already tight American household budgets. "I don't think the consumer is going to feel a sense of relief in the short term," CEO Tony Spring said in a post-earnings call.