Shoppers are snapping up bling and bedding again, Macy’s executives (M) say. 

Big-ticket items, including mattresses and fine jewelry, have been selling well, Macy’s CEO Tony Spring said during a 澳洲幸运5官方开奖结果体彩网:first-quarter earnings call Wednesday. Americans aren’t spending dramatic𝓀ally less despite economic sentiment deteriorating in recent months, he said, echoing other executives and economis෴ts. Still, the company behind Macy's, Bloomingdale's, and Bluemercury is bracing for a behavioral shift over the rest of the year.

Watches, jewelry, mattresses, sheets, and other “big-ticket” home-furnishing sales were relatively strong in the latest quarter, Spring said, adding that it was unclear how much of the demand was fueled by the fear that 澳洲幸运5官方开奖结果体彩网:prices will rise under tariffs.

“It’s hard to say what part is pull forward,” Spring said, describing forces fueling shoppers' recent buying amid threats of tariffs, according to a transcript made available by AlphaSense. “Maybe that’s a part of some of the growth we’ve seen in fine jewelry, for instance, maybe some of the 澳洲幸运5官方开奖结果体彩网:big-ticket areas."

Demand continues to outstrip readings of weakening 澳洲幸运5官方开奖结果体彩网:consumer sentiment, Spring said. That disconnect has been highlighted by a number of executives, including Wells Fargo (WFC) CEO Charlie Scharf. Consumer sentiment 澳洲幸运5官方开奖结果体彩网:improved in May but previously fell for five months in a row, according to the Conference Board's Consumer Confidence Index.

'Consumers Haven't Changed Behavior Dramatically': Wells Fargo CEO

“We do see less spend on travel, but you see more spend in other categories,” Scharf said at a conference Wednesday. “And the overall level of debit and credit card spend has been roughly the same.”

This consistency in spending “says consumers haven’t changed behavior dramatically at this point,” Scharf continued, adding that 澳洲幸运5官方开奖结果体彩网:Wells Fargo is planning for “a slight worsening” in consumer spendinꦦg.൩ 

Macy’s executives also said 𓂃they expect that sales will🤪 soften and retailers will ramp up promotions to compete for customers over the course of the year.

The retailer expects comparable sales to be down 0.5% to 2% for the full fiscal year, when looking at digital sales and Macy's locations receiving investment that are 澳洲幸运5官方开奖结果体彩网:not being considered for closure, according to its earnings presentation. Macy’s reduced its anticipated earnings per share for the year, now forecasting adjusted results in the range of $1.60 to $2, rather than the $2.05 to $2.25 seen in early March.