As Q1 earnings season winds down, big names in the retail industry are beginning to report their results. The season so far has seen disappointing earnings and revenue growth across many industries, and it will be interesting to see how the retail sector will perform, as the space has been struggling in the trailing quarters. Let’s take a look at the key retailers who have reported so far. Macy’s, Inc. M The retail bellwether reported mixed first quarter results. Adjusted earnings per share came in at $0.40, surpassing the Zacks Consensus Estimate of $0.35 per share. Total net revenues of $5.771 billion, however, lagged behind our consensus estimate of $5.955 billion and decreased 7.4% year-over-year. Macy’s noted that persistent softness in consumer spending levels for apparel and other related categories, lower spending by international tourists due to a stronger dollar, and sluggishness seen in some center core categories dampened the performance. As a result, the retailer has cut its fiscal 2016 guidance. Earnings per share are expected to be between $3.15-3.40, well below original estimates of $3.80-3.90 per share. The current Zacks Consensus Estimate is now at $3.77 per share, which could see a downward revision in the coming days. Macy’s also projects comps, on an owns plus licensed bases, to decline in the band of 3-4%, and on an owned basis, comps are expected to be about 50bp below. Fossil Group, Inc. FOSL Retailer Fossil posted disappointing Q1 results. Earnings per share of $0.12 lagged behind the Zacks Consensus Estimate of $0.14 and plunged 84% from the year-ago period. Net sales came in at $659.8 million, missing the Zacks Consensus Estimate of $668 million and declining 9% year-over-year. The bottom line’s weak performance was due to a decline in sales, operating income, and adverse currency movements, whereas the top line decrease was primarily due to currency headwinds as well as a challenging environment in Fossil’s traditional watch category. For 2016, Fossil has reduced its sales, operating margin, and earnings guidance for fiscal 2016, on the back of lower-than-expected Q1 results, and the company continues to expect a challenging retail environment. Fossil now projects earnings per share in the range of $1.80-2.80, and sales to decline in a range of 1.5-5%. In stark contrast, e-commerce giant Amazon.com Inc. AMZN crushed Q1 earnings estimates, reporting earnings per share of $1.07 that was way above the Zacks Consensus Estimate of $0.21 per share. Revenues of $29.13 billion also beat the consensus estimate of $27.94 billion. Amazon’s impressive quarterly performance is a testament to consumers’ changing preferences, as its prices, deals, selection, and Prime membership are keeping shoppers out of brick-and-mortar retail stores. What’s In Store Macy’s and Fossil are just the tip of the iceberg, with many name brand retailers yet to report their earnings. Later this week, fellow department store giants Nordstrom, Inc. JWN and JCPenney, Inc. JCP are reporting their quarterly results after the bell on May 12 and before the bell on May 13, respectively. Ralph Lauren Corp. RL is also reporting before the open on May 12. Next week sees the bulk of retail companies posting their results. Home improvement retailer Home Depot HD reports before market open on May 17. Mall staples American Eagle Outfitters AEO, Urban Outfitters, Inc. URBN, and L Brands, Inc. LB, owner of Victoria’s Secret, all report after the bell on May 18. Target Corp. TGT reports before the market opens on May 18 as well. Struggling retailer Gap, Inc. GPS and retail behemoth Wal-Mart Stores, Inc. WMT report after the bell and before the market opens, respectively, on May 19. Costco Wholesale Corp. COST) reports after the bell on May 25, while Abercrombie & Fitch Co. ANF and ULTA Salon & Cosmetics ULTA are set to report on May 26. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report AMAZON.COM INC (AMZN): Free Stock Analysis Report HOME DEPOT (HD): Free Stock Analysis Report FOSSIL GRP INC (FOSL): Free Stock Analysis Report ABERCROMBIE (ANF): Free Stock Analysis Report AMER EAGLE OUTF (AEO): Free Stock Analysis Report GAP INC (GPS): Free Stock Analysis Report NORDSTROM INC (JWN): Free Stock Analysis Report URBAN OUTFITTER (URBN): Free Stock Analysis Report WAL-MART STORES (WMT): Free Stock Analysis Report TARGET CORP (TGT): Free Stock Analysis Report COSTCO WHOLE CP (COST): Free Stock Analysis Report ULTA SALON COSM (ULTA): Free Stock Analysis Report MACYS INC (M): Free Stock Analysis Report PENNEY (JC) INC (JCP): Free Stock Analysis Report RALPH LAUREN CP (RL): Free Stock Analysis Report L BRANDS INC (LB): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research