Macy's, Inc. Earnings Recaps
Q2 2026
Sep 12, 2026
Shares fell 4.7% after earnings, despite positive sales and comp growth. The transcript points to a potential concern in the quality of earnings: adjusted EPS benefited from tariff refunds, and without that benefit it was 14% above last year; the excerpt does not provide updated guidance or other results that explain the full market reaction.
Key takeaways
- Macy’s Inc. comparable sales rose 2.7%; on a go-forward basis, they increased 2.8%.
- Adjusted EPS was $0.63, including a net benefit from tariff refunds. Excluding that benefit, EPS was 14% above the prior year and above the high end of guidance.
- Macy’s comparable sales increased 1.1%, its fifth consecutive quarter of growth; the 200 Reimagined stores grew 1.9%.
- Bloomingdale’s posted double-digit comparable sales growth for a second consecutive quarter, while Bluemercury also reported comparable sales growth.
- The excerpt does not include updated full-year guidance, limiting what can be concluded about the outlook.
Q1 2026
Jun 5, 2026
Macy’s shares rose 6.3% post-earnings, supported by better-than-expected comparable sales and adjusted EPS, reflecting tangible early benefits from the Bold New Chapter strategy across nameplates and channels.
Key takeaways
- Enterprise-wide comparable sales growth of 3.0%, the strongest first quarter since 2022; go-forward Macy’s tracks slightly higher at 3.1%.
- Macy’s nameplate comps grew 1.6%, led by Reimagine locations which expanded to 200 stores and posted 2.4% comp growth.
- Bloomingdale’s delivered a standout 10.2% comp increase, marking its highest first-quarter sales ever.
- Adjusted EPS of $0.13 came in above the high end of prior guidance, driven by sales strength and expense management.
- Mixed category trends with strong performance in watches, petites, dresses, and accessories offset by softness in big-ticket home furniture and plus-size apparel.
Q3 2025
Dec 3, 2025
Macy's, Inc. reported stronger-than-expected performance in Q3 2025, driven by notable sales growth across all brand segments, reflecting successful execution of its Bold New Chapter strategy.
Key takeaways
- Comparable sales grew 3.2%, with Go-Forward Macy's leading at 3.4% growth, marking a 13-quarter high for Macy's.
- Adjusted EPS stood at $0.09, significantly surpassing guidance expectations of a loss between $0.15 and $0.20.
- Bloomingdale's achieved its highest comp growth in 13 quarters, while Bluemercury continued to show consistent comparable sales growth.
- Customer satisfaction reached a record high, evidenced by Macy's strongest Net Promoter Score for Q3 and positive feedback highlighting employee engagement.
- Inventory levels aligned with expectations, positioning Macy's well for the upcoming holiday season with a diverse mix of new offerings.