- Macy's reported a 2.7% increase in comparable sales for the fiscal second quarter, exceeding Wall Street's expectations of 0.8% growth, marking the fifth consecutive quarter of growth.
- Bloomingdale's experienced a remarkable 11.3% sales growth during the same period, while Bluemercury saw a 6.2% increase.
- Macy's net sales reached $4.87 billion, surpassing expectations of $4.8 billion.
- The company raised its full-year guidance for net sales, comparable sales, and earnings per share (EPS) for the second consecutive quarter.
- Macy's is currently in the third year of its 'Bold New Chapter' transformation strategy, which includes closing 150 underperforming stores and reinvesting in 350 locations.
- The retailer received $116 million in tariff refunds following the Supreme Court's decision to strike down IEEPA tariffs in February.
Macy's reported a 2.7% increase in comparable sales for the second quarter, surpassing Wall Street's expectations of 0.8%. This marks the fifth consecutive quarter of growth, with Bloomingdale's achieving an impressive 11.3% sales increase.12
The retailer's flagship brand saw a modest 1.1% growth, while its revamped stores contributed to a stronger 1.9% growth. CEO Tony Spring stated, "The investments we're making are driving results across our portfolio..."
Macy's adjusted earnings of $0.63 per share exceeded the expected $0.37, aided by $116 million in tariff refunds. The company plans to reinvest $96 million of these proceeds into its operations.6
With consistent progress, Macy's raised its full-year guidance, now projecting net sales between $21.6 billion and $21.8 billion, up from previous estimates of $21.5 billion to $21.75 billion. The comparable sales outlook was also increased to 1.0% to 1.5% growth, and adjusted earnings per share are expected to range from $2.15 to $2.35.34
Macy's is in the third year of its "Bold New Chapter" strategy, focusing on closing 150 underperforming stores and reinvesting in 350 locations. Spring emphasized, "I think it's a different Macy's Inc. today... we're catering to our customers while we're also becoming a more interesting investment option for our shareholders."
“The retailer received $116 million in tariff refunds after the Supreme Court struck down IEEPA tariffs, directing $20 million to profits and reinvesting $96 million. CEO Tony Spring said the company is in a healthier position and becoming a more interesting investment option for shareholders.”
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