Macy's beat quarterly estimates and raised full-year guidance after stronger second-quarter sales.
Why it matters: The update offers a fresh read on discretionary spending and department-store traffic heading into the fall. Macy's higher forecast also signals to investors and rivals that the chain's turnaround is gaining traction in key categories.
- Adjusted diluted EPS was $0.63, up from $0.35 a year earlier.
- Net sales rose 1.1% to $4.9 billion, while comparable sales increased 2.7% overall.
- Bloomingdale's comparable sales rose 11.3% and Bluemercury's increased 6.2%.
- Macy's raised its full-year outlook to $21.675 billion-$21.825 billion in net sales and $2.15-$2.35 in adjusted EPS.
Macy's said Sept. 10 that second-quarter fiscal 2026 results came in ahead of expectations, with adjusted diluted EPS of $0.63 and adjusted EBITDA of $457 million. Net sales rose to $4.9 billion, and comparable sales increased 2.7% overall, according to the company's earnings release.
Reuters reported that Bloomingdale's and Bluemercury led the quarter, with Bloomingdale's comparable sales up 11.3% and Bluemercury up 6.2%. Macy's banner comparable sales rose 1.1%.
Macy's also lifted its fiscal 2026 outlook, now seeing $21.675 billion to $21.825 billion in net sales and $2.15 to $2.35 in adjusted EPS. Chairman and CEO Tony Spring said the quarter reflects continued progress under the company's Bold New Chapter strategy, including investments in Reimagine 200 Macy's stores.
AP reported the stock fell after the update as investors weighed the company's caution about macroeconomic and geopolitical risks.
By the numbers
- $0.63 - Adjusted diluted EPS in the second quarter, vs. $0.35 a year earlier
- $4.9 billion - Net sales in fiscal second quarter, up 1.1% year over year
- $21.675 billion to $21.825 billion - Macy's new full-year net sales forecast
Yes, but: The company still flagged macroeconomic and geopolitical risks, which could pressure consumer demand and margins.
What's next: Macy's will be watched for whether the stronger performance at Bloomingdale's and Bluemercury extends into the next quarter.