Macy's (M)

NYSE:M

Macy's

RESEARCH TOOLSreports

Want to see M full AI Analyst Report?

Macy's (M) Earnings Dates, Call Summary & Reports

5,373 Followers

Earnings Data

Report Date

Aug 25, 2026

Before Open (Confirmed)

Period Ending

2026 (Q2)

Consensus EPS Forecast

0.35

Last Year’s EPS

0.41

Same Quarter Last Year

Analyst Consensus

Hold

Based on 11 Analysts Ratings

Earnings Call Summary

Q1 2026

Earnings Call Date:Jun 03, 2026|

% Change Since:

Earnings Call Sentiment|Positive

The call communicated broad-based operational momentum and tangible financial improvements: comparable sales growth across all nameplates, record Bloomingdale's performance, positive free cash flow and a raised full-year outlook. Management acknowledged headwinds from tariffs, fuel and select category softness (furniture and plus-size), and noted uncertainty around tariff refunds and macro conditions. On balance, the progress on the Bold New Chapter initiatives, beats to guidance, cash generation and raised guidance outweigh the listed challenges.

Company Guidance

Macy's said it is raising its full‑year outlook after a stronger‑than‑expected Q1 and provided updated targets: Q2 net sales of about $4.75–4.80B with comparable sales roughly flat to +1%, adjusted EBITDA of 6.9%–7.2% of total revenue and adjusted diluted EPS of $0.29–0.34 (noting tariffs + fuel are expected to subtract roughly $0.03–0.04 of EPS and 20–40 bps of gross margin; FY25 store closures added ~ $35M to Q2 sales). For fiscal 2026 the company now expects net sales of ~$21.5–21.75B (FY25 store closures ~ $145M contribution), comparable sales up ~0.5%–1.2%, other revenue of ~ $920M, gross margin of 38.4%–38.6% (roughly a 20–30 bp negative hit from tariffs and fuel), SG&A up ~1%–2% in dollars (rate roughly in line in Q2 and Q4, higher in Q3), adjusted EBITDA of 7.7%–7.9% of total revenue, interest expense of ~ $100M, and adjusted diluted EPS of $2.00–2.20 (assumes a ~$0.10–0.20 combined tariff + fuel impact); management noted the outlook reflects Q1 results (Q1 net sales $4.7B, +1.8%; comps +3.0%; adjusted EBITDA $290M/5.9% of revenue; adjusted EPS $0.13), that lower tariff assumptions largely offset higher fuel assumptions for a net‑neutral FY impact in the model, and that any tariff refund timing/amounts are excluded from guidance.

Comparable Sales Strength Across Enterprise

Macy's, Inc. delivered 3.0% comparable sales growth (3.1% go-forward), the company's strongest first quarter since 2022; all nameplates and channels were positive (Macy's +1.6%, Bloomingdale's +10.2%, Bluemercury +6.4%).

Net Sales and Total Revenue Growth

Net sales rose 1.8% to $4.7 billion (or +2.7% excluding ~$40M impact from non-go-forward store closures); total revenue increased 2.1% to $4.9 billion versus prior year.

Bloomingdale's Record Quarter

Bloomingdale's achieved a 10.2% comp and its highest first-quarter sales in the retailer's 154-year history, with broad-based channel and category strength.

Reimagine Program Momentum

Reimagine locations expanded to 200 stores (about 60% of go-forward Macy's stores, ~75% of 2025 Macy's store sales) and produced positive comps in 8 of the last 9 quarters; Reimagine comps grew 2.4% in Q1.

Adjusted EPS and EBITDA Above Guidance

Adjusted diluted EPS was $0.13, above the high end of prior guidance; adjusted EBITDA was $290 million (5.9% of total revenue), exceeding guidance range of 4.9%–5.1%.

Improved Cash Flow and Stronger Balance Sheet

Operating cash flow was an inflow of $292 million (vs. outflow of $64 million prior year) and free cash flow was +$140 million (vs. -$203 million prior year). Cash on hand ended at $1.3 billion (vs. $932 million prior year).

Other Revenue and Credit Performance

Other revenue grew to $210 million (+8% YoY); credit card revenue rose 12% to $172 million, reflecting a healthy credit portfolio and reduced net credit losses.

Strategic Product, Brand and Digital Initiatives

Introduced new brands and expanded brand distribution (e.g., Rotie's, Donna Karan Weekend, Ted Baker Men's); launched Ask Macy's AI conversational shopping assistant (early positive response); China distribution facility automation ramping.

Returned Capital to Shareholders and Buyback Capacity

Returned $100 million in Q1 ($50M dividend, $50M repurchases) and have approximately $1.1 billion remaining under buyback authorization.

Raised Full-Year Guidance

Company raised full-year outlook: net sales now expected $21.5B–$21.75B, comparable sales +0.5% to +1.2%, adjusted diluted EPS $2.00–$2.20 and adjusted EBITDA 7.7%–7.9% of total revenue.

Macy's (M) Earnings, Revenues Date & History

The upcoming earnings date is based on a company’s previous reporting, and may be updated when the actual date is announced

Daily Earnings Calendar >

M Earnings History

Report Date	Fiscal Quarter	Forecast / EPS	Last Year's EPS	EPS YoY Change	Slides	Play Transcript
Aug 25, 2026	2026 (Q2)	0.35 / -	0.41	―	―	―
Jun 03, 2026	2026 (Q1)	0.03 / 0.13	0.16	-18.75% (-0.03)
Mar 18, 2026	2025 (Q4)	1.57 / 1.67	1.8	-7.22% (-0.13)
Dec 03, 2025	2025 (Q3)	-0.13 / 0.09	0.04	125.00% (+0.05)
Sep 03, 2025	2025 (Q2)	0.19 / 0.41	0.53	-22.64% (-0.12)
May 28, 2025	2025 (Q1)	0.15 / 0.16	0.27	-40.74% (-0.11)
Mar 06, 2025	2024 (Q4)	1.54 / 1.80	2.45	-26.53% (-0.65)
Dec 11, 2024	2024 (Q3)	0.03 / 0.04	0.21	-80.95% (-0.17)
Aug 21, 2024	2024 (Q2)	0.32 / 0.53	0.26	103.85% (+0.27)
May 21, 2024	2024 (Q1)	0.17 / 0.27	0.56	-51.79% (-0.29)

The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.

Beat

Missed

M Earnings-Related Price Changes

Report Date	Price 1 Day Before	Price 1 Day After	Percentage Change
Jun 03, 2026	$21.67	$21.80	+0.60%
Mar 18, 2026	$16.92	$17.72	+4.73%
Dec 03, 2025	$22.29	$22.04	-1.10%
Sep 03, 2025	$13.10	$15.80	+20.68%

Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.