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Macy's Boosts Annual Outlook as Turnaround Strategy Drives Q2 Growth
Retail Trade · Department Stores · cnbc · 2026-09-10
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Macy's reported second-quarter revenue of $4.87 billion and raised its full-year earnings guidance, citing strong performance across its retail brands.
What Happened
Quarterly Financial Performance: Macy's exceeded analyst expectations for the second fiscal quarter, reporting adjusted earnings per share of 40 cents on revenue of $4.87 billion. Net income saw a significant year-over-year increase, rising to $169 million from $87 million in the previous period.
Brand and Segment Growth: The company experienced broad-based growth, with Bloomingdale's comparable sales jumping 11.3% and Bluemercury rising 6.2%. Management attributed the positive momentum to the success of its "reimagined" store initiative, which has helped drive consistent top and bottom-line improvements over the last six quarters.
Strategic Outlook and Guidance: Reflecting confidence in its ongoing three-year turnaround plan, Macy's lifted its full-year net sales forecast to a range of $21.68 billion to $21.83 billion. The retailer also increased its annual earnings per share outlook to between $2.15 and $2.35, partially bolstered by recent tariff repayments.
Operational Investments: Macy's plans to reinvest approximately $96 million of the $116 million received in tariff refunds back into the business to enhance the customer experience. This capital allocation is a key component of CEO Tony Spring's strategy to maintain growth and operational stability despite a difficult macroeconomic environment for department stores.