Macy's jumps on upbeat annual forecasts

Macy's

03/06/2026 11:58

** Shares of department store operator Macy's M.N up 6% at $22.97 premarket
** Co raises its annual forecasts and posts first quarterly sales growth in nearly four years, helped by strong demand for luxury goods, particularly at its Bloomingdale’s outlets
** Expects 2026 net sales of $21.5 billion to $21.75 billion, compared with its prior forecast of $21.4 billion to $21.65 billion
** Sees annual adjusted profit of $2 to $2.20 per share, compared with its earlier forecast of $1.90 to $2.10 per share
** Q1 sales rose 1.8% to $4.68 billion, slightly beating analysts' average estimate of $4.61 billion-data compiled by LSEG
** Q1 adjusted EPS came in at 13 cents
** As of last close, stock down ~2% YTD 

 (Reporting by Koyena Das from Bengaluru)
 ((Koyena.das@thomsonreuters.com))