Macy's Q1 sales rise on Bloomingdale's growth, raises full-year outlook

Macy's

03/06/2026 12:03

Overview
US department store retailer's Q1 sales rose 1.8% yr/yr, with 3.0% comparable sales growth
Adjusted EPS for Q1 increased to $0.13 from $0.11 a year ago
Company repurchased $50 mln of shares during the quarter

Outlook
Macy's raises 2026 net sales outlook to $21.5 bln-$21.75 bln from $21.4 bln-$21.65 bln
Company now sees 2026 comparable sales rising 0.5%-1.2%, up from (0.5%)-0.5% previously
Macy's expects 2026 adjusted diluted EPS of $2.00-$2.20, up from $1.90-$2.10 prior

Result Drivers
BLOOMINGDALE'S GROWTH - Bloomingdale's comparable sales rose 10.2%, marking record Q1 sales and leading company performance
REIMAGINE 200 STORES - Macy's cited sales gains at Reimagine 200 locations and ongoing investments in these stores as key drivers
CREDIT CARD REVENUE - Higher credit card net revenues contributed to other revenue growth, supported by a healthy credit portfolio

Company press release: ID:nBwbnvLHba

Key Details
Metric
Beat/Miss
Actual
Consensus Estimate
Q1 Sales
 
$4.68 bln
 
Q1 Adjusted EPS
 
$0.13
 
Q1 EPS
 
$0.23
 
Q1 Net Income
 
$63 mln
 

Analyst Coverage
The current average analyst rating on the shares is "hold" and the breakdown of recommendations is 2 "strong buy" or "buy", 10 "hold" and 1 "sell" or "strong sell"
The average consensus recommendation for the department stores peer group is "buy."
Wall Street's median 12-month price target for Macy's Inc is $20.00, about 7.7% below its June 2 closing price of $21.67
The stock recently traded at 10 times the next 12-month earnings vs. a P/E of 9 three months ago

For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)