Macy's rises after raising annual forecasts

Macy's

10/09/2026 12:04

** Shares of Macy's M.N gained ~3% to $22.06 premarket
** The department store operator raises annual forecasts after an upbeat quarter
** Resilient spending by wealthier shoppers drives growth at upscale banners such as Bloomingdale's and Bluemercury
** Macy's now expects fiscal 2026 net sales of $21.68 billion to $21.83 billion, compared to prior view of $21.50 billion to $21.75 billion 
** Sees adj. EPS of $2.15 to $2.35 vs prior target of $2.00 to $2.20 
** Q2 sales of $4.87 billion beat analysts' estimates of $4.83 billion - data compiled by LSEG
** Q2 adj. EPS came in at 63 cents, including a 23-cent contribution from tariff refunds 
** Up to last close, stock down ~2% YTD

 (Reporting by Shania S Thomas in Bengaluru)
 ((shanias.thomas@thomsonreuters.com))