Street View: Macy's finds momentum in upscale brands

Macy's

11/09/2026 18:46

** Shares of Macy's M.N up ~4% at $21.33 in afternoon trading
** The department store raised its forecasts on Thursday as affluent shoppers continued to spend at Bloomingdale's and Bluemercury, though reinvestment of tariff refunds into growth initiatives pressured its current-quarter earnings outlook
** Median PT of 14 brokerages covering the stock is $23.50, according to data compiled by LSEG
     
PREMIUMIZATION STRATEGY WORKS
** Jefferies ("buy", PT: $26) says Macy's strong quarter and raised outlook were driven by continued momentum at Bloomingdale's and improving performance at the Macy's banner, while tariff-refund reinvestment is masking underlying earnings strength in the second half
** J.P. Morgan ("neutral", PT: $27) says co's conservative third-quarter outlook leaves room for upside, citing stronger-than-guided sales trends, momentum at reimagined stores and continued strength at Bloomingdale's
** TD Cowen ("hold", PT: $25) says broad-based growth across Bloomingdale's and Bluemercury shows momentum remains intact, and views management's decision to reinvest tariff refunds into growth initiatives positively
** BTIG ("neutral") says Macy's premiumization strategy is gaining traction, with higher-priced brands, stronger assortments and rising average selling prices helping drive sales and profitability

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