Macy's hikes guidance as turnaround gains pace

10th Sep 2026 12:10

(Sharecast News) - US department store retailer Macy's delivered further signs of progress in its turnaround on Thursday as it posted second‑quarter sales growth across all banners and hiked its full‑year guidance.

Macy's said comparable sales rose 2.7%, with the core Macy's chain up 1.1%, driven by its revamped "reimagined" stores, while higher‑end banner Bloomingdale's saw an 11.3% jump in comparable sales, and beauty retailer Bluemercury saw sales rose 6.2%.

Net sales for the quarter edged up to $4.87bn from $4.81bn a year earlier, while net income increased to $169m, or $0.62 per share, from $87m or $0.31 previously. Adjusted earnings came in at $0.40 per share.

As a result, Macy's raised its full‑year outlook, now expecting net sales of $21.68bn to $21.83bn, up from prior guidance of $21.5bn to $21.75bn. Comparable sales were now forecast to rise 1% to 1.5%, compared with a previous range of 0.5% to 1.2% and full‑year earnings per share were now projected to come in at $2.15 to $2.35, including a $0.05 benefit from tariff repayments.

Macy's said it has received $116m in tariff refunds so far, with around $96m earmarked for customer‑experience improvements and its broader turnaround plan.

As of 1320 BST, Macy's share were down 1.39% in pre-market action at $21.21 each.

Reporting by Iain Gilbert at Sharecast.com