Macy's (M) earnings Q1 2026
CNBC • • general
Key Points:
- Macy's reported its strongest first-quarter comparable sales growth in four years, with a 3% overall increase and 1.6% growth at its flagship stores, driven by upgrades to 200 reimagined stores.
- Bloomingdale's comparable sales surged 10.2%, aided by popular brands, a unique luxury shopping experience, and the bankruptcy of rival Saks Fifth Avenue, according to CEO Tony Spring.
- The company raised its full-year 2026 guidance, expecting net sales between $21.5 billion and $21.75 billion and earnings per share of $2 to $2.20, reflecting better-than-expected sales and profitability.
- Macy’s turnaround strategy, now two years in, focuses on improving retail fundamentals such as staffing, product assortment, and customer experience rather than flashy initiatives, contributing to steady consumer demand despite macroeconomic uncertainties.
- For the quarter ending May 2, Macy's reported net income of $63 million and revenue of $4.68 billion, slightly surpassing analyst expectations, with ongoing positive sales trends continuing into the second quarter.