Key facts
- Macy's raised its annual sales and profit forecasts.
- Strong performance at Bloomingdale's and Bluemercury drove growth.
- Second-quarter sales rose 1.1% to $4.87 billion.
- Bloomingdale's comparable sales increased 11.3%, and Bluemercury's grew 6.2%.
- Macy's namesake stores reported 1.1% comparable sales growth.
- The company now forecasts fiscal 2026 net sales between $21.68 billion and $21.83 billion.
Macy's raised its annual sales and profit forecasts on Thursday, driven by strong spending at its upscale Bloomingdale's and Bluemercury chains. The company's "Bold New Chapter" strategy, led by CEO Tony Spring, emphasizes premium businesses and higher-margin products.
Second-quarter sales increased 1.1% to $4.87 billion, surpassing analyst expectations. Bloomingdale's comparable sales grew 11.3%, while Bluemercury's comparable sales rose 6.2%. Macy's namesake stores saw comparable sales increase by 1.1%.
The company now anticipates fiscal 2026 net sales between $21.68 billion and $21.83 billion, an upward revision from its previous outlook. The adjusted earnings per share forecast was also revised to $2.15 to $2.35. These forecasts incorporate macroeconomic and geopolitical uncertainties, alongside $116 million in tariff refunds that added 23 cents per share to second-quarter earnings.