Macy's posted broad-based growth in its fiscal second quarter as its turnaround leans on overhauled reimagined stores. Company-wide comparable sales rose 2.7%. By banner, comps at the Macy's nameplate increased 1.1%, Bloomingdale's jumped 11.3%, and Bluemercury advanced 6.2%.
Revenue came in at about $4.87 billion, topping the $4.83 billion expected by analysts surveyed by LSEG and edging up from $4.81 billion a year earlier. Adjusted earnings per share were 40 cents, ahead of the 37 cents analysts anticipated. Shares slipped slightly in morning trading despite the beat.
"I think it's a different Macy's Inc. today," CEO Tony Spring told CNBC. "We're in a healthier position. We're catering to our customers while we're also becoming a more interesting investment option for our shareholders."
Macy's raised its full-year outlook. It now expects net sales of $21.68 billion to $21.83 billion, up from $21.5 billion to $21.75 billion. The comparable sales growth range moved to 1% to 1.5%, from 0.5% to 1.2%. The outlook for earnings per share is $2.15 to $2.35, increased from $2 to $2.20, and it factors in about a 5-cent per-share benefit from tariff repayments.
The retailer said it has received $116 million in tariff refunds and plans to allocate about $96 million toward customer experience and the broader turnaround rather than short-term price cuts.
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For your budget, the takeaway is simple: Macy's is plowing extra cash into the shopping experience rather than one-off discounts. If those upgraded stores keep pulling in customers, the company's steadier footing could matter more than the day-to-day stock moves.
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