Macy’s, Inc. reported second quarter 2026 results that surpassed analyst expectations across both top and bottom lines, driven by continued momentum in its "Bold New Chapter" turnaround strategy. Net sales reached $4.87 billion, up 1.1% year-over-year, while adjusted diluted EPS of $0.63 significantly exceeded the $0.37 consensus. Performance was bolstered by a 2.7% increase in enterprise-wide comparable sales, marking the fifth consecutive quarter of growth.
Key Highlights
- Enterprise-wide comparable sales growth of 2.7% beat the high end of management's previously projected flat to 1.0% range.
- Luxury nameplates demonstrated significant strength, with Bloomingdale’s achieving its highest second-quarter volume in history and 11.3% comparable sales growth.
- Reimagine 200 Macy’s stores outperformed the broader chain with a 1.9% comp increase, compared to the nameplate's overall 1.1% growth.
- Management raised full-year 2026 adjusted EPS guidance to a range of $2.15 to $2.35, up from the previous $2.00 to $2.20 outlook.