Macy’s Raises Full-Year Guidance After Strong Second-Quarter Results
- reported fiscal second-quarter 2026 financial results on Thursday, posting net sales of $4.9 billion and raising its full-year earnings guidance.
- The retailer's top-line growth was supported by gains across all primary nameplates during the quarter ending in 2026.
- Macy’s reported a GAAP diluted earnings per share of $0.62, doubling compared to the previous year.
Macy’s Inc. reported fiscal second-quarter 2026 financial results on Thursday, posting net sales of $4.9 billion and raising its full-year earnings guidance. According to the company’s earnings release, net sales increased 1.1% compared to the same period last year, while comparable sales rose 2.7% across the enterprise.
Quarterly Sales Growth Driven by Core Nameplates
The retailer’s top-line growth was supported by gains across all primary nameplates during the quarter ending in 2026. According to Macy’s Inc., go-forward comparable sales increased 2.8%. Bloomingdale’s led brand performance with an 11.3% increase in comparable sales, achieving the highest second-quarter sales volume in the brand’s history. Meanwhile, Bluemercury posted a 6.2% increase in comparable sales, and Macy’s brand comparable sales grew 1.1%, aided by a 1.9% increase at Reimagine 200 locations.
Earnings, Margins, and Tariff Impacts
Macy’s reported a GAAP diluted earnings per share of $0.62, doubling compared to the previous year. Adjusted diluted EPS reached $0.63, marking a 14% increase excluding a net tariff refund benefit of $0.23 per share. Total gross margin rate for the quarter climbed to 41.5%, an increase of 180 basis points that included the impact of net tariff refunds offset slightly by ongoing fuel and tariff costs. According to corporate filings, selling, general, and administrative expenses decreased 20 basis points as a percentage of total revenue to 38.7%. Total SG&A expenses rose to $1.96 billion, reflecting variable costs tied to net sales growth and investments in the retailer’s Bold New Chapter strategy. Other revenue grew by $3 million in credit card net revenues to reach $156 million, and Macy’s Media Network net revenue rose 8.8% to $37 million.
Executive Strategy and Guidance Updates
Our second-quarter performance builds on the progress our colleagues have consistently delivered through our Bold New Chapter strategy. The investments we’re making are driving results across our portfolio, from the continued outperformance of our Reimagine 200 Macy’s stores, to meaningful double-digit growth at Bloomingdale’s and another solid quarter at Bluemercury.
Tony Spring, Macy’s Inc. With the positive momentum from the first half of the fiscal year, leadership raised its annual guidance, though specific figures for the updated full-year forecast accompanied the earnings announcement. The company stated it remains focused on scaling strong brands, assortments, and customer experiences heading into the second half of the year.