Macy’s announced financial results on Thursday that showed gains across its portfolio during its fiscal second quarter, prompting the company to increase its outlook for the remainder of the year. The retailer’s overall comparable sales increased 2.7%, with its namesake brand achieving 1.1% growth, primarily driven by redesigned store locations that are central to the company’s broader restructuring initiative.
The company’s premium-focused Bloomingdale’s division delivered particularly strong performance, posting a comparable sales increase of 11.3%, while the beauty-focused Bluemercury brand grew 6.2%. Chief Executive Tony Spring emphasized the transformation underway, stating that the company had improved its competitive position and investor appeal through strategic enhancements to store operations and customer experience.
Macy’s raised its full-year net sales projection to a range of $21.68 billion to $21.83 billion, up from prior guidance of $21.5 billion to $21.75 billion. The company also increased its comparable sales outlook to between 1% and 1.5% from the previous range of 0.5% to 1.2%, and elevated its full-year earnings per share guidance to $2.15 to $2.35 from $2 to $2.20.
The company reported receiving $116 million in tariff refunds and announced plans to invest approximately $96 million of that amount into customer experience enhancements and turnaround initiatives rather than temporary price reductions. For the fiscal second quarter specifically, Macy’s reported net income of $169 million compared with $87 million the prior year, while net sales rose to approximately $4.87 billion from $4.81 billion. Despite the positive financial updates, the company’s stock declined nearly 5% on Thursday.
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