Macy's falls as downbeat quarterly view clouds annual forecast boost
M•Stock performance
Up to the last close, the stock was down about 2% year to date.
Raised annual targets and quarterly results
Macy's said it expects an adjusted loss of 19 cents to 23 cents per share, compared with analysts' estimates of a 6-cent loss, according to data compiled by LSEG.
The company raised its fiscal 2026 net sales estimate to $21.68 billion to $21.83 billion, from $21.50 billion to $21.75 billion, and sees adjusted EPS of $2.15 to $2.35, versus its prior target of $2.00 to $2.20.
It also beat second-quarter sales and profit estimates.
Shares reverse gains after current-quarter loss view
Shares of Macy's M reversed gains to drop about 4% to $20.65 in premarket trading after the department store issued a bigger-than-expected current-quarter loss forecast.
The outlook was linked to turnaround-fueled increased store investments and overshadowed raised annual targets.
