Macy's Forecasts $4.63B Q1 Sales, Extends Store Closures to 2028
Macy's forecasts Q1 net sales up to $4.63 billion and 1.5% comparable sales, with Bloomingdale's comps up nearly 10% and Bluemercury rising 1.3%. It projects full-year adjusted EPS of $1.90–$2.10 and up to 0.5% comps, and will close 150 underperforming stores through 2028 while citing tariffs and geopolitical risks.
1. First-Quarter Outlook
Macy's projected first-quarter net sales up to $4.63 billion, with comparable sales growth of up to 1.5%, surpassing consensus estimates and reflecting stronger spending among higher-income consumers.
2. Banner Performance
Bloomingdale's achieved nearly 10% comparable sales growth, driven by shifting luxury demand, while Bluemercury saw a 1.3% rise in comps, underscoring resilience in beauty and premium categories.
3. Full-Year Guidance
The company forecast adjusted earnings per share of $1.90 to $2.10 and comparable sales growth up to 0.5%, adopting a cautious outlook due to potential headwinds from tariffs, fuel costs and geopolitical tensions.
4. Store Closure Plan
Macy's will close 150 underperforming stores through 2028, reallocating resources to stronger locations and monetizing real estate as part of its ongoing turnaround strategy.