Macy's lifts annual forecast as luxury banners thrive under CEO turnaround

Second-quarter sales rose 1.1% to $4.87 billion, topping analysts' estimate of $4.83 billion, while adjusted profit of 40 cents per share, excluding tariff refunds of 23 cents per share, beat an expectation of 37 cents per share, according to data compiled by LSEG.

Comparable sales at Bloomingdale's rose 11.3%, while Bluemercury's increased 6.2%, compared with a 1.1% rise at Macy's label stores.

"The namesake banner remains a work in progress, but five consecutive quarters of (comparable sales) growth show Macy's is building momentum beyond the strength of Bloomingdale's and Bluemercury," eMarketer analyst Suzy Davidkhanian said.

Macy's now expects fiscal 2026 net sales between $21.68 billion and $21.83 billion, compared with its prior forecast of $21.50 billion to $21.75 billion. It also sees annual adjusted earnings per share of $2.15 to $2.35, compared with its previous forecast of $2.00 to $2.20 per share.