Macy’s Delivers 3% Q1 Comp Sales Growth, Ups FY Net Sales to $21.5–21.75B
M•Macy’s reported Q1 revenue of $4.89 billion and adjusted EPS of $0.13, beating consensus by $280 million and $0.10 respectively, while delivering 3% comparable sales growth versus –2% last year. Management raised full-year net sales outlook to $21.5–21.75 billion and EPS guidance to $2.00–2.20, citing staffing improvements and optimized merchandise assortment.
1. Q1 Financial Performance
Macy’s achieved first-quarter revenue of $4.89 billion, surpassing the $4.61 billion consensus, and posted adjusted EPS of $0.13 versus the $0.03 estimate. The beat was driven by stronger margins and higher traffic across core department stores.
2. Comparable Sales and Operational Drivers
Comparable sales rose 3% year-over-year, reversing a 2% decline in the prior period. Management attributed the turnaround to improved staffing levels and a more curated merchandise assortment that resonated with middle- to upper-income shoppers.
3. Updated Full-Year Guidance
Macy’s raised its full-year net sales forecast to $21.5–21.75 billion from $21.4–21.65 billion and lifted adjusted EPS guidance to $2.00–2.20 from $1.90–2.10. The move reflects confidence in demand resilience despite anticipated tariff headwinds in H1.
4. Stock Performance and Short Interest
The stock has climbed 10% over the past month and 91.4% over 12 months, trading near January highs. With 12.89% of the float sold short—equating to nearly five days of buy volume—a short squeeze could add upward pressure on the shares.
