Macy's raises annual targets as Bloomingdale's drives growth

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 outlook of $2.00 to $2.20 per share.

The company said its forecasts reflect macroeconomic and geopolitical uncertainties that could affect consumer spending, as well as the benefits of tariff refunds.

Second-quarter sales rose 1.1% to $4.87 billion, topping analysts' estimate of $4.83 billion, according to data compiled by LSEG.

Comparable sales at Bloomingdale's, which sells luxury apparel, footwear and accessories, rose 11.3%. Those at Bluemercury, which sells beauty and skincare products, grew 6.2%, compared with a 1.1% increase at Macy's namesake stores.

Adjusted quarterly profit rose 80% to 63 cents per share. Macy's said tariff refunds contributed 23 cents per share to earnings and that it has received $116 million in refunds so far.