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May 03, 2025
Macy's Q1 2025 Earnings Report
Macy's reported earnings for Q1 2025.
Key Takeaways
Macy's delivered results above guidance with strong performance from Bloomingdale’s and Bluemercury, despite ongoing sales declines at Macy’s nameplate and continued store closures.
Net sales reached $4.6 billion, exceeding guidance.
Adjusted EPS of $0.16 surpassed expectations.
Net income came in at $38 million.
Reimagine 125 locations outperformed the rest of Macy’s fleet.
Revenue by Segment
Forward Guidance
Macy’s reaffirmed annual net sales guidance but revised downward its adjusted EPS and EBITDA outlooks, reflecting a cautious stance amid macroeconomic headwinds.
Positive Outlook
- Annual net sales guidance unchanged at $21.0B to $21.4B
- Comparable sales expected to decline by 0.5% to 2.0%
- Go-forward business comp sales expected flat to -2.0%
- Reaffirmed confidence in Bold New Chapter strategy
- Healthy balance sheet with $2B borrowing capacity
Challenges Ahead
- Adjusted EPS guidance lowered to $1.60–$2.00 from $2.05–$2.25
- Adjusted EBITDA margin guidance lowered to 7.4%–7.9%
- Core Adjusted EBITDA margin also revised down to 7.0%–7.5%
- Macroeconomic uncertainty and promotional intensity cited
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
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