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Aug 02, 2025
Macy's Q2 2025 Earnings Report
Macy's exceeded EPS and sales guidance and reported its strongest comparable sales growth in three years.
Key Takeaways
Macy's delivered strong second quarter results with net sales and adjusted EPS exceeding expectations. Positive performance was driven by strength in Bloomingdale’s, Bluemercury, and Reimagine 125 stores.
Adjusted EPS of $0.41 exceeded guidance.
Net sales reached $4.8 billion despite store closures.
Net income was $87 million and operating income was $149 million.
Strong performance across Bloomingdale’s, Bluemercury, and Reimagine 125 locations.
Revenue by Segment
Revenue by Geographic Location
Forward Guidance
Macy’s raised full-year sales and adjusted EPS guidance, reflecting better-than-expected Q2 results and confidence in the Bold New Chapter strategy.
Positive Outlook
- Raised full-year net sales guidance to $21.15B–$21.45B.
- Raised adjusted EPS guidance to $1.70–$2.05.
- Improved sales outlook for owned-plus-licensed-plus-marketplace channels.
- Strong liquidity with $2.0B available credit and $829M in cash.
- No material long-term debt maturities until 2030.
Challenges Ahead
- Gross margin pressured by markdowns and tariffs.
- SG&A expense rose as a percent of revenue due to lower sales.
- Sales decline of 2.5% YoY due to store closures.
- Adjusted EBITDA declined YoY from $438M to $393M.
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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