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Nov 01
Macy's Q3 2025 Earnings Report
Macy’s exceeded expectations on EPS and sales, reporting strong comp sales growth across brands.
Key Takeaways
Macy's delivered its strongest comparable sales growth in over three years, with Bloomingdale’s and digital channels driving performance. EPS and revenue both surpassed guidance.
Adjusted EPS of $0.09 exceeded guidance, while GAAP EPS came in at $0.04.
Net sales reached $4.71 billion, driven by Bloomingdale’s and Reimagine 125 locations.
Net income was $11 million, with adjusted net income at $26 million.
The company returned $99 million to shareholders via dividends and buybacks.
Macy's
Macy's
Macy's Revenue by Segment
Macy's Revenue by Geographic Location
Revenue by Segment
Credit Card Revenue
CapyFin.comMedia Network Revenue
CapyFin.comRevenue by Geographic Location
United States Revenue
CapyFin.com Forward Guidance
Full-year guidance was raised, with improved expectations for sales and adjusted EPS, reflecting strong Q3 performance and holiday readiness.
Positive Outlook
- Raised full-year net sales guidance to $21.475–$21.625 billion.
- Raised adjusted EPS guidance to $2.00–$2.20.
- Improved outlook for comparable sales across all nameplates.
- Strength in go-forward stores and digital expected to continue.
- Tariff mitigation actions seen as effective going forward.
Challenges Ahead
- Continued cautious consumer behavior expected in Q4.
- Tariffs still pose pressure on gross margin.
- Lower expected asset sale gains vs. previous guidance.
- FY net sales still impacted by 2024 store closures.
- Holiday spending outlook remains uncertain despite strong setup.
Revenue & Expenses
Visualization of income flow from segment revenue to net income