Overview
- Third-quarter revenue reached $4.71 billion versus $4.62 billion expected, with adjusted earnings of $0.09 per share versus a projected loss.
- Companywide comparable sales rose about 3.2% for the strongest gain in 13 quarters, led by Bloomingdale’s near 9% and Bluemercury up 1.1%, as Reimagine 125 stores climbed 2.7%.
- Macy’s raised full-year guidance to $21.475–$21.625 billion in net sales and $2.00–$2.20 in adjusted EPS, and now forecasts flat to 0.5% comparable sales growth.
- CEO Tony Spring described a prudent holiday view with consumers staying choiceful and tougher year-over-year comparisons, while tariffs reduced Q3 gross margin by roughly 50 basis points despite mitigation efforts.
- The Bold New Chapter strategy continues with plans to close about 150 Macy’s stores and expand Bloomingdale’s and Bluemercury, contributing to an estimated $700 million annual sales drag from recent closures.