Macy's Reports $87M Q2 Earnings, Raises 2025 Outlook

Macy's Inc. reported better-than-expected fiscal second-quarter earnings, with adjusted earnings per share of 41 cents surpassing analyst estimates of 19 cents and revenue exceeding projections at $5 billion. Despite a 2.5% decline in net sales due to over 60 store closures under CEO Tony Spring's turnaround 'Bold New Chapter' strategy, comparable sales increased 1.9%, marking the best growth in 12 quarters driven by improvements in Macy's 're-imagined' stores, as well as strong performances at Bloomingdale's and Bluemercury. Bloomingdale's saw a 5.7% rise in comparable sales, its fourth consecutive quarter of growth, while Bluemercury also posted gains. Macy's raised its sales and profit guidance for 2025, anticipating third-quarter earnings per share between $1.70 and $2.05 and revenue ranging from $21.15 billion to $21.45 billion. The company’s multi-brand, multi-category strategy appears to be contributing positively to its financial performance despite overall stock declines earlier in the year.