Macy's Beats Q2, Raises Guidance — Stock Falls Anyway — SkimNews
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- Macy's beat Q2 estimates with adjusted EPS of 40 cents vs. 37 cents expected and revenue of $4.87B vs. $4.83B expected, while net income nearly doubled to $169M from $87M a year earlier.
- Bloomingdale's led the quarter with 11.3% comparable sales growth, while Bluemercury rose 6.2% and the namesake brand posted just 1.1% comparable gains; total comparable sales rose 2.7%.
- Macy's raised full-year net sales guidance to $21.68B–$21.83B, lifted its comparable sales outlook to 1%–1.5% growth, and boosted EPS guidance to $2.15–$2.35 from $2–$2.20.
- The retailer cited $116M in tariff refunds as a roughly 5-cent EPS tailwind, with about $96M slated for customer-experience investments rather than temporary price cuts.
- Despite the beat, Macy's shares slipped in morning trading — a contrast the source flags against CEO Tony Spring's description of a "healthier position."
- Spring said the company is seeing consumer "bifurcation," with discretionary shoppers engaging in fashion while budget-constrained customers lean into value and off-price channels.
Why it matters: Macy's cleared Q2 estimates and raised guidance across net sales, comparable sales, and EPS, yet shares slipped — a split that exposes investor skepticism as the three-year turnaround plan nears its end. Bloomingdale's 11.3% comparable gain carried the quarter while the namesake brand managed only 1.1%.
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