Macy's Raises 2026 Outlook After 3% Q1 Comparable Sales Growth, Its Best in 4 Years
Updated
Updated · CNBC · Jun 3
Macy's Raises 2026 Outlook After 3% Q1 Comparable Sales Growth, Its Best in 4 Years
3 articles · Updated · CNBC · Jun 3
Summary
Macy's lifted full-year guidance after first-quarter sales and profit beat expectations, with revenue rising 2% to $4.68 billion and net income increasing to $63 million from $38 million a year earlier.
Comparable sales grew 3% overall—the chain's strongest first-quarter gain in four years—helped by 200 upgraded stores, while the Macy's banner rose 1.6% and Bloomingdale's jumped 10.2%.
The retailer now expects 2026 net sales of $21.5 billion to $21.75 billion and adjusted EPS of $2 to $2.20, up from prior ranges of $21.4 billion to $21.7 billion and $1.90 to $2.10.
CEO Tony Spring said tax refunds aided demand but were not the main driver, adding that first-quarter trends have continued into the second quarter despite macroeconomic and geopolitical uncertainty.
The results bolster Macy's roughly two-year-old turnaround, which has focused on closing weak stores and reinvesting in retained locations through staffing, merchandising and customer experience.