Macy`s Inc
Q1 2027 Earnings
Market Reaction
S&P 500 over the same 30 days: −0.87%.
Did M Beat Earnings? Q1 2027 Results
Macy's delivered a decisive beat in its fiscal first quarter of 2027, posting adjusted diluted EPS of $0.13 against a consensus estimate of $0.03, a 359.36% positive surprise that extended the retailer's streak of beating EPS estimates to nine consecutive quarters. Revenue of $4.89 billion topped the $4.61 billion consensus by 6.06% and rose 2.1% year-over-year, propelled by 3.0% comparable sales growth across all three nameplates, the strongest first-quarter comparable performance in four years. The clearest engine behind the results was Bloomingdale's, which posted 10.2% comparable sales growth, its seventh straight quarter of gains, while the broader Bold New Chapter strategy continued reshaping the portfolio through store investment and digital expansion. GAAP net income nearly doubled to $63.00 million from $38.00 million a year ago, and operating cash flow swung sharply positive to $292.00 million from negative $64.00 million. Building on the momentum, Macy's raised its full-year adjusted diluted EPS outlook to $2.00 to $2.20 and lifted its net sales guidance to $21.50 billion to $21.75 billion, even as management flagged heavier tariff pressure in the first half of the year.
- 3.0% comparable sales growth across all nameplates, strongest first quarter in four years
- Bloomingdale's delivered 10.2% comparable sales increase, marking seven consecutive quarters of gains
- Bluemercury comparable sales increased 6.4%
- Reimagine 200 locations achieved 2.4% comparable sales growth, leading Macy's nameplate performance
- Credit card revenues increased 11.7% driven by a healthy credit portfolio
- Bold New Chapter strategy continuing to build momentum
- Operating cash flow swung to $292 million from negative $64 million year-over-year
“We're off to a strong start to the year, exceeding expectations for the fifth consecutive quarter as our Bold New Chapter strategy continues to build momentum. Customers are responding – driving comparable sales growth at Macy's and another standout quarter at Bloomingdale's, underscoring its leadership in modern luxury. We're operating with discipline and focusing on what matters most – our customers. With the power of our multi-brand, multi-category, multi-generational portfolio, we're confident in our path to sustainable, profitable growth. And we're excited to continue our year of celebrations at Macy's, including the 50th anniversary of Macy's Fourth of July Fireworks, as we mark the nation's 250th.”
Macy's CEO, on the earnings call
Forward Guidance & Outlook
Macy's raised its full-year fiscal 2026 guidance. Net sales are now expected at $21.5 billion to $21.75 billion (previously $21.4 billion to $21.65 billion). Comparable sales growth is now projected at 0.5% to 1.2% (previously -0.5% to 0.5%). Adjusted EBITDA as a percent of total revenue remains at 7.7% to 7.9%. Adjusted diluted EPS is now expected at $2.00 to $2.20 (previously $1.90 to $2.10). Guidance assumes the first half of the year will have a larger tariff impact than the second half and does not include the potential receipt of tariff refunds. The company acknowledges macroeconomic and geopolitical factors that could influence discretionary spending and takes a prudent approach to guidance.
M YoY Financials
M Revenue by Segment
Figures from SEC filings and company reports. Not investment advice.