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Q1 25 EPS
$0.27
BEAT +80.00%
Est. $0.15
Q1 25 Revenue
$5.00B
BEAT +2.85%
Est. $4.86B
vs S&P Since Q1 25
-2.6%
TRAILING MARKET
M +37.8% vs S&P +40.3%
Market Reaction
Did M Beat Earnings? Q1 2025 Results
Macy's delivered a stronger-than-expected first quarter, posting adjusted diluted EPS of $0.27 against a consensus estimate of $0.15, an 80% beat, even as the retailer navigated a consumer environment where discretionary spending remained under press… Read more Macy's delivered a stronger-than-expected first quarter, posting adjusted diluted EPS of $0.27 against a consensus estimate of $0.15, an 80% beat, even as the retailer navigated a consumer environment where discretionary spending remained under pressure. Revenue of $5.00 billion edged past the $4.86 billion consensus by 2.85%, though it still fell 3.3% from the prior-year period, reflecting the ongoing headwinds facing department store retail. The key driver behind the earnings beat was early traction in Macy's "A Bold New Chapter" strategy, particularly at its First 50 priority locations, where comparable owned sales grew 3.3%, a meaningful contrast to the broader Macy's nameplate, which posted a 1.6% owned comparable sales decline. Gross margin slipped 80 basis points to 39.2%, partly due to markdowns on slow-moving warm weather merchandise. Looking ahead, management narrowed its full-year adjusted diluted EPS guidance to $2.55 to $2.90 and characterized 2024 as a transition year, with net sales expected in the range of $22.30 billion to $22.90 billion.
Key Takeaways
- • First 50 locations achieved 3.3% owned comparable sales growth, leading the Macy's nameplate turnaround
- • Bluemercury posted 4.3% owned comparable sales growth
- • Bloomingdale's comparable owned sales up 0.8%
- • Macy's Media Network revenue grew $8 million to $37 million from increased vendor engagement
- • Delivery expense as a percent of net sales improved 20 basis points from supply chain efficiency efforts
- • SG&A expense dollars decreased $39 million from ongoing expense discipline
M YoY Financials
Q1 2025 vs Q1 2024, source: SEC Filings
M Revenue by Segment
With YoY comparisons, source: SEC Filings
“We are encouraged by our customers' response to our Bold New Chapter strategy resulting in sales near the high end of our outlook. Our teams executed with discipline and efficiency, which contributed to first quarter earnings that exceeded our expectations.”
— Tony Spring, Q1 2025 Earnings Press Release
M Earnings Trends
M vs Market 30 Day Price Reactions
30-day stock return vs benchmark after each earnings
M EPS Trend
Earnings per share: estimate vs actual
M Revenue Trend
Quarterly revenue: estimate vs actual
M Quarterly Results
11 quarters of earnings data
| Quarter | EPS Est. | EPS Act. | Surprise | Revenue | Rev. Surprise |
|---|---|---|---|---|---|
| Q1 27 BEAT | $0.03 | $0.13 | +359.36% | $4.89B | +6.06% |
| Q4 26 BEAT FY | $1.56 | $1.67 | +6.85% | $7.92B | +5.43% |
| FY Full Year | $2.20 | $2.32 | +5.29% | $22.62B | +4.57% |
| Q3 26 BEAT | $-0.13 | $0.09 | +168.18% | $4.91B | +7.78% |
| Q2 26 BEAT | $0.19 | $0.41 | +119.72% | $5.00B | +6.31% |
| Q1 26 BEAT | $0.15 | $0.16 | +6.60% | $4.79B | +8.26% |
| Q4 25 BEAT FY | $1.54 | $1.80 | +16.68% | $8.01B | +3.24% |
| FY Full Year | — | $2.64 | — | $23.01B | — |
| Q3 25 BEAT | $0.03 | $0.04 | +58.73% | $4.90B | +3.91% |
| Q2 25 BEAT | $0.30 | $0.53 | +76.67% | $5.10B | -0.44% |
| Q1 25 BEAT | $0.15 | $0.27 | +80.00% | $5.00B | +2.85% |
| Q4 24 BEAT FY | $1.96 | $2.45 | +25.00% | $8.38B | +2.71% |
| FY Full Year | — | $3.50 | — | $23.87B | — |
| Q3 24 | — | — | — | $4.74B | — |