Q3 25 EPS
$0.04
BEAT +58.73%
Est. $0.03
Q3 25 Revenue
$4.90B
BEAT +3.91%
Est. $4.72B
vs S&P Since Q3 25
+35.8%
BEATING MARKET
M +58.5% vs S&P +22.6%
Market Reaction
Did M Beat Earnings? Q3 2025 Results
Macy's delivered a modest beat in its fiscal third quarter, posting adjusted diluted EPS of $0.04 against a consensus estimate of $0.03 for a 58.73% beat, while revenue of $4.90 billion topped expectations by 3.91%, though it still fell 2.7% from a y… Read more Macy's delivered a modest beat in its fiscal third quarter, posting adjusted diluted EPS of $0.04 against a consensus estimate of $0.03 for a 58.73% beat, while revenue of $4.90 billion topped expectations by 3.91%, though it still fell 2.7% from a year ago. The quarter was dominated by the fallout from an internal accounting scandal, in which a single employee was found to have concealed approximately $151.00 million in cumulative delivery expenses over nearly three years; while the company determined no restatements of previously filed financials were required, a $13.00 million delivery expense adjustment burdened Q3 gross margin by roughly 30 basis points. Beneath the noise, Macy's "Bold New Chapter" strategy offered selective encouragement, with its First 50 locations posting a third consecutive quarter of comparable sales growth and Bluemercury extending its positive comp streak to fifteen quarters. Looking ahead, the company guided full-year net sales of $22.30 billion to $22.50 billion and adjusted diluted EPS of $2.25 to $2.50, with quarter-to-date comparable sales trending ahead of Q3 levels across the portfolio.
Key Takeaways
- • Macy's First 50 locations delivered third consecutive quarter of comparable sales growth, up 1.9%
- • Bloomingdale's comparable sales growth of 3.2% on owned-plus-licensed-plus-marketplace basis driven by contemporary apparel, beauty and digital
- • Bluemercury comparable sales growth of 3.3%, fifteenth consecutive quarter of positive comps, driven by skincare offerings
- • Fragrances, dresses and men's and women's active apparel were strong categories at Macy's
- • Macy's Media Network revenue rose 13.9% reflecting higher advertiser and campaign counts
- • Asset sale gains of $66 million from monetization of non-go-forward assets
M YoY Financials
Q3 2025 vs Q3 2024, source: SEC Filings
M Revenue by Segment
With YoY comparisons, source: SEC Filings
“Our third quarter results reflect the positive momentum we are building through our Bold New Chapter strategy. We are encouraged by the consistent sales growth in our Macy's First 50 locations and the strong performance of Bloomingdale's and Bluemercury. Quarter-to-date, comparable sales continue to trend ahead of third quarter levels across the portfolio. Looking ahead, we remain committed to achieving sustainable, profitable growth for Macy's, Inc.”
— Tony Spring, Q3 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 | — |