Stock Market Live July 2, 2026: S&P 500 (SPY) Flat with New Jobs Data
Q2 26 EPS
$0.41
BEAT +119.72%
Est. $0.19
Q2 26 Revenue
$5.00B
BEAT +6.31%
Est. $4.70B
vs S&P Since Q2 26
+33.0%
BEATING MARKET
M +48.2% vs S&P +15.2%
Market Reaction
Did M Beat Earnings? Q2 2026 Results
Macy's delivered a strong second-quarter beat, with adjusted diluted EPS of $0.41 clearing the $0.19 consensus estimate by 119.72% and revenue of $5.00 billion topping expectations by 6.31%, even as total sales slipped 1.9% year over year, weighed do… Read more Macy's delivered a strong second-quarter beat, with adjusted diluted EPS of $0.41 clearing the $0.19 consensus estimate by 119.72% and revenue of $5.00 billion topping expectations by 6.31%, even as total sales slipped 1.9% year over year, weighed down by the deliberate closure of underperforming Macy's nameplate locations that removed roughly $170 million in revenue from the year-ago comparison. The standout driver was comparable sales momentum, with owned-plus-licensed-plus-marketplace comps rising 1.9%, the best comparable sales growth the company has recorded in 12 quarters, fueled by stronger traffic and improved merchandising at its Reimagine 125 locations, a 5.7% comp surge at Bloomingdale's, and an 18th consecutive quarter of gains at Bluemercury. Credit card net revenues rose 22.4% to $153 million, adding further lift to the top line. Management responded to the outperformance by raising full-year net sales guidance to $21.15 billion to $21.45 billion and lifting adjusted diluted EPS guidance to $1.70 to $2.05, though the updated outlook factors in anticipated gross margin pressure from tariffs in the second half and a more selective consumer environment.
Key Takeaways
- • Strongest comparable sales growth in 12 quarters with comp sales up 1.9% on O+L+M basis
- • Bloomingdale's delivered fourth consecutive quarter of comparable sales growth, up 5.7% on O+L+M basis
- • Bluemercury achieved 18th consecutive quarter of comparable sales gains, up 1.2%
- • Macy's Reimagine 125 locations outperformed broader Macy's nameplate with owned comp sales up 1.1%
- • Credit card net revenues increased 22.4% to $153 million
- • SG&A decreased $29 million reflecting benefit from closed locations and cost containment
- • Positive comparable sales across all three nameplates
M YoY Financials
Q2 2026 vs Q2 2025, source: SEC Filings
M Revenue by Segment
With YoY comparisons, source: SEC Filings
“Our teams achieved better than expected top- and bottom-line results during the second quarter, driven by our strongest comparable sales growth in 12 quarters, reflecting the strong performance in Macy's Reimagine 125 locations, Bloomingdale's and Bluemercury.”
— Tony Spring, Q2 2026 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 | — |