Companies /Consumer Cyclical

Macy`s Inc

NYSE: M Department Stores
$22.42
▼ $0.40 (−1.77%) today
Markets open · 3:37pm ET

Q4 2026 Earnings

Reported Mar 18, 2026, 7:06am ET · SEC source
$1.67
Beat +6.85%
EPS · est. $1.56
$7.9B
Beat +5.43%
Revenue · est. $7.5B
+5.4%
Beating market
M vs S&P since report
10 quarters
Consecutive EPS beats

Market Reaction

% change · around the report
−6%−3%0+3%Mar 18Mar 19report 7:06am ETearnings−2.7%−2.1%
−6%−3%0+3%Mar 18Mar 19earnings−2.7%−2.1%
M −2.1%S&P 500 −2.7%
−6%−3%0+3%Mar 18Mar 19report 7:06am ETearnings−3.0%−2.1%
−6%−3%0+3%Mar 18Mar 19earnings−3.0%−2.1%
M −2.1%NASDAQ −3.0%
−8%−4%0+4%Mar 17Mar 26report 7:06am ETearnings−3.2%+0.3%
−8%−4%0+4%Mar 17Mar 26earnings−3.2%+0.3%
M +0.3%S&P 500 −3.2%
−8%−4%0+4%Mar 17Mar 26report 7:06am ETearnings−4.0%+0.3%
−8%−4%0+4%Mar 17Mar 26earnings−4.0%+0.3%
M +0.3%NASDAQ −4.0%
+4.73%
Day of report
+1.86%
Next session
+4.40%
One week
+12.53%
30 days

S&P 500 over the same 30 days: +7.15%.

Did M Beat Earnings? Q4 2026 Results

Macy's closed out its fiscal fourth quarter with results that topped Wall Street expectations on both the top and bottom lines, offering a measure of reassurance to investors watching the department store retailer navigate a difficult consumer environment. The company posted adjusted diluted EPS of $1.67, beating the consensus estimate of $1.56 by 6.85%, while revenue of $7.92 billion came in 5.43% above the $7.51 billion Wall Street had anticipated, even as total revenue slipped 1.1% from a year ago largely due to planned store closures. The standout driver of the quarter was Bloomingdale's, where comparable sales surged 9.9%, offsetting more modest gains at the Macy's nameplate and helping all three banners post positive comparable sales growth. Credit card revenues also contributed, climbing 17.1% to $205.00 million. Looking ahead, Macy's guided fiscal 2026 adjusted EPS to a range of $1.90 to $2.10, reflecting tariff headwinds expected to weigh most heavily in the first quarter and ongoing investments in the expanded Reimagine 200 store initiative.

Key Takeaways
  • Bloomingdale's comparable sales surged 9.9% in Q4, delivering its best holiday performance on record
  • Comparable sales grew 1.8% across all nameplates in Q4
  • Reimagine 125 store locations posted 0.9% comparable sales growth in Q4
  • Credit card revenues increased 17.1% to $205 million, reflecting a healthy credit portfolio
  • Macy's Media Network revenue grew 12.5% to $72 million
  • Cost containment and end-to-end savings initiatives reduced SG&A by $23 million in Q4
  • Store closures of non-go-forward Macy's locations contributed to net sales decline of 1.7%

“As we wrap up year two of the Bold New Chapter, I'm pleased with the growth and progress we're making against our strategic priorities. At Macy's, we are offering more relevant brands, stronger storytelling and investing in our colleagues so we can better serve the customer. Bloomingdale's exceptional performance underscores its ability to elevate the customer experience and capture demand across premium contemporary to luxury businesses. Looking to 2026 and beyond, we are ready to build on our progress.”

Macy's CEO, on the earnings call

Forward Guidance & Outlook

For fiscal year 2026, Macy's expects net sales of $21.4 billion to $21.65 billion, comparable sales change of -0.5% to 0.5%, adjusted EBITDA margin of 7.7% to 7.9% of total revenue, and adjusted diluted EPS of $1.90 to $2.10. Guidance assumes the first half of the year will have a larger tariff impact than the second half, with Q1 having the most meaningful impact. The company is taking a prudent approach given macroeconomic and geopolitical uncertainty affecting discretionary spend. Guidance also reflects investments in the Reimagine 200 store expansion and luxury nameplates to support long-term growth, and fewer non-go-forward store closures than in fiscal 2024.

M YoY Financials

Q4 2026 vs Q4 2025 · SEC filings Q4 2025 Q4 2026
$0$3.0B$6.0B$8.0B$7.9BRevenue$3.0B$2.7BGross Profit$499.0M$745.0MOperating Income$342.0M$507.0MNet Income
$0$3.0B$6.0BRevenueGross ProfitOperating IncomeNet Income

M Revenue by Segment

Credit Card Revenues$205.0M+17.1%
Macy's Media Network$72.0M+12.5%

Figures from SEC filings and company reports. Not investment advice.