Macy's (0JXD) Earnings Dates, Call Summary & Reports

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Earnings Data

Report Date

May 27, 2026

Before Open (Confirmed)

Period Ending

2026 (Q1)

Consensus EPS Forecast

0.03

Last Year’s EPS

0.16

Same Quarter Last Year

Analyst Consensus

Hold

Based on 9 Analysts Ratings

Earnings Call Summary

Q4 2025

Earnings Call Date:Mar 18, 2026|

% Change Since:

Earnings Call Sentiment|Positive

The call communicated clear operational momentum: material beats on EPS, return to positive comps, strong Bloomingdale's performance, improved cash flow and successful Reimagine rollout. Offsetting risks include tariff-related margin pressure, lower-than-expected asset sale gains, extended timing on store monetizations, and cautious near-term guidance that compresses Q1 earnings and EBITDA margin. Overall, the company appears to be executing its strategy effectively while prudently managing macro and timing uncertainties.

Company Guidance

Macy's, Inc. guided to fiscal 2026 net sales of approximately $21.4 billion to $21.65 billion, Macy's, Inc. comparable sales down ~0.5% to up 0.5%, other revenue about $920 million, gross margin of 38.3%–38.6% of net sales (tariff headwind ~20–30 bps full year, with Q1 tariff impact ~40–60 bps), SG&A up 1%–2% on a dollar basis (highest dollar growth expected in Q1 and Q3), adjusted EBITDA of 7.7%–7.9% of total revenue (vs. 7.9% in FY25), interest expense roughly $110 million, adjusted diluted EPS of $1.90–$2.10 (incorporating a ~$0.10–$0.20 tariff drag and comparing to $2.15 last year), capex ~ $800 million (with increased investment in Bloomingdale's), and a Q1 outlook of net sales ~$4.575B–$4.625B, comps up ~0.5%–1.5%, adjusted EBITDA 4.9%–5.1% of revenue (vs. 6.3% last year) and adjusted EPS of -$0.01 to $0.01 (Q1 tariff EPS headwind ~$0.05–$0.10); guidance excludes potential future share buybacks and will reflect the company’s updated non‑GAAP definitions beginning in Q1.

Q4 and Full-Year EPS Outperformance

Adjusted diluted EPS of $1.67 in Q4 exceeded guidance of $1.35–$1.55; full-year adjusted diluted EPS of $2.32 was above prior guidance of $2.00–$2.20.

Return to Positive Comparable Sales

Company returned to positive comparable sales for total Macy's, Inc. and the Macy's nameplate; Macy's, Inc. comparable sales rose 1.8% in Q4 (versus guidance of down 2.5% to flat).

Bloomingdale's Strong Growth

Bloomingdale's delivered standout performance with Q4 comparable sales up 9.9% and full-year comparable sales up 7.4% (490 bps improvement YoY and +1,030 bps on a 2-year basis).

Reimagine Store Program Traction

Reimagine initiatives expanded to ~200 stores; Macy's go-forward comparable sales up 0.6% for the year, Reimagine 125 comparable sales +1% and Reimagine stores posted positive comps in 7 of the last 8 quarters; ~60% of go-forward Macy's locations now have full initiatives, representing ~75% of go-forward Macy's store sales.

Healthy Cash Generation and Capital Returns

Operating cash flow of $1.4B (vs $1.3B prior year) and free cash flow of $797M (vs $679M prior year) representing a free cash flow yield >15%; returned $448M to shareholders in 2025 (dividends $197M; share repurchases $251M) with ~$1.1B remaining repurchase authorization.

Digital and Other Revenue Momentum

Digital comprises ~1/3 of annual sales; credit card revenue of $205M in Q4 was up 17.1% YoY and Macy's Media Network revenue was $72M in Q4, up 12.5% YoY; other revenue totaled $277M in Q4.

Inventory and AUR Improvements

Year-end inventories of $4.4B were down 1.3% YoY with improved composition (more newness, less aged goods); AUR and basket size continued to rise, driven by favorable mix and newness.

Guidance Reflects Continued Progress with Prudence

Fiscal 2026 guidance targets net sales of $21.4B–$21.65B, comparable sales roughly down 0.5% to up 0.5%, and adjusted diluted EPS of $1.90–$2.10; Q1 comparable sales guidance of +0.5% to +1.5% signals confidence in near-term trends while preserving flexibility.

Macy's (GB:0JXD) Earnings, Revenues Date & History

The upcoming earnings date is based on a company’s previous reporting, and may be updated when the actual date is announced

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GB:0JXD Earnings History

Report Date	Fiscal Quarter	Forecast / EPS	Last Year's EPS	EPS YoY Change	Slides	Play Transcript
May 27, 2026	2026 (Q1)	0.03 / -	0.16	―	―	―
Mar 18, 2026	2025 (Q4)	1.57 / 1.67	1.8	-7.22% (-0.13)
Dec 03, 2025	2025 (Q3)	-0.13 / 0.09	0.04	125.00% (+0.05)
Sep 03, 2025	2025 (Q2)	0.19 / 0.41	0.53	-22.64% (-0.12)
May 28, 2025	2025 (Q1)	0.15 / 0.16	0.27	-40.74% (-0.11)
Mar 06, 2025	2024 (Q4)	1.54 / 1.80	2.45	-26.53% (-0.65)
Dec 11, 2024	2024 (Q3)	0.03 / 0.04	0.21	-80.95% (-0.17)
Aug 21, 2024	2024 (Q2)	0.32 / 0.53	0.26	103.85% (+0.27)
May 21, 2024	2024 (Q1)	0.17 / 0.27	0.56	-51.79% (-0.29)
Feb 27, 2024	2023 (Q4)	1.99 / 2.45	1.88	30.32% (+0.57)

The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.

Beat

Missed

GB:0JXD Earnings-Related Price Changes

Report Date	Price 1 Day Before	Price 1 Day After	Percentage Change
Mar 18, 2026	$16.95	$17.89	+5.55%
Dec 03, 2025	$22.57	$22.70	+0.54%
Sep 03, 2025	$13.00	$15.41	+18.55%
May 28, 2025	$11.43	$11.58	+1.27%

Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.