The Investor
03 Dec 2025, 19:47
Macy’s posts strongest sales growth in 13 quarters as turnaround gains momentum
Macy’s, Inc. reported third-quarter 2025 net sales of 4.7 billion dollars, exceeding guidance and marking the company’s best comparable sales performance in over three years. Comparable sales rose 2.5% on an owned basis and 3.2% on an owned-plus-licensed-plus-marketplace basis, with all nameplates contributing. Macy’s go-forward business delivered 2.7% comparable sales growth, while Bloomingdale’s led with an 8.8% increase—its fifth consecutive quarter of gains. Bluemercury also achieved positive comp growth. GAAP EPS was 0.04 dollars and adjusted EPS 0.09 dollars, both above expectations.
Gross margin slipped 20 basis points to 39.4% due to tariffs, partly offset by mitigation efforts. SG&A fell by 40 million dollars to 2.0 billion dollars, benefiting from store closures and continued cost control, while still supporting investments in upgraded Macy’s locations, Bloomingdale’s, and digital initiatives. Credit card revenue climbed 32% to 158 million dollars, reflecting portfolio health. Adjusted EBITDA came in at 285 million dollars, up from 273 million dollars a year earlier.
The company returned 99 million dollars to shareholders through dividends and buybacks during the quarter. CEO Tony Spring said the results demonstrate the momentum of Macy’s Bold New Chapter strategy, supported by refreshed merchandise, stronger omni-channel execution, and continued gains at Reimagine 125 locations ahead of the holiday season.
Macy’s, Inc. reported third-quarter 2025 net sales of 4.7 billion dollars, exceeding guidance and marking the company’s best comparable sales performance in over three years. Comparable sales rose 2.5% on an owned basis and 3.2% on an owned-plus-licensed-plus-marketplace basis, with all nameplates contributing. Macy’s go-forward business delivered 2.7% comparable sales growth, while Bloomingdale’s led with an 8.8% increase—its fifth consecutive quarter of gains. Bluemercury also achieved positive comp growth. GAAP EPS was 0.04 dollars and adjusted EPS 0.09 dollars, both above expectations.
Gross margin slipped 20 basis points to 39.4% due to tariffs, partly offset by mitigation efforts. SG&A fell by 40 million dollars to 2.0 billion dollars, benefiting from store closures and continued cost control, while still supporting investments in upgraded Macy’s locations, Bloomingdale’s, and digital initiatives. Credit card revenue climbed 32% to 158 million dollars, reflecting portfolio health. Adjusted EBITDA came in at 285 million dollars, up from 273 million dollars a year earlier.
The company returned 99 million dollars to shareholders through dividends and buybacks during the quarter. CEO Tony Spring said the results demonstrate the momentum of Macy’s Bold New Chapter strategy, supported by refreshed merchandise, stronger omni-channel execution, and continued gains at Reimagine 125 locations ahead of the holiday season.