Macy`s Inc NYSE:M Price, Chart, News & Insight

NYSE:M

Macy’s Raises Outlook After Strongest First Quarter in Four Years, but Shares Slip as Investors Eye Margin Pressures

Macy's (M) was slightly lower despite reporting better-than-expected first-quarter results and raising its full-year outlook, suggesting investors may be focusing on margin pressures and the uncertain consumer spending environment rather than the headline earnings beat.

The department store operator reported first-quarter net sales of $4.7 billion, up 1.8% year-over-year, while comparable sales increased 3.0%, marking the company's strongest first quarter in four years and its fifth consecutive quarter of results above expectations. Adjusted EPS of $0.13 also exceeded management's guidance.

A major bright spot was Bloomingdale's, which delivered a 10.2% comparable sales increase and achieved record first-quarter sales. Bluemercury continued its strong momentum with comparable sales growth of 6.4%, while Macy's core banner posted a solid 1.6% comparable sales gain. Management said its "Bold New Chapter" transformation strategy and Reimagine 200 store initiative are continuing to gain traction with customers.

The company also raised its full-year outlook. Macy's now expects fiscal 2026 net sales of $21.5 billion to $21.75 billion, compared with prior guidance of $21.4 billion to $21.65 billion. Comparable sales guidance was increased to growth of 0.5% to 1.2%, while adjusted EPS guidance was raised to $2.00-$2.20 from $1.90-$2.10 previously.

However, investors may be concerned about profitability trends. Gross margin declined 30 basis points to 38.9%, with tariffs accounting for the entire decline. Inventories also increased 3.6%, and management acknowledged that macroeconomic and geopolitical uncertainties could continue to affect discretionary consumer spending throughout the year.

Overall, the quarter was fundamentally strong, featuring accelerating sales growth, strong luxury performance, higher earnings guidance, ongoing share repurchases, and continued dividend payments. The stock's slight decline likely reflects profit-taking after recent gains and concerns that tariffs and consumer spending headwinds could limit further margin expansion despite improving sales trends.

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Global Finance News 06-03-26

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.

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The Investor 12-03-25

Macy’s, Inc. Announces $500 Million Senior Notes Offering

Macy’s, Inc. (NYSE: M) revealed plans for its subsidiary, Macy’s Retail Holdings, LLC, to issue $500 million in senior unsecured notes due 2033 in a private offering. The notes will be guaranteed on a senior unsecured basis by Macy’s, Inc.

Proceeds from the offering, combined with cash on hand, will be used to:
1. Fund a concurrent tender offer for certain existing debt,
2. Redeem approximately $587 million in outstanding senior notes and debentures,
3. Cover related premiums, fees, and expenses.

The offering is contingent on market conditions but is not dependent on the tender offer or redemption being completed.

The notes will be offered under Rule 144A and Regulation S and will not be registered under the Securities Act of 1933. Macy’s emphasized this release does not constitute an offer to buy or sell securities.

Macy’s, Inc. operates the Macy’s, Bloomingdale’s, and Bluemercury brands, delivering a nationwide and digital retail experience.

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European Investor 07-14-25

Macy’s, Inc. Q1 2025 Summary: Better Than Expected Results, Reaffirmed Outlook

Macy’s, Inc. reported Q1 2025 net sales of $4.6 billion, surpassing prior guidance, though still down 5.1% year-over-year due to store closures. GAAP diluted EPS was $0.13, and adjusted EPS was $0.16, beating expectations.

Segment performance:
• Macy’s comparable sales: down 2.9% (owned), down 2.1% (owned + licensed + marketplace)
• Bloomingdale’s: up 3.0% and 3.8%
• Bluemercury: up 1.5% (17th straight positive quarter)
• “Reimagine 125” store locations outperformed the broader Macy’s fleet.

Margins and cash flow:
• Gross margin: 39.2% (flat)
• Adjusted EBITDA: $324 million (down from $364M)
• Cash flow from operations: -$64 million
• Cash balance: $932 million
• Total debt: $2.8 billion

Shareholder returns:
• $51 million in dividends
• $101 million in share buybacks
• $1.3 billion remains under repurchase authorization

2025 outlook (unchanged net sales guidance):
• Net sales: $21.0B–$21.4B
• Adjusted EPS: lowered to $1.60–$2.00 from $2.05–$2.25
• Adjusted EBITDA margin: lowered to 7.4%–7.9%

CEO Tony Spring reaffirmed the company’s strategy and confidence in its turnaround plan despite macro challenges and a competitive landscape.

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The Investor 05-29-25

Macy’s Reduces and Extends Credit Facility to Strengthen Liquidity Position

Macy’s, Inc. has amended and extended its asset-based credit facility, securing $2.1 billion in committed liquidity through April 2030. The revised agreement, executed on April 9, 2025, replaces the company’s prior $3.0 billion facility set to expire in March 2027.

The new arrangement reduces borrowing capacity but offers lower fees and more favorable terms. Macy’s Inventory Funding LLC remains the borrower, with Macy’s Inventory Holdings LLC as guarantor. As of the end of fiscal 2024, the facility was undrawn, and Macy’s reported $1.3 billion in cash and cash equivalents.

Key terms of the amended credit facility include:

Total committed borrowing: $2.1 billion

Maturity: April 2030

Interest rates: Based on adjusted SOFR +1.25% to 1.50% or base rate +0.25% to 0.50%, depending on utilization

Optional increase: Up to $1.75 billion in additional commitments

Collateral: First priority lien on inventory and equity of the ABL Borrower

Covenants: Includes financial maintenance tests and restrictions on debt, dividends, and asset sales

This move enhances Macy’s flexibility by locking in lower borrowing costs while maintaining access to a sizable credit reserve.

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ME NEWS 04-10-25

Macy’s, Inc. (NYSE: M) reported its financial results for the fourth quarter and fiscal year 2024, along with its 2025 guidance.

Key highlights:
- Fourth quarter GAAP diluted earnings per share (EPS) was $1.21, while adjusted diluted EPS was $1.80, exceeding prior guidance.
- Comparable sales were down 1.1% on an owned basis but up 0.2% on an owned-plus-licensed-plus-marketplace basis.
- Macy’s First 50 locations saw comparable sales growth of 0.8% on an owned basis and 1.2% on an owned-plus-licensed basis.
- Bloomingdale’s recorded 4.8% owned comparable sales growth and its best 6.5% owned-plus-licensed-plus-marketplace sales growth.
- Bluemercury continued its growth, with comparable sales up 6.2% for the 16th consecutive quarter.
- Ended fiscal year 2024 with $1.3 billion in cash, up $272 million year-over-year.
- Generated $1.3 billion in operating cash flow and $679 million in free cash flow.
- Announced intent to resume share buybacks under the remaining $1.4 billion share repurchase authorization.

Fourth quarter 2024 results (year-over-year comparison):
- Net sales were $7.8 billion, down 4.3%.
- Gross margin rate was 35.7%, down 80 basis points.
- SG&A expenses were $2.4 billion, down $23 million, reflecting cost discipline.
- GAAP diluted EPS was $1.21; adjusted diluted EPS was $1.80, compared to $2.24 in Q4 2023.
- Operating income was $500 million, up from a loss of $149 million last year.

Fiscal year 2024 results (year-over-year comparison):
- Net sales were $22.3 billion, down 3.5%.
- Comparable sales were down 2.0% on an owned basis and down 0.9% on an owned-plus-licensed-plus-marketplace basis.
- Gross margin rate was 38.4%, flat year-over-year.
- GAAP diluted EPS was $2.07; adjusted diluted EPS was $2.64, compared to $3.28 in fiscal year 2023.
- Free cash flow was $679 million.

2025 outlook:
- Net sales are projected to be between $21.0 billion and $21.4 billion.
- Comparable owned-plus-licensed-plus-marketplace sales are expected to be down approximately 2.0% to down 0.5%.
- Adjusted diluted EPS is expected to be between $2.05 and $2.25.
- Core adjusted EBITDA margin is projected to be between 8.0% and 8.2%.

CEO Tony Spring highlighted that Macy’s strategy is delivering results, with comparable sales improving to their best level in 11 quarters. He noted that growth in the First 50 locations and luxury segments, including Bloomingdale’s and Bluemercury, are strong drivers.

CFO Adrian Mitchell reaffirmed Macy’s commitment to elevating the customer experience, maintaining operational efficiency, and returning capital to shareholders through dividends and share buybacks.

Balance sheet and liquidity:
- Cash position of $1.3 billion with no short-term borrowings.
- Total debt of $2.8 billion, with no major maturities until 2027.
- Merchandise inventory increased 2.5%, partly due to the shift to cost accounting.

Share repurchase plan:
Macy’s intends to resume share buybacks under its $1.4 billion authorization, depending on market conditions.

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WS Investor 03-06-25

Macy’s, Inc. filed a Form 8-K on February 28, 2025, announcing that its Board of Directors has scheduled the company’s annual stockholder meeting for May 16, 2025. The record date for stockholders eligible to vote at the meeting has been set for March 20, 2025.

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European Investor 03-01-25

06-04-26The Investor

06-03-26Global Finance News

12-14-25WS Investor

12-03-25The Investor

09-04-25The Investor

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