Macy's raises annual outlook on strong luxury sales
The department store operator increased its fiscal 2026 profit outlook after reporting its first quarterly sales growth in nearly four years. Strong demand for high-end apparel at Bloomingdale's helped offset macroeconomic pressures and rising fuel costs.
Insights:
Macy's raised its annual profit forecast to $2.00-$2.20 per share after posting its first quarterly sales growth in nearly four years. Quarterly revenue rose 1.8% to $4.68 billion, ending 15 straight quarters of declines as luxury demand offset broader retail weakness. The results highlight a widening gap between resilient high-income spenders and price-sensitive lower-income households in the United States.
