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Macy's, Inc.

M · Consumer Discretionary

Last earnings Sep 10, 2026

Key results

Other revenuequarter

$187 million

Other revenue of $187 million increased $28 million, or 17.6%.

SEC original ↗Macy's, Inc. — Earnings release (8-K exhibit)EX-99Sep 3, 2025

Revenuequarter

$34 million

Macy s Media Network net revenue remained flat at $34 million.

SEC original ↗Macy's, Inc. — Earnings release (8-K exhibit)EX-99Sep 3, 2025

Gross marginquarter

39.7%

Gross margin rate of 39.7% declined 80 basis points, reflecting proactive markdowns on remaining early Spring product to maintain healthy inventories and product bought under prior tariff rates.

SEC original ↗Macy's, Inc. — Earnings release (8-K exhibit)EX-99Sep 3, 2025

As a percent of total revenue, SG A expense increased 20 basis points to 38.9% driven by lower net sales.

SEC original ↗Macy's, Inc. — Earnings release (8-K exhibit)EX-99Sep 3, 2025

GAAP net incomequarter

$87 million

GAAP net income was $87 million, or 1.7% of total revenue, and Adjusted net income was $113 million, or 2.3% of total revenue.

SEC original ↗Macy's, Inc. — Earnings release (8-K exhibit)EX-99Sep 3, 2025

Adjusted net incomequarter

$113 million

GAAP net income was $87 million, or 1.7% of total revenue, and Adjusted net income was $113 million, or 2.3% of total revenue.

SEC original ↗Macy's, Inc. — Earnings release (8-K exhibit)EX-99Sep 3, 2025

Net incomequarter

$150 million

In the second quarter of 2024, net income was $150 million, or 2.9% of total revenue, and Adjusted net income was $149 million, or 2.9% of total revenue.

SEC original ↗Macy's, Inc. — Earnings release (8-K exhibit)EX-99Sep 3, 2025

Adjusted EPSquarter

$0.31

GAAP and Adjusted diluted EPS were $0.31 and $0.41, respectively.

SEC original ↗Macy's, Inc. — Earnings release (8-K exhibit)EX-99Sep 3, 2025

In the second quarter of 2024, GAAP and Adjusted diluted EPS were both $0.53.

SEC original ↗Macy's, Inc. — Earnings release (8-K exhibit)EX-99Sep 3, 2025

AI analysis

Q2 2025 · reported Sep 3, 2025

Based on: Earnings release + parent 8-K + 10-Q — transcript not held

Revenue · Q2 2025
$34M
EX-99 · Sep 3, 2025
Adjusted EPS · Q2 2025
$0.31
EX-99 · Sep 3, 2025
Gross margin · Q2 2025
39.7%
EX-99 · Sep 3, 2025
GAAP net income · Q2 2025
$87M
EX-99 · Sep 3, 2025

Headline figures

MetricQ2 2025Prior qtrYear ago
Other revenue$187 million——
Revenue$34 million——
Gross margin39.7%——
GAAP net income$87 million——
Adjusted net income$113 million——
Net income$150 million——
Adjusted EPS$0.31——

EX-99 · Sep 3, 2025

Guidance · company-stated

Direction: Raised

Revenue — Raised

“(NYSE M) today reported financial results for the second quarter of 2025 and raised its annual net sales and Adjusted diluted earnings per share ( EPS ) guidance.”

Revenue — Raised

“2025 Guidance The company has revised its annual guidance, including raising net sales and adjusted diluted EPS guidance, to reflect second quarter of 2025 performance and the anticipated gross margin impact of current tariffs in the third and fourth quarters.”

Classified from the release's primary full-year outlook statement.

Next earningsNo verified date on fileNo date is estimated or imported

Margin

Gross margin39.7%

Capital allocation

Dividend$100M

The company returned $100 million to shareholders including $50 million in quarterly dividends and $50 million in share repurchases.

General educational research only — not investment advice.Every figure is as stated in the held documents; values marked “computed from stated figures” are arithmetic on those stated figures. Guidance shown is the company’s own stated guidance. No price targets, no recommendations, no consensus estimates.

Event summary

Reports Second Quarter 2025 Results Macy s, Inc

Based on: Earnings release + parent 8-K + 10-Q — transcript not held

Guidance & outlook

Direction: Raised

Revenue — Raised (“raised”)
“(NYSE M) today reported financial results for the second quarter of 2025 and raised its annual net sales and Adjusted diluted earnings per share ( EPS ) guidance.”

Revenue — Raised (“raising”)
“2025 Guidance The company has revised its annual guidance, including raising net sales and adjusted diluted EPS guidance, to reflect second quarter of 2025 performance and the anticipated gross margin impact of current tariffs in the third and fourth quarters.”

Classified from the release's primary full-year outlook statement.

Capital allocation

The company returned $100 million to shareholders including $50 million in quarterly dividends and $50 million in share repurchases.

SEC original ↗Macy's, Inc. — Earnings release (8-K exhibit)EX-99Sep 3, 2025

The company ended the second quarter of 2025 with cash and cash equivalents of $829 million and had $2.0 billion of available borrowing capacity under its asset-based credit facility.

SEC original ↗Macy's, Inc. — Earnings release (8-K exhibit)EX-99Sep 3, 2025

During July and August 2025, the company completed a series of financing transactions to further fortify its balance sheet, increase financial flexibility and modestly reduce leverage, which resulted in a net reduction of long-term debt of approximately $340 million.

SEC original ↗Macy's, Inc. — Earnings release (8-K exhibit)EX-99Sep 3, 2025

The net reduction of long-term debt reflects the issuance of $500 million in new senior unsecured notes due 2033, and the repayment of approximately $840 million of certain outstanding notes and debentures, using proceeds from the issuance and cash on hand.

SEC original ↗Macy's, Inc. — Earnings release (8-K exhibit)EX-99Sep 3, 2025

As a result of these actions, the company has no material long-term debt maturities until 2030.

SEC original ↗Macy's, Inc. — Earnings release (8-K exhibit)EX-99Sep 3, 2025

As of the end of the second quarter of 2025, total debt was $2.6 billion, which included $194 million of redeemed debt included in the aforementioned actions that did not settle until August 28, 2025.

SEC original ↗Macy's, Inc. — Earnings release (8-K exhibit)EX-99Sep 3, 2025

Strategy & priorities

The substantive, enterprise-wide improvements across our business, with a strong focus on customer experience, give us further confidence that our Bold New Chapter initiatives can drive sustainable, long-term profitable growth.

SEC original ↗Macy's, Inc. — Earnings release (8-K exhibit)EX-99Sep 3, 2025

The company remains committed to the Bold New Chapter strategy and reinvesting most of the savings from the strategy to support long-term sales growth.

SEC original ↗Macy's, Inc. — Earnings release (8-K exhibit)EX-99Sep 3, 2025

s ability to successfully implement its Bold New Chapter strategy, including the ability to realize the anticipated benefits associated with the strategy, competitive pressures from specialty stores, general merchandise stores, off-price and discount stores, manufacturers outlets, the Internet and catalogs and general consumer spending levels, including the impact of the availability and level of consumer debt, conditions to, or changes in the timing of proposed real estate and other transactions, declines in credit card revenues, possible systems failures and or security breaches, Macy s, Inc.

SEC original ↗Macy's, Inc. — Earnings release (8-K exhibit)EX-99Sep 3, 2025

Stores impacted by a natural disaster or undergoing significant expansion or shrinkage remain in the comparable sales calculation unless the store, or material portion of the store, is closed for a significant period of time.

SEC original ↗Macy's, Inc. — Earnings release (8-K exhibit)EX-99Sep 3, 2025

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued) (Unaudited) The Amended & Extended ABL Credit Facility is secured on a first priority basis (subject to customary exceptions) by (i) all assets of the ABL Borrower including all such inventory and the proceeds thereof and (ii) the equity of the ABL Borrower.

SEC original ↗Macy's, Inc. — 10-Q Quarterly report10-QSep 10, 2026

Risks & headwinds

Gross margin rate of 39.7% declined 80 basis points, reflecting proactive markdowns on remaining early Spring product to maintain healthy inventories and product bought under prior tariff rates.

SEC original ↗Macy's, Inc. — Earnings release (8-K exhibit)EX-99Sep 3, 2025

2025 Guidance The company has revised its annual guidance, including raising net sales and adjusted diluted EPS guidance, to reflect second quarter of 2025 performance and the anticipated gross margin impact of current tariffs in the third and fourth quarters.

SEC original ↗Macy's, Inc. — Earnings release (8-K exhibit)EX-99Sep 3, 2025

management and are subject to significant risks and uncertainties.

SEC original ↗Macy's, Inc. — Earnings release (8-K exhibit)EX-99Sep 3, 2025

Legal Proceedings 29 Item 1A.

SEC original ↗Macy's, Inc. — 10-Q Quarterly report10-QSep 10, 2026

Such estimates and assumptions are subject to inherent uncertainties which may result in actual amounts differing from reported amounts.

SEC original ↗Macy's, Inc. — 10-Q Quarterly report10-QSep 10, 2026

Tariff Refunds and Investments Macy s, Inc.

SEC original ↗Macy's, Inc. — 10-Q Quarterly report10-QSep 10, 2026

Competitors

Competitors & peers

Same GICS sector — classification peers, not declared competitors

Amazon (AMZN) Consumer DiscretionaryTesla, Inc. (TSLA) Consumer DiscretionaryAlibaba Group (BABA) Consumer DiscretionaryeBay Inc. (EBAY) Consumer DiscretionaryToyota Motor (TM) Consumer DiscretionaryO'Reilly Automotive (ORLY) Consumer DiscretionaryLi Auto Inc. (LI) Consumer DiscretionaryV F Corp (VFC) Consumer Discretionary
Documents

Filings

71 documents

Earnings releases

22 documents

Presentations

0 documents

No presentations for Macy's, Inc. are held in this edition of the library.

Transcripts

0 documents

No transcripts for Macy's, Inc. are held in this edition of the library.

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