Macy’s raises full-year guidance after strong second quarter

US department store group Macy’s has raised its full-year 2026 guidance after reporting stronger-than-expected second-quarter results, with comparable sales increasing across its portfolio.

Group net sales rose 1.1 percent to 4.9 billion dollars in the quarter, while comparable sales increased 2.7 percent, marking the fifth consecutive quarter of growth.

Comparable sales for the Macy’s chain grew 1.1 percent, with its Reimagine 200 stores performing ahead of the wider business, up 1.9 percent. Bloomingdale’s was the strongest performer, with comparable sales jumping 11.3 percent, its second consecutive quarter of double-digit growth and its highest second-quarter sales volume in the brand’s history. Bluemercury comparable sales increased 6.2 percent.

In a statement, Tony Spring, chairman and CEO of Macy’s, said: “Our second-quarter performance builds on the progress our colleagues have consistently delivered through our Bold New Chapter strategy. The investments we're making are driving results across our portfolio, from the continued outperformance of our Reimagine 200 Macy’s stores, to meaningful double-digit growth at Bloomingdale’s and another solid quarter at Bluemercury.”

GAAP diluted earnings per share doubled to 0.62 dollars, while adjusted diluted EPS rose 14 percent to 0.63 dollars, excluding a net tariff refund benefit. Macy’s said it is reinvesting most of its 116 million-dollar tariff refunds into its business, including customer initiatives and its Bold New Chapter strategy.

The retailer raised its full-year net sales guidance to sit between 21.675 and 21.825 billion dollars, from 21.5 and 21.75 billion previously. Comparable sales guidance was also increased to 1 to 1.5 percent, while adjusted diluted EPS is now expected at 2.15 to 2.35 dollars, up from 2 to 2.20 dollars.

Spring added that the company remains focused on “exciting brands and assortments and compelling events and experiences” as it enters the second half of the year.