Overview
- Q4 results beat guidance with net sales of $7.6 billion, comparable sales up 1.8% and adjusted EPS of $1.67, as full-year adjusted EPS reached $2.32 alongside $1.4 billion in operating cash flow and $448 million returned to shareholders.
- For fiscal 2026, Macy’s projects net sales of $21.4 billion to $21.65 billion, comparable sales between down 0.5% and up 0.5%, and adjusted EPS of $1.90 to $2.10, including an estimated $0.10 to $0.20 EPS tariff drag that is heavier early in the year.
- Management issued a stronger-than-expected first-quarter outlook with net sales up to $4.63 billion and comparable sales growth up to 1.5%, topping analyst estimates.
- The company will expand its Reimagine program to 200 locations, exit roughly 65 additional Macy’s stores through 2028, target $650 million to $700 million in real-estate monetization, and maintain about $1.1 billion of remaining share buyback authorization.
- Leaders highlighted broad AI deployment with 35-plus use cases across operations and framed an E-shaped consumer backdrop, as Bloomingdale’s outperformed with Q4 comps up 9.9% and Bluemercury posted a 1.3% increase.