{"id":11781,"date":"2026-06-03T12:31:31","date_gmt":"2026-06-03T12:31:31","guid":{"rendered":"https:\/\/siliconvalleymovingpost.com\/?p=11781"},"modified":"2026-06-03T12:31:31","modified_gmt":"2026-06-03T12:31:31","slug":"macys-raises-annual-outlook-after-the-fourth-straight-quarter-of-sales-gains","status":"publish","type":"post","link":"https:\/\/siliconvalleymovingpost.com\/?p=11781","title":{"rendered":"Macy\u2019s raises annual outlook after the fourth straight quarter of sales gains"},"content":{"rendered":"
\n

By ANNE D\u2019INNOCENZIO, AP Retail Writer<\/strong><\/p>\n

NEW YORK (AP) \u2014 Macy\u2019s reported its fourth consecutive quarter of comparable sales gains as the department store said an overhaul of its merchandise and better customer service is resonating with customers.<\/p>\n

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The New York company raised its outlook Wednesday and shares rose 3% before the opening bell.<\/p>\n

\u201cWe\u2019re off to a strong start to the year, \u201d said CEO Tony Spring, who is in the third year of an attempted turnaround of the storied retailer. \u201cWe\u2019re operating with discipline and focusing on what matters most \u2014 our customers.\u201d<\/p>\n

Comparable sales \u2014 sales at established online channels and stores\u2014 rose 3% during the first quarter. That was higher than the 1.8% gain during the final quarter of 2025 and it was the strongest first quarter for such sales in four years, the retailer said. Macy\u2019s stores posted a comparable sales increase of 1.6%, while the company\u2019s Bloomingdale\u2019s stores delivered a 10.2% increase, its highest first-quarter sales volume on record. Bluemercury, the cosmetics chain also owned by Macy\u2019s had a 6.4% comparable sales gain.<\/p>\n

It\u2019s the latest encouraging sign for Macy\u2019s, which had been mired in a yearslong sales slump. Under Spring, who took over the top job in early 2024, Macy\u2019s has closed unprofitable stores and spent millions modernize others. The company has beefed up customer service. It\u2019s also been trying to differentiate its luxury business from its rivals with exclusive merchandise.<\/p>\n

Some of the outsized performance at Bloomingdales has been attributed by retail analysts to the Chapter 11 bankruptcy of Saks Global, the parent company of Saks Fifth Avenue and Neiman Marcus.<\/p>\n

Still, Macy\u2019s is contending with the same challenges faced by its the retailer sector as a whole.<\/p>\n

\n<\/div>\n

U.S. retailers have spent months navigating an uncertain economic environment, from President Donald Trump\u2019s tariffs to the impact of soaring gasoline prices due to the Iran war. The average price for a gallon of regular gasoline has been above $4 per gallon since March, according to according to AAA. A gallon costs 40% more than than it did before the war. The latest batch of earnings reports from major retailers underscore how shoppers are under increasing financial strain as they try to factor in higher prices for gasoline, groceries, utilities and almost everything else.<\/p>\n

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Macy\u2019s reported net income of $63 million, or 23 cents per share, in the quarter ended May 2. Adjusted earnings per share was 13 cents, a dime better than Wall Street had expected, according to FactSet.<\/p>\n

That compares with a $38 million profit, or 13 cents per share, in the year-ago period.<\/p>\n

Net sales rose to $4.68 billion from $4.6 billion in the year-ago period. Revenue this quarter also edged out projections on Wall Street.<\/p>\n

\n<\/div>\n

The company now expects annual net sales of between $21.5 billion and $21.75 billion, up from previous guidance of $21.4 billion to $21.65 billion in March. Macy\u2019s upped its projections for comparable sales, saying on Wednesday that they will likely increase between 0.5% and 1.2%. The company in March predicted a decline of 0.5% to a gain of 0.5%.<\/p>\n

It also now anticipates earnings per share for the year to be in the range of $2 to $2.20, up from its previous guidance of $1.90 to $2.10 per share.<\/p>\n

For the full fiscal year, analysts were expecting $2.09 per share on revenue of $21.6 billion, according to FactSet analysts.<\/p>\n

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Macy\u2019s reported its fourth consecutive quarter of comparable sales gains as an overhaul of merchandise and customer service drove spending.<\/p>\n","protected":false},"author":1,"featured_media":11780,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[43,2],"tags":[],"class_list":["post-11781","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-based-on-facts-either-observed-and-verified-directly-by-the-reporter-or-reported-and-verified-from-knowledgeable-sources","category-news"],"yoast_head":"\nMacy\u2019s raises annual outlook after the fourth straight quarter of sales gains - Silicon Valley Moving Post<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/siliconvalleymovingpost.com\/?p=11781\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Macy\u2019s raises annual outlook after the fourth straight quarter of sales gains - 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