Q2 2025 Macy's Inc Earnings Call Transcript
Key Points
- Macy's Inc (M) achieved its strongest comparable sales in 12 quarters, with a 1.9% growth.
- The company's Bold New Chapter strategy is yielding positive results, with improvements in product and omnichannel experiences.
- Bloomingdale's achieved its fourth consecutive quarter of comparable sales growth, gaining market share.
- Bluemercury marked its 18th consecutive quarter of comparable sales gains.
- Adjusted EPS of $0.41 exceeded guidance, reflecting disciplined expense controls and tariff mitigation actions.
- Net sales were down 2.5% compared to last year, partly due to the closure of 64 non-Go-Forward stores.
- The macroeconomic environment remains fluid, with uncertainties regarding the impact of tariffs on demand.
- Full-year guidance incorporates a 40 to 60 basis point tariff impact to gross margin, higher than previously expected.
- SG&A expenses as a percentage of total revenue increased slightly compared to the prior year.
- The company remains cautious about consumer behavior for the remainder of the year, reflecting potential impacts from tariffs.
Greetings, and welcome to the Macy's Inc second quarter 2025 earnings call. (Operator Instructions) As a reminder, this conference is being recorded. I would now like to turn the call over to Pamela Quintiliano, VP of Investor Relations. Pamela, you may now begin.
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Thank you, operator. Good morning, everyone, and thanks for joining us. With me on the call today are Tony Spring, our Chairman and CEO; and Tom Edwards, our COO and CFO.
Along with our second quarter 2025 press release, a Form 8-K has been filed with the Securities and Exchange Commission, and the presentation has been posted on the Investors section of our website, macysinc.com and is being displayed live during today's webcast. Unless otherwise noted, the comparisons we provide will be versus 2024. All references to our prior expectations, outlook or guidance refer to information provided on our May 28 earnings call.
On today's call, we will refer to certain non-GAAP
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