Q3 2025 Macy's Inc Earnings Call Transcript
Key Points
- Macy's Inc (M) delivered growth across key metrics, with net sales, comparable sales, core adjusted EBITDA, and adjusted diluted EPS all exceeding guidance.
- The company achieved its strongest comp growth in 13 quarters, with Macy's go-forward business and Bloomingdale's both posting significant growth.
- Macy's Inc (M) reported a positive 3.2% comp, with go-forward Macy's, Inc. growing 3.4%, and adjusted EPS of $0.09, well above the guidance range.
- The company's Bold New Chapter strategy is resonating with customers, driving operational and financial improvements.
- Macy's Inc (M) has a strong balance sheet, with ample liquidity and a disciplined capital allocation strategy, allowing for continued investment and shareholder returns.
- Macy's Inc (M) net sales were down 0.6% compared to last year, attributed to the closure of 64 non-go-forward stores.
- The company faces ongoing tariff impacts, which have affected gross margin, although mitigation efforts have been somewhat successful.
- Despite positive results, Macy's Inc (M) remains cautious about consumer behavior in the fourth quarter, incorporating a more choiceful consumer into guidance.
- The active category was softer, indicating potential challenges in maintaining growth across all product lines.
- Macy's Media Network revenue was roughly flat compared to the prior year, indicating limited growth in this area.
Greetings, and welcome to the Macy's, Inc. third quarter 2025 earnings conference call. (Operator Instructions) As a reminder, this call is being recorded.
I would now like to turn the call over to Pamela Quintiliano, Vice President 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 third 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 September 3 earnings call.
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