Q2 2026 Macy's Inc Earnings Call Transcript
Key Points
- Macy's Inc (M) delivered comparable sales growth of 2.7%, marking the fifth consecutive quarter of comp sales growth.
- Macy's Inc (M) raised its full-year outlook for both top and bottom lines, reflecting confidence in the Bold New Chapter strategy.
- Bloomingdale's achieved double-digit comparable sales growth of 11.3%, the best second-quarter sales volume in its 154-year history.
- Bluemercury delivered solid comparable sales growth of 6.2%, driven by strong customer engagement and new store performance.
- Macy's Inc (M) generated strong operating cash flow of $586 million and free cash flow of $262 million in the first half, improving from the prior year.
- Macy's Inc (M) expects third-quarter comparable sales to be down 0.5% to up 0.5%, a slowdown from the second quarter's 2.7% growth.
- The company anticipates a third-quarter adjusted diluted EPS loss of $0.19 to $0.23, reflecting increased investments and seasonal factors.
- Macy's Inc (M) continues to face softness in plus sizes, intimates, and women's sleepwear categories.
- Big-ticket categories remain soft compared to the prior year, despite some improvement from the first quarter.
- Tourism levels remain well below pre-pandemic levels, representing a persistent headwind for Macy's Inc (M)'s city stores.
(video playing)
Greetings and welcome to the Macy's, Inc. second-quarter 2026 earnings conference call. (Operator Instructions) As a reminder, this call is being recorded.
It is now my pleasure to turn the floor over to Caitlin Howell, Vice President of Investor Relations. Thank you. Please go ahead.
' -
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 2026 press release, a Form 8-K has been filed with the Securities and Exchange Commission, and a 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 2025. All references to our prior expectations, outlook or guidance refer to information provided on our June 3, 2026, earnings call.
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