Macy’s Turnaround Gains Steam With Q3 Beat

Benzinga

Macy’s beat Q3 expectations with $4.71 billion in revenue and 9 cents in adjusted EPS, raising full-year guidance as its turnaround gains traction. Bloomingdale’s posted a 9% comp increase and Bluemercury rose 1.1%, though selective spending and tariffs will pressure the holiday season. Shares are up about 34% year to date.

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00:00It's Benzinga, bringing Wall Street to Main Street.

00:03Macy's reported fiscal third quarter revenue of $4.71 billion and adjusted earnings of $0.09

00:09per share, beating Wall Street estimates, according to CNBC. The results marked its

00:14third consecutive quarterly sales beat as its turnaround strategy gained traction.

00:19The department store chain raised its full-year outlook, projecting adjusted earnings of $2

00:24to $2.20 per share, and net sales of $21.48 billion to $21.63 billion after a stronger-than-expected

00:32third quarter. Macy's said about $700 million of its projected annual sales decline reflects

00:39previously announced store closures. They noted that selective consumer spending and higher

00:44tariffs will continue to pressure the holiday quarter. Bloomingdale's lead brand performance

00:48with a 9% comparable sales increase, while Blue Mercury comps rose 1.1%.

00:52Macy's shares are up roughly 34% year-to-date.

00:56For all things money, visit Benzinga.com.

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