Macy's raised its full-year 2026 sales, margin and earnings guidance after second-quarter comparable sales rose 2.7% and adjusted earnings, excluding the tariff-refund benefit, climbed 14% year over year. The retailer now expects 2026 net sales of $21.675-$21.825 billion, up from $21.5-$21.75 billion previously, with comparable sales projected to rise 1-1.5% versus the earlier 0.5-1.2% range and an adjusted EBITDA margin of 7.8-8%. Adjusted earnings are now projected at $2.15-$2.35 per share compared with $2-$2.20 earlier, following a second quarter in which net sales increased 1.1% to $4.866 billion and adjusted EBITDA rose to $457 million from $373 million. The near-term picture is softer, with third-quarter net sales guided to $4.65-$4.70 billion, comparable sales between a 0.5% decline and 0.5% growth, an adjusted EBITDA margin of 3.7-4% and an adjusted loss of 19-23 cents per share, while fiscal 2025 store closures create roughly a $30 million third-quarter sales comparison headwind. Macy's now expects tariffs and fuel to reduce full-year gross margin by only five-15 basis points versus 20-30 basis points previously, but plans to reinvest $96 million of its $116 million tariff refunds, including $82 million in the third quarter, with full-year SG&A dollars expected to rise 1.5-2.25%.
Macy’s IncMacy's raised full-year 2026 sales, margin and EPS guidance after Q2 comparable sales rose 2.7% and adjusted earnings climbed 14%.
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