Macy's raises annual forecast after posting second-quarter profit and sales growth

The short version

• Macy's reported second-quarter net income of $169 million and a 2.7% gain in total comparable sales.[CNBC]
• Higher-end division Bloomingdale's saw comparable sales increase 11.3%, while Bluemercury rose 6.2% and the namesake brand grew 1.1%.[CNBC]
• The retailer raised its full-year guidance for both net sales and earnings per share while directing $96 million from tariff refunds into its turnaround plan.[CNBC]

Key facts

• Macy's reported second-quarter net income of $169 million, or 62 cents per share, up from $87 million, or 31 cents per share, in the prior year.[CNBC]
• Total comparable sales climbed 2.7%, with Bloomingdale's up 11.3%, Bluemercury up 6.2%, and Macy's namesake stores up 1.1%.[CNBC]
• Full-year net sales are now projected at $21.68 billion to $21.83 billion, alongside an adjusted earnings outlook of $2.15 to $2.35 per share.[CNBC]
• The company received $116 million in tariff refunds and plans to channel approximately $96 million into customer initiatives and its turnaround.[CNBC]

Sources

Outlet counts describe coverage, not independent confirmation. Reports may share a wire service or original source.

• Macy's posts strong results, raises guidance as turnaround begins to take holdCNBC