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Macy’s surges after crushing Q2 expectations and lifting full-year outlook

The department store chain is capitalizing on loyal shoppers and its luxury chains to push a turnaround.

Nia Warfield

Macy’s shares soared after the legacy department store chain posted knockout Q2 results and raised its full-year guidance.

Adjusted earnings per share came in at $0.41, more than double the $0.19 analysts polled by FactSet expected. Revenue hit $4.8 billion, topping Wall Street’s $4.7 billion estimate. Same-store sales rose 0.8%, Macy’s best comp growth in 12 quarters and well ahead of analysts’ forecasts for a 0.5% decline.

Macy’s also lifted its full-year guidance. The retailer now expects adjusted earnings of $1.70 to $2.05, compared with its prior $1.60 to $2.00 outlook and the Street’s $1.79 forecast. Annual revenue is now pegged between $21.15 billion and $21.45 billion, up from the company’s previous range of $21.0 billion to $21.4 billion.

The stock was up 15% in early trading.

CEO Tony Spring said he saw “strong performance” at Bloomingdale’s, Bluemercury, and stores that were part of its ‘Reimagine 125’ rollout, which gave a makeover to 125 core stores with upgraded dressing rooms, refreshed layouts, more staff, and sharper assortments.

Still, the company flagged some pressure as margins got squeezed by spring inventory markdowns and product bought under prior tariff rates. Management also warned that persistent tariffs, inflation, and cautious consumer spending could still be impactful through year-end.

Prior to the earnings release, Macy’s shares were down about 18.5% year to date.

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Nike sinks to lowest level since 2014 after warning of “challenged” sales environment in Q4 report

Did Nike do it?

Investors had a mixed reaction after the global sports apparel company reported its fourth quarter earnings on Tuesday after the bell. Shares initially rose 5% as Nike beat out Wall Street expectations amid a hefty tariff refund bonus. However, the stock then sank to its lowest level since August 2014 in postmarket trading.

Here are the Q4 numbers:

  • Revenue of $11.0 billion (estimate: $10.8 billion).

  • Adjusted earnings per share of $0.20 (estimate: $0.12).

Ahead of this report, Nike warned that results would be flattered by a one-time tariff refund (now estimated at roughly $0.52 per share for the bottom line). That gave the company an extra cushion in snapping its streak of seven quarters of year-over-year profit declines.

Over the past year, the company had been punished by tariffs on imported goods, stagnant consumer spending, and increasing competition from other footwear brands like New Balance, Adidas, and Hoka.

Outgoing CFO Matthew Friend deemed it an “increasingly challenging operating environment, where sell-through remains challenged.”

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