Macy's Reports Mixed Q1 Results, Raises Annual Outlook Slightly as Shares Rise 3%

Macy's reported its fourth consecutive quarter of comparable sales gains and raised its annual outlook on June 3. The New York-based retailer said an overhaul of its merchandise and improved customer service drove the results. Shares rose more than 3% before the opening bell.

Comparable sales rose 3% in the first quarter ended May 2, the strongest first-quarter gain in four years. 8% increase in the final quarter of 2025. 4% increase.

Net income reached $63 million, or 23 cents per share, compared with $38 million, or 13 cents per share, a year earlier. Adjusted earnings per share of 13 cents beat Wall Street expectations by 10 cents, according to FactSet. 6 billion.

CEO Tony Spring, who took over in early 2024, said the company is operating with discipline and focusing on customers. "We're off to a strong start to the year," he said. Spring noted strong sales in prom dresses, men's shoes, dresses and fragrances, while furniture sales remained disappointing.

65 billion. 5% gain. 10.

6 billion, according to FactSet. Spring told The Associated Press the company is monitoring the uncertain economic environment but has seen no noticeable pullback in customer spending despite higher gasoline prices. Higher-income shoppers continue to spend freely, he said, while middle-income customers remain selective and lower-income shoppers focus on discounted merchandise.

ABC News reported that Macy's has closed unprofitable stores and spent millions modernizing others under Spring's leadership.