Macy's, Inc. reported a total revenue of $22.6 billion for the fiscal year ending January 31, 2026, a decrease of 1.7% from $23.0 billion in the previous year. The company's net sales fell to $21.8 billion, down from $22.3 billion in 2024, primarily due to the closure of underperforming stores, which accounted for approximately $700 million in sales in the prior year. Despite this decline, comparable sales on an owned-plus-licensed-plus-marketplace basis increased by 1.5%, indicating a slight improvement in customer engagement and sales performance across its brands.
The company's operating income rose to $1.03 billion, compared to $909 million in 2024, reflecting a stronger operational efficiency despite lower sales. Net income for the year was $642 million, or $2.32 per diluted share, up from $582 million, or $2.07 per diluted share, in the previous year. This increase in profitability was supported by a significant gain of $328 million from the settlement of credit card interchange fee litigation, which positively impacted the overall financial results.
Macy's continued to execute its "Bold New Chapter" strategy, focusing on enhancing the customer experience and modernizing its operations. The company reimagined 125 Macy's locations, which outperformed the rest of the fleet, and expanded its luxury offerings through Bloomingdale's and Bluemercury, achieving notable sales growth in these segments. The company also opened 12 new stores and invested in digital and technology capabilities, which contributed to a 35% share of digital sales in total net sales.
Operationally, Macy's employed approximately 90,134 full-time and part-time employees as of January 31, 2026, with a workforce that is 66% ethnically diverse. The company reported a net promoter score that reached its highest level on record, indicating improved customer satisfaction. However, the company faces ongoing challenges, including inflationary pressures, supply chain disruptions, and competition from both traditional and digital retailers, which could impact future performance.
Looking ahead, Macy's management expressed cautious optimism, emphasizing the importance of executing its strategic initiatives to drive sustainable growth. The company plans to continue investing in its digital transformation and operational efficiencies while navigating the complexities of the retail environment. The outlook remains contingent on macroeconomic conditions and consumer spending trends, which are critical to the company's recovery and growth trajectory.
About Macy's, Inc.
Macy's, Inc. is a leading American retailer operating department stores, including Macy's and Bloomingdale's, offering apparel, accessories, cosmetics, and home goods. It serves diverse customer segments across the U.S. and internationally through physical stores and digital platforms. The company emphasizes private label brands, omni-channel retailing, and real estate strategies to differentiate itself and drive growth in a highly competitive, seasonal, and global supply chain environment.
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