Macy's, Inc. reported its financial results for the second quarter and first half of fiscal 2026, revealing a total revenue of $5.059 billion for the 13 weeks ended August 1, 2026, a 1.2% increase from $4.999 billion in the same period last year. Net income for the quarter was $169 million, or $0.62 per diluted share, compared to $87 million, or $0.31 per diluted share, in the prior year. For the first half of 2026, total revenue reached $9.951 billion, up from $9.791 billion, with net income increasing to $232 million from $124 million in the previous year.
The company experienced notable growth in net sales, which rose to $4.866 billion for the second quarter, a 1.1% increase from $4.812 billion in the same quarter of 2025. This growth was attributed to comparable sales increases across all nameplates, with Macy's, Bloomingdale's, and Bluemercury all contributing positively. Digital sales remained stable, accounting for 31% of total net sales in both the current and prior year periods. The gross margin rate improved to 41.5%, up from 39.7% in the previous year, primarily due to approximately $95 million in gross tariff refunds.
Strategically, Macy's has focused on enhancing its customer experience and product offerings. The company has reimagined 200 locations, which now represent about 60% of its store fleet and 75% of its sales. This initiative has led to positive comparable sales growth in nine of the last ten quarters. Additionally, the company has expanded its luxury assortment at Bloomingdale's, achieving record sales for the second quarter, and has introduced new brands to its merchandise lineup. The launch of an AI-powered shopping assistant, "Ask Macy's," aims to further engage customers across channels.
Operationally, Macy's reported a cash and cash equivalents balance of $1.294 billion as of August 1, 2026, an increase from $829 million a year earlier. The company also noted a reduction in its employee headcount, reflecting ongoing efforts to streamline operations. The Amended & Extended ABL Credit Facility provides $2.1 billion in liquidity, with $1.958 billion available as of the end of the reporting period. Looking ahead, Macy's remains optimistic about its growth trajectory, emphasizing continued investments in technology and customer engagement initiatives to drive long-term profitability.
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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