Macy's, Inc. reported a net income of $63 million for the first quarter of fiscal 2026, a significant increase from $38 million in the same period last year. The company's total revenue rose to $4.892 billion, up from $4.793 billion in the first quarter of 2025, marking a 2.1% increase. Net sales, which primarily consist of retail sales, increased by 1.8% to $4.682 billion, driven by growth across all three of its nameplates: Macy's, Bloomingdale's, and Bluemercury. The company also reported basic earnings per share of $0.24, compared to $0.14 in the prior year, reflecting improved profitability.
In terms of operational performance, Macy's saw a 3.0% increase in comparable sales, with notable contributions from Bloomingdale's, which experienced a 10.2% rise in comparable sales. The company's digital sales accounted for 34% of total net sales, up from 33% in the previous year. The first quarter also marked the highest net promoter score for Macy's in its history, indicating improved customer satisfaction. The company has been actively implementing its "Bold New Chapter" strategy, which focuses on enhancing the customer experience and optimizing store operations, including the reimagining of 200 locations.
Macy's has made strategic investments in its product offerings, introducing new brands such as Rothy's and expanding existing lines. The company also reported a 2.0% increase in selling, general, and administrative expenses, attributed to ongoing investments in its go-forward business and the Reimagine 200 initiative. Despite these increases, the gross margin rate slightly declined to 38.9%, impacted by tariff costs, although it would have remained stable without this factor.
The company's balance sheet showed a cash and cash equivalents balance of $1.294 billion as of May 2, 2026, an increase from $932 million a year earlier. Macy's has access to a $2.1 billion asset-based credit facility, with $1.958 billion available for borrowing. The company repurchased approximately 2.6 million shares of its common stock during the quarter, totaling around $50 million, and has $1.1 billion remaining under its share repurchase authorization. Looking ahead, Macy's remains optimistic about its growth trajectory, supported by its strategic initiatives and improved operational metrics.
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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