Macy's, Inc. reported its financial results for the third quarter and the first nine months of fiscal 2025, revealing a decline in both net sales and profitability compared to the previous year. For the 13 weeks ended November 1, 2025, the company recorded net sales of $4.713 billion, a decrease of 0.6% from $4.742 billion in the same period last year. Total revenue for the quarter was $4.913 billion, slightly up from $4.903 billion in the prior year. However, net income fell to $11 million, or $0.04 per diluted share, down from $28 million, or $0.10 per diluted share, in the third quarter of 2024.
In the first nine months of fiscal 2025, Macy's net sales totaled $14.125 billion, a decline of 2.8% from $14.525 billion in the same period of 2024. Total revenue for the nine-month period was $14.705 billion, down from $14.999 billion. Net income for the 39 weeks ended November 1, 2025, was $135 million, or $0.48 per diluted share, compared to $240 million, or $0.85 per diluted share, in the previous year. The decrease in sales and profitability was attributed primarily to the closure of 64 non-go-forward locations, which accounted for approximately $490 million of the decline in net sales.
Strategically, Macy's is executing its "A Bold New Chapter" initiative, which focuses on enhancing the customer experience and optimizing its store footprint. The company has reimagined 125 locations, which have shown improved performance compared to the rest of the fleet. Additionally, Macy's has introduced new product lines and expanded partnerships with brands such as Rodd & Gunn and Prada Beauty. The company also reported a strong performance from its luxury segment, with Bloomingdale's achieving its highest comparable sales growth in 13 quarters.
Operationally, Macy's has made significant investments in its supply chain, including the opening of a new fulfillment center that incorporates automation and artificial intelligence. The company reported a 2.5% increase in comparable sales on an owned basis for the third quarter, with notable growth in categories such as fine jewelry and handbags. Digital sales accounted for 32% of total net sales, consistent with the previous year. The company ended the quarter with a cash balance of $447 million, an increase from $315 million a year earlier, and has access to a $2.1 billion asset-based credit facility.
Looking ahead, Macy's anticipates continued challenges due to market conditions and the impact of store closures. However, the company remains focused on its strategic initiatives to drive growth and improve operational efficiency. The management expressed confidence in its ability to navigate the current retail landscape and is committed to enhancing shareholder value through ongoing investments and capital allocation strategies.
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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