Macy's Bold New Chapter strategy is gaining traction, with enterprise comparable sales rising 3% in the first quarter of fiscal 2026, the strongest first-quarter performance in four years. All three nameplates delivered positive growth, and management raised its 2026 outlook after net sales, comparable sales, adjusted EBITDA, and adjusted earnings per share exceeded expectations. The Reimagine store initiative expanded by 75 locations to 200 stores, which now represent nearly 60% of the go-forward Macy's fleet and accounted for about 75% of fiscal 2025 go-forward Macy's store sales, posting 2.4% comparable sales growth. Luxury banners Bloomingdale's and Bluemercury added stability, with comparable sales up 10.2% and 6.4% respectively, while digital sales represented 34% of net sales. However, tariffs reduced gross margin by about 30 basis points, and store closures are expected to create a $145-million annual sales headwind, with inventory rising 3.6% to $4.8 billion, adding markdown risk.
Macy’s IncEnterprise comparable sales rose 3%, strongest Q1 in four years, with all nameplates positive and raised outlook
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