Macy’s raises annual forecasts, reports first quarterly sales growth in nearly four years
Macy’s has raised its annual forecasts after reporting its first quarterly sales growth in nearly four years, driven by strong demand for high-end apparel. The results highlight a K-shaped recovery in U.S. consumer spending, with affluent shoppers continuing to spend on luxury goods. CEO Tony Spring emphasized the company's focus on higher-end labels and strategic store management as key components of their turnaround efforts.
- ▪Macy’s raised its fiscal 2026 net sales forecast to between $21.5 billion and $21.75 billion.
- ▪First-quarter sales rose 1.8 percent to $4.68 billion, ending a streak of 15 consecutive quarters of declines.
- ▪Comparable sales at Bloomingdale’s jumped 10.2 percent, while Macy’s namesake stores saw a 1.6 percent increase.
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ShareSave for laterPlease log in to bookmark this story.Log InCreate Free AccountMacy’s M-N raised its annual forecasts and posted its first quarterly sales growth in nearly four years on Wednesday, driven by strong demand for high-end apparel and accessories, particularly at its Bloomingdale’s stores.The results underscore the K-shaped recovery in U.S. consumer spending, with higher-income shoppers continuing to splurge on discretionary and luxury goods while lower-income households pull back amid rising economic uncertainty.Michael Kors owner Capri Holdings last month provided an upbeat annual profit target, while premium apparel brand Ralph Lauren beat quarterly sales estimates.“Customers are responding,” Macy’s CEO Tony Spring said, as he presses ahead with the “Bold New Chapter”…
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