10-Q · June 4, 2026
Macy's, Inc. reported Q1 2026 results with revenues of $4.89 billion, up 1.8% from $4.59 billion in the previous year and slightly beating estimates of $4.61 billion. The company’s EPS came in at $0.23, exceeding…
Earnings analysis · 10-Q
M earnings analysis
Filed September 10, 2026 · Our reading of the company's report
The latest report
Macy’s reported revenue of $4.866 billion and EPS of $0.40 for the period based on the supplied earnings data, but the 10-Q excerpt provided does not include the income statement, segment disclosures, balance sheet,…
Read full summary
Macy’s reported revenue of $4.866 billion and EPS of $0.40 for the period based on the supplied earnings data, but the 10-Q excerpt provided does not include the income statement, segment disclosures, balance sheet, cash flow statement, or MD&A needed to assess operating trends in detail. The filing documents $2.244 million shares repurchased at an average price of $22.29 and $1.024 billion remaining under the authorization. Risk factors were unchanged from the 2025 Form 10-K, and no quantitative guidance was included in the supplied filing text.
Gross and operating margin
How much of each revenue dollar the business keeps.
One point per quarterly or annual filing. Both margins are shares of that report's revenue.
How we read each report
Our analysis across the last few reports.
Our model's reading of each filing, not the share price or the market's reaction. Annual and quarterly reports each occupy one position.
Reported figures
- Earnings per share
- $0.4
What stood out
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Share repurchases continued
The company repurchased 2.244 million shares during the second quarter at an average price of $22.29 per share, including 2.243 million shares under its authorized program.
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$1.024 billion buyback capacity remains
As of August 1, 2026, $1,024 million remained available under the company’s $2,000 million share-repurchase authorization, preserving substantial capital-allocation flexibility.
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Disclosure controls deemed effective
Management concluded that disclosure controls and procedures were effective as of August 1, 2026, providing reasonable assurance over required SEC reporting.
What to watch
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Existing risk profile remains unchanged
The filing states that no material changes were made to the risk factors disclosed in the company’s 2025 Form 10-K, so previously identified risks remain applicable rather than being reduced.
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Repurchase pace may fluctuate
The company retains $1,024 million of authorized repurchase capacity, but the filing states it may continue, discontinue, or resume purchases without prior notice; capital returns could therefore vary over time.
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Indebtedness remains a stated risk
The forward-looking statement section identifies the company’s level of indebtedness as a risk, but the supplied excerpt does not disclose a current debt balance or a quantitative change versus the prior period.
Management's outlook
The supplied 10-Q excerpt does not provide quantitative revenue or EPS guidance. The previously reported outlook was provided in the September 10, 2026 earnings release rather than the filing excerpt.
Earlier filings 4
10-K · March 27, 2026
Macy’s 10-K emphasizes continued execution of its “Bold New Chapter” strategy (now in its second year) with 125 reimagined Macy’s locations and investments to accelerate Bloomingdale’s and Bluemercury. The filing shows…
10-Q · June 5, 2025
Macy’s reported total revenue of $4,793 million for the 13 weeks ended May 3, 2025, down from $5,000 million a year earlier, with net income of $38 million and diluted EPS of $0.13 (versus $62 million and $0.22 a year…
10-Q · December 12, 2024
Macy’s reported quarter of $4,903 million total revenue for the 13 weeks ended November 2, 2024, down from $5,038 million in the prior-year quarter; operating income fell to $64 million from $83 million and diluted EPS…
This is our reading of a public filing, not the filing itself. Analysis can contain errors; check the source document for full context.