Macy's Turnaround Plan Gains Momentum Amidst Challenges

Macy's management reported at the Goldman Sachs Global Consumer and Retail Conference that their turnaround plan is gaining momentum. The company faces tough sales comparisons, tariff pressure, and a cautious consumer but says its 'A Bold New Chapter' strategy is lifting sales and improving the shopping experience.

The Reimagine store program now covers 60% of the store base, representing 75% of Macy's store business. The company has posted five straight quarters of net sales growth and six quarters of beating Street guidance. Key takeaways from the conference include raised full-year earnings guidance to $2.15 to $2.35 a share and lifted sales outlook.

Bloomingdale's, a major focus of the call, has posted double-digit growth in the last two quarters of 2025 and about 9% growth overall, marking four straight quarters of strong performance. The brand remains nicely profitable and has room to grow through new stores, digital and physical retail.