Comparable sales gained as adjusted income fell in Macy’s fourth quarter, although the company still managed to beat Wall Street estimates.
Net income was $507 million, or $1.84 per diluted share, versus $342 million, or $1.21 per diluted share, in the year-before quarter. Adjusted for one-time events, net income was $458 million, or $1.67 per diluted share, versus $507, or $1.80 per diluted share, in the year-previous period.
An analyst consensus estimate from Zacks Investment Research called for earnings per adjusted diluted share of $1.53 and revenues of $7.52 billion.
According to Macy’s, overall comparable sales increased 1.8%. By segment, Macy’s banner go-forward comparable sales growth, excluding stores planned for closing, was up 0.6%, while Bloomingdale’s comps gained 9.9%, and Bluemercury comps grew 1.3%.
Net sales were $7.64 billion versus $7.77 billion in the year-prior quarter while total revenue was $7.92 billion versus $8.01 billion, the company reported. Operating income was $745 million versus $500 million in the year-earlier period.
For the full fiscal year, net income was $642 million, or $2.32 per diluted share, versus $582 million, or $2.07 per diluted share, in the year before. Adjusted net income was $643 million, or $2.32 per diluted share, versus $745, or $2.64 per diluted share, in the year previous.
Net sales were $21.76 million versus $22.29 million in the year prior while total revenue was $22.62 billion versus $23.01 billion, Macy’s stated. Operating income was $1.03 billion versus $909 million in the year earlier.
In posting its outlook for the current fiscal year, Macy’s set net sales at $21.4 billion to $21.65 billion and adjusted earnings per share of $1.90 to $2.10.
“As we wrap up year two of the ‘Bold New Chapter,’ I’m pleased with the growth and progress we’re making against our strategic priorities,” said Tony Spring, Macy’s chairman and CEO. “At Macy’s, we are offering more relevant brands, stronger storytelling and investing in our colleagues so we can better serve the customer. Bloomingdale’s exceptional performance underscores its ability to elevate the customer experience and capture demand across premium contemporary to luxury businesses. Looking to 2026 and beyond, we are ready to build on our progress.”
