Macy’s Bold New Chapter — Can Reimagined Stores Sustain The Sales Rebound?

Macy’s, Inc. reported first quarter fiscal 2026 results that indicate a continuation of its multi-year strategic initiative, the Bold New Chapter, which aims to revitalize the company through three main pillars: strengthening and reimagining Macy’s stores, accelerating luxury offerings at Bloomingdale’s and Bluemercury, and simplifying and modernizing end-to-end operations. The company achieved its strongest first quarter comparable sales growth since 2022 at 3%, with all three nameplates—Macy’s, Bloomingdale’s, and Bluemercury—reporting positive comparable sales increases of 1.6%, 10.2%, and 6.4%, respectively. This broad-based operational progress helped the company exceed earnings guidance and deliver adjusted earnings per share (EPS) of $0.13, above the high end of its prior outlook. Net sales rose 1.8% to $4.7 billion, representing growth for the first time since the pandemic, with adjusted EBITDA margins also surpassing expectations.