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Macy's (M) Q2 Earnings: Taking a Look at Key Metrics Versus Estimates

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For the quarter ended July 2026, Macy's (M - Free Report) reported revenue of $4.87 billion, up 1.1% over the same period last year. EPS came in at $0.40, compared to $0.41 in the year-ago quarter.

The reported revenue represents a surprise of +0.97% over the Zacks Consensus Estimate of $4.82 billion. With the consensus EPS estimate being $0.37, the EPS surprise was +8.11%.

While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health.

As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.

Here is how Macy's performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
  • Store Count - Bluemercury (EOP): 168 versus 171 estimated by four analysts on average.
  • Store Count - Total Macy's (EOP): 432 versus 432 estimated by four analysts on average.
  • Store Count - Consolidated Macy's, Inc. (EOP): 661 versus 666 estimated by three analysts on average.
  • Revenue- Net Sales: $4.87 billion versus the four-analyst average estimate of $4.82 billion. The reported number represents a year-over-year change of +1.1%.
  • Revenue- Other Revenue: $193 million versus the four-analyst average estimate of $200.24 million. The reported number represents a year-over-year change of +3.2%.
  • Revenue- Other Revenue- Credit card revenues, net: $156 million versus $166.19 million estimated by three analysts on average. Compared to the year-ago quarter, this number represents a +2% change.
  • Revenue- Other Revenue- Macy's Media Network revenue, net: $37 million versus $38.34 million estimated by three analysts on average. Compared to the year-ago quarter, this number represents a +8.8% change.

View all Key Company Metrics for Macy's here>>>

Shares of Macy's have returned -9.6% over the past month versus the Zacks S&P 500 composite's -1.4% change. The stock currently has a Zacks Rank #2 (Buy), indicating that it could outperform the broader market in the near term.

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