Macy's Analysts Boost Their Forecasts After Upbeat Q2 Results

Macy’s Inc. M reported better-than-expected second-quarter earnings and raised its fiscal outlook on Wednesday.

The retailer reported net sales of $4.81 billion for the quarter, down 2.5% year over year, beating the consensus of $4.76 billion and the management guidance of $4.65 billion-$4.75 billion. Macy’s reported adjusted earnings of 41 cents per share compared to the consensus of 18 cents and 53 cents a year ago, surpassing the management guidance of 15-20 cents per share.

"Our teams achieved better than expected top- and bottom-line results during the second quarter, driven by our strongest comparable sales growth in 12 quarters, reflecting the strong performance in Macy's Reimagine 125 locations, Bloomingdale's and Bluemercury," said Tony Spring, Macy's chairman and CEO.

Macy's revised its annual guidance to reflect the second quarter of 2025 performance and the anticipated gross margin impact of current tariffs in the third and fourth quarters.

The retailer raised its 2025 earnings guidance from $1.60-$2.00 to $1.70-$2.05 versus the consensus of $1.79. The company also raised its sales guidance from $21 billion-$21.4 billion to $21.15 billion-$21.45 billion compared to the consensus of $21.47 billion.

Macy's shares gained 4% to trade at $16.92 on Thursday.

These analysts made changes to their price targets on Macy's following earnings announcement.

Jefferies analyst Ashley Helgans maintained Macy’s with a Buy and raised the price target from $14.5 to $18.5.
UBS analyst Jay Sole maintained Macy’s with a Sell and raised the price target from $6 to $6.5.
Barclays analyst Paul Kearney maintained Macy’s with an Equal-Weight rating and raised the price target from $12 to $15.
Citigroup analyst Paul Lejuez maintained the stock with a Neutral and raised the price target from $12 to $16.
Goldman Sachs analyst Brooke Roach maintained Macy’s with a Neutral and raised the price target from $13 to $14.5.

Considering buying M stock? Here’s what analysts think: