Macy's, Inc.
- Open
- 22.10
- Day high
- 22.77
- Day low
- 22.10
- Prev close
- 21.93
- Volume
- 6.6M
- Mkt cap
- $5.9B
- P/E (TTM)
- 9.1
- EPS (TTM)
- $2.47
- P/B
- 1.2
- P/S
- 0.3
- Yield
- 3.34%
- Per share
- $0.75
- ▼Insiders net selling -$667K over the last 3 months (0 open-market buys, 2 sales)
- 🏛Institutions mixed (13F)
Macy's, Inc. (M) is a Consumer Cyclical company listed on NYSE. The stock is up 38% over the past year. Over the trailing 3 months, insiders filed 0 open-market buys and 2 sales (SEC Form 4). Drillr has 1 published research article covering M.
Macy's, Inc. (M) financials & analyst ratings
Fundamentals (TTM)
Analyst consensus · 6 analysts
Source: exchange market data + company filings. Figures are trailing-twelve-month or as most recently reported. For informational purposes only — not investment advice.
M earnings date, history & EPS estimates
| Report date | EPS est | EPS actual | Surprise | Revenue | Rev. surprise |
|---|---|---|---|---|---|
| Jun 3, 2026 | $0.02 | $0.13 | +550.0% | $4.7B | +1.4% |
| Mar 18, 2026 | $0.03 | $1.67 | +4842.3% | $7.9B | +66.0% |
| Dec 3, 2025 | $-0.13 | $0.09 | +168.8% | $4.9B | +7.7% |
| Sep 3, 2025 | $0.20 | $0.41 | +110.3% | $5.0B | +9.9% |
| May 28, 2025 | $0.15 | $0.16 | +6.0% | $4.8B | +8.0% |
| Mar 6, 2025 | $1.58 | $1.80 | +14.1% | $8.0B | +76.1% |
| Dec 11, 2024 | $-0.01 | $0.04 | +500.0% | $4.9B | +3.3% |
| Aug 21, 2024 | $0.30 | $0.53 | +77.9% | $5.1B | -0.3% |
| May 21, 2024 | $0.15 | $0.27 | +80.0% | $5.0B | +3.7% |
| Feb 27, 2024 | $2.00 | $2.45 | +22.6% | $8.4B | +2.9% |
| Nov 16, 2023 | $1.96 | $0.21 | -89.3% | $5.0B | -36.9% |
| Aug 22, 2023 | $0.13 | $0.26 | +100.0% | $5.3B | +3.3% |
M insider trading activity (SEC Form 4)
| Date | Insider | Type | Shares | Price |
|---|---|---|---|---|
| Jul 1, 2026 | MARKEE RICHARD Ldirector | Grant | 1,322 | — |
| Jun 26, 2026 | Griscom Paulofficer: SVP and Controller | Sell | 10,077 | $25.63 |
| Jun 24, 2026 | Edwards Thomas Jr.officer: EVP, COO & CFO | Sell | 16,419 | $24.89 |
| Jun 24, 2026 | Edwards Thomas Jr.officer: EVP, COO & CFO | Option | 36,419 | — |
| Jun 8, 2026 | Chavez Robert B.director | Grant | 8,348 | — |
| Jun 8, 2026 | Chandoha Marie Adirector | Grant | 8,348 | — |
| Jun 8, 2026 | Connelly Deirdre Pdirector | Grant | 8,348 | — |
| Jun 8, 2026 | Granoff Jilldirector | Grant | 8,348 | — |
| Jun 8, 2026 | VARGA PAUL Cdirector | Grant | 8,348 | — |
| Jun 8, 2026 | Boone Torrencedirector | Grant | 8,348 | — |
| Jun 8, 2026 | MARKEE RICHARD Ldirector | Grant | 8,348 | — |
| Jun 8, 2026 | Arel Emiliedirector | Grant | 8,348 | — |
| Jun 8, 2026 | CHOPRA NAVEEN K.director | Grant | 8,348 | — |
| Apr 7, 2026 | Bron Olivierofficer: CEO, Bloomingdale's | Sell | 7,228 | $17.92 |
| Apr 7, 2026 | Preston Tracy Mofficer: EVP, CLO & Corporate Secretary | Option | 13,146 | — |
Source: M SEC Form 4 filings, latest Jul 1, 2026. For informational purposes only — not investment advice.
See the full M insider & 13F page →Macy's, Inc. company profile
Overview
Macy's, Inc. (NYSE:M) is one of America's oldest and most recognizable department store retailers, tracing its origins back to 1830 when Rowland Hussey Macy opened his first dry goods store in New York City. Originally known as Federated Department Stores, Inc., the company adopted the Macy's name in 2007 following its acquisition of the iconic Macy's brand. Today, Macy's operates as an omni-channel retail organization with hundreds of department stores across the United States, along with international licensing agreements in the Middle East. The company has evolved from a traditional brick-and-mortar retailer into a multi-brand retail enterprise that combines physical stores with digital commerce platforms.
Business
Macy's operates in the department store industry, which represents a traditional retail format that offers a wide variety of merchandise categories under one roof. Department stores historically served as anchor tenants in shopping malls and downtown areas, providing customers with a convenient one-stop shopping experience for clothing, accessories, cosmetics, and home goods. The company operates through three primary business segments, each targeting different customer demographics and price points: 1. **Macy's Nameplate** (approximately 75-80% of total revenue): This flagship brand operates traditional department stores and includes several sub-formats. The main Macy's stores offer a broad assortment of apparel, accessories, cosmetics, home furnishings, and other consumer goods for men, women, and children. Macy's Backstage provides off-price merchandise, while Market by Macy's represents a smaller-format store concept designed for off-mall locations. 2. **Bloomingdale's** (approximately 15-20% of total revenue): This luxury department store chain caters to affluent customers seeking premium and designer merchandise. Bloomingdale's operates full-line stores and outlet locations under the Bloomingdale's The Outlet banner, focusing on advanced contemporary fashion, luxury brands, and high-end beauty products. 3. **Bluemercury** (approximately 5% of total revenue): This beauty and spa retailer specializes in prestige cosmetics, skincare, and wellness services. Bluemercury operates standalone stores and provides professional beauty services, representing Macy's entry into the specialized beauty retail market. The department store industry faces significant challenges from changing consumer shopping habits, the growth of e-commerce, and competition from specialty retailers and discount chains. Traditional department stores have struggled with declining foot traffic in malls and the need to adapt to omni-channel retail expectations.
Revenue model
Macy's generates revenue primarily through direct product sales across its three retail banners, operating on a traditional retail markup model where merchandise is purchased wholesale and sold at retail prices. The company's revenue streams include in-store sales, online sales through its websites and mobile applications, and ancillary services. The company's customers are primarily middle to upper-middle-class consumers, with Bloomingdale's targeting affluent shoppers and Bluemercury focusing on beauty enthusiasts willing to pay premium prices for prestige products. Macy's has developed a credit card program that generates additional revenue through financing charges and helps build customer loyalty. Several factors significantly impact Macy's profit margins and overall financial performance. **Positive margin drivers** include the company's private brand portfolio, which offers higher margins than national brands, and its Macy's Media Network, which generates advertising revenue from brands seeking to reach Macy's customer base. The company's real estate portfolio also provides opportunities for asset monetization through property sales or redevelopment partnerships. **Negative margin pressures** come from multiple sources. Promotional activity and markdowns are necessary to clear inventory and remain competitive, but they erode gross margins. The shift toward digital sales, while strategically important, typically carries lower margins than in-store purchases due to fulfillment and shipping costs. Rising labor costs, supply chain expenses, and the need for continued technology investments also pressure profitability. Additionally, the company faces ongoing challenges from changing consumer preferences, with customers increasingly favoring experiences over material goods and shopping at specialized retailers or online platforms rather than traditional department stores. The seasonal nature of retail means that fourth-quarter holiday sales are crucial for annual profitability, making the company vulnerable to economic downturns or consumer spending shifts during this critical period.
Competitive moat
Macy's competitive moat is relatively weak and has been eroding over time, reflecting the broader challenges facing traditional department stores. The company's historical advantages have been significantly diminished by structural changes in retail. **Remaining competitive advantages** include the iconic Macy's brand recognition, particularly for special occasions and holiday shopping traditions like the Macy's Thanksgiving Day Parade. The company maintains valuable real estate locations in major metropolitan areas, some of which have significant redevelopment potential. Macy's also has an established customer database and credit card program that provides insights into shopping behavior and creates some customer stickiness. **Significant competitive threats** come from multiple directions. E-commerce giants like Amazon offer superior convenience, selection, and often better prices. Specialty retailers such as Sephora (beauty), Target and Walmart (general merchandise), and off-price retailers like TJX Companies provide more focused or value-oriented alternatives. Fast fashion retailers and direct-to-consumer brands have captured market share, particularly among younger consumers. The fundamental challenge is that department stores were designed for an era when consumers had fewer shopping options and valued the convenience of finding multiple product categories in one location. Today's consumers often prefer specialized retailers for specific needs or the convenience of online shopping. The company's attempts to modernize through store renovations, digital investments, and new store formats represent necessary but costly efforts to remain relevant. Macy's lacks the pricing power of luxury retailers, the convenience advantage of e-commerce platforms, or the cost structure advantages of discount retailers, leaving it in a challenging middle position where differentiation is difficult to achieve and maintain.
Risks & safety
Macy's presents moderate financial risk with mixed safety indicators: **Overall Assessment**: The company maintains adequate liquidity but faces ongoing operational challenges and elevated debt levels. • **Liquidity**: Current ratio of 1.43 and $1.3 billion in cash provides reasonable short-term financial flexibility • **Debt Burden**: Debt-to-equity ratio of 1.25 indicates significant leverage, though manageable given asset base • **Cash Generation**: Positive free cash flow of $1.2 billion in fiscal 2024 demonstrates ability to generate cash from operations • **Valuation**: Trading at attractive multiples with P/E of 3.2 and EV/EBITDA of 3.2, suggesting market pessimism may be overdone • **Solvency Risk**: Low immediate bankruptcy risk given cash position and asset base, but ongoing operational challenges require monitoring • **Asset Base**: Substantial real estate holdings provide potential asset monetization opportunities, though at potentially discounted values in current retail environment
Recent development
Over the past few years, Macy's has implemented its "Bold New Chapter" strategic transformation plan, representing the most significant restructuring in the company's recent history. The strategy focuses on three main pillars: strengthening the Macy's nameplate, accelerating luxury growth, and simplifying operations. The company has committed to closing approximately 150 underproductive Macy's stores by the end of fiscal 2026, representing about 25% of its square footage but less than 10% of sales. Simultaneously, Macy's is investing heavily in its "First 50" stores, which have shown promising results with positive comparable sales growth and improved customer satisfaction scores. These locations receive enhanced staffing, better merchandise assortments, and improved visual presentations. In the luxury segment, both Bloomingdale's and Bluemercury have demonstrated strong performance, with Bloomingdale's achieving 6.5% comparable sales growth and Bluemercury maintaining 6.2% growth in fiscal 2024. The company continues expanding these higher-margin formats, opening new Bloomingdale's locations and growing Bluemercury's footprint with 17 new stores in 2024. Macy's has also launched several digital initiatives, including the development of a marketplace platform, expansion of its Macy's Media Network advertising business (which grew 27.6% in one quarter), and improvements to its e-commerce capabilities. The company is reimagining its private brand portfolio, moving away from purely price-focused offerings toward brands that emphasize design and quality differentiation. Additionally, Macy's is exploring asset monetization opportunities, leveraging its valuable real estate portfolio through potential sales or redevelopment partnerships to generate capital for reinvestment in the business.
M company profile · for informational purposes only — not investment advice.
Track M with Drillr
SEC filings, earnings calls, insider activity, alt-data signals — all queryable through Drillr's AI terminal and MCP API.
Try Drillr for free