Macy’s Posts 1.9% Drop in Sales, Sees 42% Decline in Q2 Profits

Macy’s adjusts sales and reduces profit in the second quarter. The American department store group closed the second quarter (period ended August 2) with a turnover of 4,999 million dollars, 1.9% less than in the same period of the previous year, and a net profit of 87 million, a drop of 42%.

The group’s gross operating profit (ebitda) also fell by 15.5% to 371 million dollars. The gross margin stood at 39.7% of revenue, a drop of eight-tenths of a percent compared to the second quarter of 2024.

In the first half of the year, sales of the US department store group, owner of the Bloomingdale’s and Bluemercury chains, fell by 3% to 9,791 million dollars, while profit was 124 million, down 41.5%.

In the first half of the year, Macy’s sales fell by 3% and profit by 41.5%.

“We achieved better-than-expected revenue and profit results in the second quarter thanks to a boost from the strongest comparable sales growth in twelve quarters, reflecting the solid performance of the 125 Macy’s Reimagine, Bloomingdale’s and Bluemercury stores in the 125 Macy’s Reimagine, Bloomingdale’s and Bluemercury stores.Macy’s Reimagine, Bloomingdale’s and Bluemercury stores,“ said Macy’s Chairman and Chief Executive Officer Tony Spring.

For the full year 2025, Macy’s has upgraded forecasts and now forecasts sales to close between 21.15 and 21.45 billion dollars, while its adjusted earnings per diluted share expectation would be between 1.70 and 2.05 dollars (1.46 and 1.76 euros).

The group closed the 2024 financial year, which ended on February 1, with a net profit of 582 million dollars, almost thirteen times more than in the previous year, and a turnover of 23,006 million dollars, 3.4% less.