Shares of Macy's, Inc. (M) are up more than 14% Thursday morning following better-than-expected second-quarter results.
The company reported net income of $345 million or $1.08 per share in the second quarter compared with net loss of $431 million or $1.39 per share in the same quarter a year ago.
Excluding items, adjusted EPS of $1.29 beat the average estimate of 12 analysts polled by Thomson Reuters at $0.14 per share.
Net sales in the quarter increased to $5.647 billion from $3.559 billion last year. The consensus estimate was for $4.98 billion.
Looking forward to the full year, the company has raised its outlook.
Net sales are expected between $23.55 billion and $23.95 billion, up from $21.73 billion - $22.23 billion provided previously. Adjusted EPS is expected in the range of $3.41 - $3.75 compared with $1.71 - $2.12 guided earlier.
Analysts expect the company to report earnings of $2.24 per share on revenue of $22.12 billion.
Macy's shares are trading at $20.68, close to its 52-week high of $22.30.
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April 24, 2026 15:15 ET Economics news flow was relatively light this week even as the conflict in the Middle East continued, raising concerns for policymakers. In the U.S., spending data, initial jobless claims and pending home sales were the highlights. Business confidence in the biggest euro area economy was in focus in Europe. Inflation data from Japan gained attention in Asia.