Macy's Posts Fifth Straight Quarter of Comparable Sales

Macy's Inc. Has delivered five consecutive quarters of comparable sales growth, with a 2.7 percent increase in its fiscal second quarter of 2026. The department store operator's net sales reached $4.9 billion as its strategic overhaul shows signs of gaining traction.

Adjusted EBITDA improved to $457 million, up from $373 million a year earlier. Growth was recorded across the company's portfolio, led by its Bloomingdale's banner, which achieved its highest-ever second-quarter sales volume. The core Macy's brand and the Bluemercury beauty chain also posted gains.

Turnaround Strategy Gains Traction

Chairman and CEO Tony Spring attributed the results to investments under the company's "Bold New Chapter" plan. He cited the ongoing development of its Reimagine store locations and enhancements to product assortments. "As we enter the second half of the year, we remain focused on scaling what is resonating most with customers, exciting brands and assortments and compelling events and experiences," Spring said. The company now expects full-year 2026 net sales between $21.675 billion and $21.825 billion, raising its previous forecast.

Neil Saunders, managing director at GlobalData, told Inside Retail the results indicate a fundamental shift. "It is now undeniable that Macy’s has pulled itself out of the spiral of decline that used to plague the business," Saunders stated. He noted positive changes in customer metrics like satisfaction and share of wallet, but cautioned that more work is needed to strengthen profitability.

The Reimagine Store Effect

A key component of the turnaround is the Reimagine store program. Christine Russo, a retail consultant, said these approximately 200 updated locations are reviving the shopping experience through better staffing, modernized visual merchandising, and improved layouts. These stores continue to outperform the wider Macy's chain. Russo also highlighted that data-driven curation of the brand portfolio is leading to higher sell-through rates.

Barney Stacher, CEO of consultancy Retail OCD, argued the results prove a specific point. "Macy’s results suggest the department store isn’t dead, the mediocre department store is," he said. Customers will visit, Stacher explained, when merchandise feels fresh and the environment is cared for.

Challenges to Sustaining Momentum

Despite the progress, experts warn the path forward requires careful execution. The stronger growth at Bloomingdale's and Bluemercury shows Macy's Inc. Has a successful premium playbook but has not yet fully translated it to its core brand. Stacher called the 1.9 percent growth at the namesake Macy's chain a "proof of concept, not a victory lap."

The challenge is to scale what works in the Reimagine stores without losing local relevance. Stacher said the core Macy's brand needs a sharper assortment, more new products, and let staff to give customers a clear reason to visit. He also noted that a $96 million tariff refund contributed to the quarter, making improved full-price selling the cleaner long-term test. The upcoming holiday season will be a critical indicator of whether the reinvention is genuine or a temporary uptick.