Equity Profile

M

Macy's, Inc.

Consumer DiscretionaryBroadline Retail$6.3B

Jun3Wed

Pre-Earnings Brief

UpcomingQ1-2026Pre-Market9:00 AM EDT

Company Snapshot

Macy's, Inc. is a major retail company operating in the consumer discretionary sector, primarily known for its department stores....

Key Metrics to Watch

EPS

Earnings per share is a key indicator of profitability and will show how well Macy's is managing costs and sales.

$0.03

Revenue

Revenue figures provide insight into overall sales performance and consumer demand, which is vital for Macy's recovery post-pandemic.

$4.6B

Wall Street expectations, options signals, track record, and call prep available with Pro.

M Q1-2026 Earnings Preview

Context

Company Snapshot

Macy's, Inc. is a major retail company operating in the consumer discretionary sector, primarily known for its department stores. As consumer spending patterns evolve, Macy's plays a crucial role in the retail landscape, adapting to trends such as online shopping and changing customer preferences.

Earnings Scorecard·Last 8Q

EPS Beat Streak

EPS Beat Rate

88%

Avg EPS Surprise

+40.28%

Avg Stock Reaction

+1.84%

Last Quarter Recap

In the last quarter, Macy's reported an EPS of $1.67, exceeding expectations and showing a positive surprise of 9.36%. The stock reacted positively, gaining 4.73% the following day.

Management Promises & Guidance

Focus on enhancing online sales capabilities.
Commitment to improving inventory management.
Plans to expand product offerings to attract more customers.

Expectations

Wall Street Expectations

Analysts expect Macy's to report modest earnings this quarter, with a consensus EPS of $0.03 and revenue of $4.6 billion. The market is watching closely for any signs of recovery in consumer spending.

Bull Case

If Macy's can exceed the EPS estimate and show strong revenue growth, it could indicate a successful adaptation to changing retail dynamics, boosting investor confidence.

Bear Case

Conversely, if Macy's falls short of expectations, it could signal ongoing struggles in the retail sector, leading to a negative reaction from investors.

Key Metrics to Watch

EPS

$0.03

Earnings per share is a key indicator of profitability and will show how well Macy's is managing costs and sales.

Revenue

$4.6B

Revenue figures provide insight into overall sales performance and consumer demand, which is vital for Macy's recovery post-pandemic.

Expectations

Two Questions That Matter

The print will turn on these two things.

Will Macy's achieve an EPS of $0.03 or better?

This specific EPS target is critical as it reflects the company's ability to manage costs and generate profit in a challenging retail environment.

How will revenue compare to the expected $4.6 billion?

Revenue performance will indicate consumer demand and the effectiveness of Macy's sales strategies, which are vital for future growth.

Edge

What the Street Is Missing

Why consensus could be wrong

The consensus may underestimate Macy's ability to adapt to changing consumer preferences, particularly in online sales, which could lead to stronger-than-expected results.

Supporting Evidence

Macy's has shown a strong EPS beat rate of 88% in recent quarters.

The options market is pricing a larger move than the historical average, indicating heightened expectations.

Recent trends in consumer spending suggest a potential rebound in retail sales.

Key Risk

If Macy's reports strong online sales growth, it could challenge the current cautious sentiment in the market.

Edge

Thesis-Break Levels

Pre-commit to what would confirm each case.

The core debate this quarter revolves around Macy's ability to meet or exceed these critical financial targets amidst a fluctuating retail landscape.

Bull Confirmed If

An EPS of $0.03 or higher, with revenue exceeding $4.6 billion, would confirm a positive outlook for Macy's.

Bear Confirmed If

An EPS below $0.03 or revenue falling short of $4.6 billion would suggest ongoing challenges for the company.

Pre-Earnings Positioning

Options Market

Implied Move

±9.81%

Historical Avg

±5.8%

Pricing rich

The options market is pricing in a significant move around the earnings announcement, suggesting that traders expect volatility based on the results.

Options are pricing ±9.8% while M has averaged ±5.8% over the last 8 prints — setup is pricing rich.

Detail

ATM IV

1.0%

30d HV

40.5%

Calls (606K)P/C Ratio: 1.06Puts (246K)

Preparation

Post-Print Playbook

Likely market behavior by outcome — not investment advice.

Beat & Raise

If Macy's beats expectations, history suggests a potential average stock move of +2.22%, confirming a positive outlook for the company.

In-Line / Cautious

If results are in line with expectations, the stock may see muted reactions as investors weigh the commentary from management.

Miss

A miss on earnings could lead to a decline, with historical data suggesting an average drop of -0.84% following such outcomes.

Earnings Track Record

Preparation

What to Listen For

Call Prep

1Updates on online sales growth and strategies.
2Any changes in inventory management practices.
3Insights into consumer spending trends and how they affect sales.
4Management's outlook on future quarters and economic conditions.
5Details on new product offerings and marketing strategies.

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Company Snapshot

Macy's, Inc. is a major retail company operating in the consumer discretionary sector, primarily known for its department stores....

Key Metrics to Watch

EPS

Earnings per share is a key indicator of profitability and will show how well Macy's is managing costs and sales.

$0.03

Revenue

Revenue figures provide insight into overall sales performance and consumer demand, which is vital for Macy's recovery post-pandemic.

$4.6B

Wall Street expectations, options signals, track record, and call prep available with Pro.

M Q1-2026 Earnings Preview

Context

Company Snapshot

Earnings Scorecard·Last 8Q

EPS Beat Streak

EPS Beat Rate

88%

Avg EPS Surprise

+40.28%

Avg Stock Reaction

+1.84%

Last Quarter Recap

In the last quarter, Macy's reported an EPS of $1.67, exceeding expectations and showing a positive surprise of 9.36%. The stock reacted positively, gaining 4.73% the following day.

Management Promises & Guidance

Focus on enhancing online sales capabilities.
Commitment to improving inventory management.
Plans to expand product offerings to attract more customers.

Expectations

Wall Street Expectations

Bull Case

If Macy's can exceed the EPS estimate and show strong revenue growth, it could indicate a successful adaptation to changing retail dynamics, boosting investor confidence.

Bear Case

Conversely, if Macy's falls short of expectations, it could signal ongoing struggles in the retail sector, leading to a negative reaction from investors.

Key Metrics to Watch

EPS

$0.03

Earnings per share is a key indicator of profitability and will show how well Macy's is managing costs and sales.

Revenue

$4.6B

Revenue figures provide insight into overall sales performance and consumer demand, which is vital for Macy's recovery post-pandemic.

Expectations

Two Questions That Matter

The print will turn on these two things.

Will Macy's achieve an EPS of $0.03 or better?

This specific EPS target is critical as it reflects the company's ability to manage costs and generate profit in a challenging retail environment.

How will revenue compare to the expected $4.6 billion?

Revenue performance will indicate consumer demand and the effectiveness of Macy's sales strategies, which are vital for future growth.

Edge

What the Street Is Missing

Why consensus could be wrong

The consensus may underestimate Macy's ability to adapt to changing consumer preferences, particularly in online sales, which could lead to stronger-than-expected results.

Supporting Evidence

Macy's has shown a strong EPS beat rate of 88% in recent quarters.

The options market is pricing a larger move than the historical average, indicating heightened expectations.

Recent trends in consumer spending suggest a potential rebound in retail sales.

Key Risk

If Macy's reports strong online sales growth, it could challenge the current cautious sentiment in the market.

Edge

Thesis-Break Levels

Pre-commit to what would confirm each case.

The core debate this quarter revolves around Macy's ability to meet or exceed these critical financial targets amidst a fluctuating retail landscape.

Bull Confirmed If

An EPS of $0.03 or higher, with revenue exceeding $4.6 billion, would confirm a positive outlook for Macy's.

Bear Confirmed If

An EPS below $0.03 or revenue falling short of $4.6 billion would suggest ongoing challenges for the company.

Pre-Earnings Positioning

Options Market

Implied Move

±9.81%

Historical Avg

±5.8%

Pricing rich

The options market is pricing in a significant move around the earnings announcement, suggesting that traders expect volatility based on the results.

Options are pricing ±9.8% while M has averaged ±5.8% over the last 8 prints — setup is pricing rich.

Detail

ATM IV

1.0%

30d HV

40.5%

Calls (606K)P/C Ratio: 1.06Puts (246K)

Preparation

Post-Print Playbook

Likely market behavior by outcome — not investment advice.

Beat & Raise

If Macy's beats expectations, history suggests a potential average stock move of +2.22%, confirming a positive outlook for the company.

In-Line / Cautious

If results are in line with expectations, the stock may see muted reactions as investors weigh the commentary from management.

Miss

A miss on earnings could lead to a decline, with historical data suggesting an average drop of -0.84% following such outcomes.

Earnings Track Record

Preparation

What to Listen For

Call Prep

1Updates on online sales growth and strategies.
2Any changes in inventory management practices.
3Insights into consumer spending trends and how they affect sales.
4Management's outlook on future quarters and economic conditions.
5Details on new product offerings and marketing strategies.