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 in the consumer discretionary sector, known for its department stores and online shopping....

Key Metrics to Watch

EPS

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

$0.03

Revenue

Total revenue reflects the overall sales performance and consumer demand, which is vital for understanding Macy's market position.

$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 in the consumer discretionary sector, known for its department stores and online shopping. As a key player in broadline retail, Macy's is influenced by trends in consumer spending and shifts in shopping habits, especially as the retail landscape evolves post-pandemic.

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 Q4 2025, Macy's reported an EPS of $1.67, exceeding expectations and reflecting strong performance. The stock reacted positively, gaining 4.73% the next day.

Management Promises & Guidance

Expectations

Wall Street Expectations

Analysts are cautiously optimistic about Macy's upcoming earnings, expecting a modest profit and stable revenue. The consensus EPS is low, indicating that expectations are tempered.

Bull Case

If Macy's can exceed the low EPS estimate and show strong revenue growth, it could signal a recovery in consumer spending and boost investor confidence.

Bear Case

However, if the company fails to meet even the low expectations, it could raise concerns about ongoing challenges in the retail sector and lead to a negative market reaction.

Key Metrics to Watch

EPS

$0.03

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

Revenue

$4.6B

Total revenue reflects the overall sales performance and consumer demand, which is vital for understanding Macy's market position.

Expectations

Two Questions That Matter

The print will turn on these two things.

Will Macy's achieve an EPS of at least $0.03?

This figure is critical as it sets the tone for the company's profitability and could influence investor sentiment.

How does revenue compare to the expected $4.6B?

Revenue performance will indicate consumer demand and the effectiveness of Macy's sales strategies.

Edge

What the Street Is Missing

Why consensus could be wrong

The Street may underestimate Macy's ability to leverage its online sales growth, which could drive better-than-expected results this quarter.

Supporting Evidence

Macy's has shown a strong EPS beat rate of 88% in recent quarters, indicating potential for positive surprises.

The options market is pricing a larger move than historical averages, suggesting heightened expectations that could be based on recent performance trends.

Key Risk

If revenue comes in significantly above $4.6B, it could challenge the current bearish sentiment.

Edge

Thesis-Break Levels

Pre-commit to what would confirm each case.

The market is weighing Macy's ability to navigate current retail challenges against its historical performance.

Bull Confirmed If

An EPS of $0.09 or higher would confirm strong earnings momentum and consumer demand.

Bear Confirmed If

An EPS below $0.03 would signal ongoing struggles in the retail environment.

Pre-Earnings Positioning

Options Market

Implied Move

±9.81%

Historical Avg

±5.8%

Pricing rich

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

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 positive stock reaction of around +2.22%, confirming a recovery narrative.

In-Line / Cautious

An in-line report may lead to a muted response, as investors look for reassurance in management's commentary.

Miss

If Macy's misses expectations, the stock could drop by about -0.84%, reflecting concerns about its competitive position.

Earnings Track Record

Preparation

What to Listen For

Call Prep

1Any updates on online sales growth and its impact on overall revenue.
2Management's commentary on consumer spending trends and inventory management.
3Insights into cost management strategies and their effect on profitability.
4Details on any new initiatives or promotions aimed at boosting sales.
5Responses to competitive pressures in the retail sector.

See the full picture

AI-powered briefs, options data, and 20 quarters of history — everything you need before earnings.

No charge today · Auto-bills $8/mo after 7 days · Cancel anytime

More Earnings This Week

5 Reports

Jun1

SAICBMO

Science Applications International Corporation

PreviewView

Jun1

CRDOAMC

Company Snapshot

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

Key Metrics to Watch

EPS

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

$0.03

Revenue

Total revenue reflects the overall sales performance and consumer demand, which is vital for understanding Macy's market position.

$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 Q4 2025, Macy's reported an EPS of $1.67, exceeding expectations and reflecting strong performance. The stock reacted positively, gaining 4.73% the next day.

Management Promises & Guidance

Expectations

Wall Street Expectations

Analysts are cautiously optimistic about Macy's upcoming earnings, expecting a modest profit and stable revenue. The consensus EPS is low, indicating that expectations are tempered.

Bull Case

If Macy's can exceed the low EPS estimate and show strong revenue growth, it could signal a recovery in consumer spending and boost investor confidence.

Bear Case

However, if the company fails to meet even the low expectations, it could raise concerns about ongoing challenges in the retail sector and lead to a negative market reaction.

Key Metrics to Watch

EPS

$0.03

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

Revenue

$4.6B

Total revenue reflects the overall sales performance and consumer demand, which is vital for understanding Macy's market position.

Expectations

Two Questions That Matter

The print will turn on these two things.

Will Macy's achieve an EPS of at least $0.03?

This figure is critical as it sets the tone for the company's profitability and could influence investor sentiment.

How does revenue compare to the expected $4.6B?

Revenue performance will indicate consumer demand and the effectiveness of Macy's sales strategies.

Edge

What the Street Is Missing

Why consensus could be wrong

The Street may underestimate Macy's ability to leverage its online sales growth, which could drive better-than-expected results this quarter.

Supporting Evidence

Macy's has shown a strong EPS beat rate of 88% in recent quarters, indicating potential for positive surprises.

The options market is pricing a larger move than historical averages, suggesting heightened expectations that could be based on recent performance trends.

Key Risk

If revenue comes in significantly above $4.6B, it could challenge the current bearish sentiment.

Edge

Thesis-Break Levels

Pre-commit to what would confirm each case.

The market is weighing Macy's ability to navigate current retail challenges against its historical performance.

Bull Confirmed If

An EPS of $0.09 or higher would confirm strong earnings momentum and consumer demand.

Bear Confirmed If

An EPS below $0.03 would signal ongoing struggles in the retail environment.

Pre-Earnings Positioning

Options Market

Implied Move

±9.81%

Historical Avg

±5.8%

Pricing rich

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

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 positive stock reaction of around +2.22%, confirming a recovery narrative.

In-Line / Cautious

An in-line report may lead to a muted response, as investors look for reassurance in management's commentary.

Miss

If Macy's misses expectations, the stock could drop by about -0.84%, reflecting concerns about its competitive position.

Earnings Track Record

Preparation

What to Listen For

Call Prep

1Any updates on online sales growth and its impact on overall revenue.
2Management's commentary on consumer spending trends and inventory management.
3Insights into cost management strategies and their effect on profitability.
4Details on any new initiatives or promotions aimed at boosting sales.
5Responses to competitive pressures in the retail sector.