Macy’s turnaround efforts are beginning to show tangible results, with retail analyst Neil Saunders saying the company is now on a more stable footing after years of hiccups.
The retailer reported a 1.8 per cent increase to $4.7 billion in net sales, with comparable sales up 3 per cent for the first quarter, exceeding its guidance and extending a run of stronger-than-expected performances.
Comparable sales at Macy’s rose 1.6 per cent during the quarter, while its Reimagine 200 stores delivered comparable sales growth of 2.4 per cent.
Meanwhile, Bloomingdale stores continued to outperform, posting a 10.2 per cent increase in comparable sales and marking its seventh consecutive quarter of growth, while Bluemercury recorded a 6.4 per cent gain.
“Macy’s ‘Bold New Chapter’ is off to a bold start in 2026,” said Saunders, MD of GlobalData.
“Even total sales, which usually decline because of store closures, are up by 1.8 per cent. This is nonetheless an achievement as it shows that the business is stabilising and now has a solid foundation on which to build.”
According to Saunders, Macy’s has been putting more effort into improving the customer experience, from department remodels and stronger private-label ranges to more inspiring product presentations in categories such as home.
“Generally better standards also mean that Macy’s can be more ambitious in terms of its partnerships with brands and its development of its own-label,” he said.
“All these things should serve to further strengthen and differentiate the business over the years ahead.”
Macy’s chairman and CEO, Tony Spring, said the company’s customer-focused strategy continues to gain momentum.
“We’re off to a strong start to the year, exceeding expectations for the fifth consecutive quarter as our Bold New Chapter strategy continues to build momentum,” he said.
“We’re focusing on what matters most – our customers. With the power of our multi-brand, multi-category, multi-generational portfolio, we’re confident in our path to sustainable, profitable growth.”
