Macy's Inc. (M) EPS Q4 2025 (USD): Adj. EPS 1.67 (exp. 1.58), Revenue 7.6bln (exp. 7.50bln). FY adj. EPS view 1.90-2.10 (exp. 2.20), revenue view 21.4-21.65bln (exp. 21.1bln).

• Comp sales +1.8%
• Go-forward comparable sales growth of 2.0%.

• It recognizes that there are macroeconomic and geopolitical factors that could influence discretionary spend. As such, the company is taking a prudent approach to guidance, giving flexibility within its business model to respond to changes in the competitive landscape and external environment. Guidance assumes the first half of the year will have a larger tariff impact than the second half, with the first quarter having the most meaningful impact.
• Q1 26 EPS view -0.01 to +0.01 (exp. 0.17), revenue view 4.575-4.625bln (exp. 4.44bln)

Macy's Q4 earnings report showed an adjusted EPS beat expectations, indicating solid performance amidst challenges. However, the FY guidance reflects a cautious stance, revising estimates downwards due to anticipated macroeconomic and geopolitical impacts on consumer spending, particularly in the first half of the year. This could provoke a reevaluation of retail sector health and affect investor sentiment toward discretionary stocks.