Macy's, the iconic department store giant, is on the cusp of releasing its second-quarter financial results, a moment keenly observed by investors and market analysts alike. The forthcoming report will shed light on the company's performance, particularly in the face of evolving retail landscapes and consumer spending habits. This earnings release is poised to provide crucial insights into Macy's financial health, including its profitability and revenue generation, shaping future expectations and market sentiment for the retail sector.
Macy's Q2 Financial Outlook and Analyst Revisions
On Wednesday, September 3, 2025, before the market's opening bell, Macy's Inc. (NYSE: M) is scheduled to disclose its earnings for the second fiscal quarter. According to data compiled by Benzinga Pro, market analysts have set their expectations for the retail behemoth, forecasting earnings per share to be approximately 19 cents, a notable decline from the 53 cents reported in the corresponding period of the previous year. Furthermore, the anticipated quarterly revenue stands at $4.7 billion, a reduction from $4.94 billion recorded a year ago.
In a recent development, on August 22, the company's board of directors announced a regular quarterly dividend of 18.24 cents per share, signaling a commitment to shareholder returns amidst the anticipated earnings report. Following this announcement, Macy's shares experienced a modest upward trend, concluding Tuesday's trading session at $13.49, marking a 2% increase.
Leading Wall Street analysts have recently adjusted their ratings and price targets for Macy's, reflecting their updated perspectives on the company's valuation and prospects. On August 27, 2025, Dana Telsey of Telsey Advisory Group maintained a Market Perform rating, upholding a price target of $14. Matthew Boss from JP Morgan revised his stance on July 28, 2025, keeping a Neutral rating but elevating the price target from $12 to $16. Citigroup's Paul Lejuez, on May 29, 2025, also maintained a Neutral rating while increasing his price target from $11 to $12. Conversely, on May 6, 2025, Alex Straton of Morgan Stanley reiterated an Equal-Weight rating but lowered the price target from $14 to $12. Finally, Brooke Roach of Goldman Sachs downgraded Macy's from Buy to Neutral on April 22, 2025, simultaneously reducing the price target from $17 to $12. These analysts, recognized for their accuracy by Benzinga, collectively offer a diverse range of outlooks on Macy's immediate future.
This upcoming earnings announcement and the analysts' recalibrated projections underscore the dynamic nature of the retail sector and the ongoing scrutiny faced by established department store chains. Investors will be closely monitoring Macy's official report to gauge its strategic adjustments and resilience in navigating the competitive market.
From a journalist's perspective, the impending earnings report for Macy's serves as a critical barometer for the health of traditional retail in a rapidly evolving consumer landscape. The consistent adjustments in analyst ratings, ranging from maintained positions to slight increases and even downgrades in price targets, highlight the uncertainty and volatility inherent in this sector. It prompts a deeper reflection on whether the modest stock increase prior to the earnings release is indicative of underlying strength or merely speculative buoyancy. The challenge for Macy's, and indeed for many heritage brands, lies not just in meeting quarterly expectations but in demonstrating a robust, long-term strategy that can adapt to digital transformation and shifting consumer preferences. The true test of their performance will be measured not just in numbers, but in their capacity to innovate and redefine the retail experience for a new generation of shoppers.