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Results at Macy’s were better than analysts predicted, as several categories delivered growth for the company, including fine jewelry, lab-grown diamonds and watches.
“Holiday destination categories, including fragrances, jewelry and handbags, outperformed,” Macy’s CEO Antony Spring said in an earnings call transcribed by Seeking Alpha. “While almost every category had positive comps in the quarter, standouts included fragrances, women’s contemporary, designer apparel and fine jewelry.”
Although sales slipped 1.7% to $7.64 billion in the fourth quarter, the result beat the company’s guidance. Meanwhile, profit for the 13 weeks that ended January 31 jumped 48% to $507 million, as the group closed underperforming stores and focused on elevating its brand through the renovation of over 125 locations and increased its luxury assortment, Macy’s said Wednesday.
Women’s clothing and accessories performed well at both Macy’s and Bloomingdale’s as consumers dressed up for a return to the workplace, the company explained.
“[We] continue to see strength in the dress business and the tailored-clothing business, which I think underscores the dress up and return to office, and the mix of both a little bit dressier and casual tops and bottoms,” Spring continued. “Seeing growth in the accessory category, particularly fine jewelry, lab-grown diamonds [and] watches. So we feel good that there’s a broad-based interest in fashion across a multitude of categories.”
Sales for the full year fell 2.4% to $21.76 billion. Profit rose 10% to $642 million. For the 2026 fiscal year, the retailer expects sales to be between $21.4 billion and $21.65 billion, it added.
Image: A Macy’s store in New York. (Shutterstock)
