Macy's delays Q3 earnings release and conference call
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Nov 25 2024
0mins
Should l Buy M?
Investigation Findings: An independent investigation revealed that a former employee at Macy's intentionally manipulated accounting entries to conceal $132 to $154 million in delivery expenses from Q4 2021 to November 2024, while the company reported $4.36 billion in delivery expenses during that period.
Earnings Release Delay: Macy's is postponing its third-quarter earnings release and conference call to complete the investigation, with plans to report results by December 11, 2024, emphasizing their commitment to ethical conduct and customer service during this time.
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Analyst Views on M
Wall Street analysts forecast M stock price to rise
12 Analyst Rating
2 Buy
9 Hold
1 Sell
Hold
Current: 19.540
Low
8.00
Averages
21.33
High
27.00
Current: 19.540
Low
8.00
Averages
21.33
High
27.00
About M
Macy's, Inc. is an omni-channel retail company. The Company operates stores, websites and mobile applications under three brands, Macy's, Bloomingdale's and Bluemercury, which sell a range of merchandise, including apparel and accessories (men's, women's and kids'), cosmetics, home furnishings and other consumer goods. The Company has stores in 43 states, the District of Columbia, Puerto Rico and Guam. Its operations are conducted through Macy's, Macy's Backstage, Macy's small format, Bloomingdale's, Bloomingdale's The Outlet, Bloomie's, and Bluemercury. In addition, Bloomingdale's in Dubai, United Arab Emirates and Al Zahra, Kuwait are operated under a license agreement with Al Tayer Insignia. The principal private label brands offered by the Company include Alfani, And Now This, Aqua, Bar III, Cerulean 6, Charter Club, Club Room, Epic Threads, first impressions, Giani Bernini, Holiday Lane, Home Design, Hotel Collection, Hudson Park, Ideology, I-N-C, jenni, JM Collection, and others.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
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- Investment Commitment: Amazon's pledge of $35 billion in India last year aims to digitize 12 million small businesses and enhance logistics infrastructure, demonstrating confidence in future market potential despite online shopping accounting for only 1.6% of GDP.
- User Growth Trend: According to Deloitte, India's e-commerce market experienced a compound annual growth of 23% from 2020 to 2025, with projections indicating it will reach $250 billion by 2030, highlighting both user growth and increased spending per shopper.
- Rise of Small City Consumers: Deloitte reports that over 60% of online shoppers come from smaller cities, marking a decisive shift in consumer dynamics and driving e-commerce order growth, indicating a rapid increase in purchasing power among these consumers.
- Quick Commerce Model: Amazon's quick commerce service, Amazon Now, sees a 25% month-over-month order growth, with Prime members tripling their shopping frequency, underscoring the significance of rapid delivery in meeting the demands of consumers in smaller cities.
See More
Bloomingdale's CEO Sells Macy's Shares Amid Strong Performance
- Transaction Overview: On April 6, 2026, Bloomingdale's CEO Olivier Bron disposed of 7,228 shares of Macy's common stock through option exercise and immediate sale, with a transaction value of approximately $130,000, indicating a routine liquidity management approach.
- Holding Change Analysis: This transaction reduced Bron's direct holdings by 25.08%, yet he retains 21,590 shares along with a substantial balance of restricted stock units and outstanding options, suggesting ongoing alignment with Macy's equity performance.
- Market Performance Context: The shares were sold at a weighted average price of $17.92, reflecting a total return of 74.7% over the past year, highlighting the company's positive financial trajectory amid a competitive retail landscape.
- Investor Confidence: While the sale raised eyebrows, it primarily served to cover tax obligations, and with Macy's exceeding fourth-quarter sales expectations, investors can maintain confidence in the stock, anticipating further growth potential ahead.
See More
Bloomingdale's CEO Sells Macy's Shares Amid Positive Earnings
- Transaction Overview: On April 6, 2026, Bloomingdale's CEO Olivier Bron exercised 13,146 options and sold 7,228 shares of Macy's common stock for approximately $130,000, based on a weighted average sale price of $17.92 per share, resulting in a 25.08% reduction in direct holdings to 21,590 shares.
- Tax Obligation Coverage: The sale was executed to cover tax withholding obligations related to the vesting of 13,146 restricted stock units, indicating that this transaction is not a negative signal for investors but rather a strategic move during a period of rising stock prices.
- Financial Performance Highlights: Macy's reported Q4 net sales of $7.6 billion for the fiscal year 2026, with total revenue down to $7.9 billion compared to $8 billion last year; however, a comparable store sales growth of 1.8% exceeded expectations, showcasing the effectiveness of its “Bold New Chapter” strategy.
- Cash Flow Improvement: By the end of its 2026 fiscal year, Macy's free cash flow improved to $797 million, up from $679 million the previous year, strengthening its ability to maintain a robust 4% dividend yield, making it an attractive option for income investors.
See More
Bloomingdale's CEO Sells Macy's Shares Amid Strong Performance
- Transaction Overview: On April 6, 2026, Bloomingdale's CEO Olivier Bron disposed of 7,228 shares of Macy's, Inc. (NYSE:M) common stock through option exercise and immediate sale, totaling approximately $130K, which reduced his direct holdings by 25.08%, indicating a need for liquidity management.
- Financial Performance: Macy's reported net sales of $7.6 billion for Q4 2026, with total revenue down to $7.9 billion from $8 billion last year, yet a comparable store sales growth of 1.8% exceeded expectations, showcasing the effectiveness of the company's
See More
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- Surge in Apparel Demand: Approximately 80% of GLP-1 users anticipate needing new clothing due to size changes, with a Circana survey revealing that 55% of active users have already purchased new items, indicating a fresh wave of consumer spending in the apparel market.
- Significant Market Potential: Bernstein estimates that GLP-1 users could purchase between 150 million and 700 million apparel items due to weight loss, translating to an additional $13 billion in annual spending in the U.S. apparel sector, highlighting robust market demand.
- Brands Adapting to Change: Retailers like Stitch Fix have launched targeted marketing campaigns for weight loss users, with client mentions of weight loss requests tripling over the past two years, demonstrating brands' proactive adaptation to this emerging trend.
- Shift in Consumer Behavior: An increasing number of consumers are opting for more affordable clothing during their weight loss journey, with Destination XL's CEO noting that about 25% of their customers are using GLP-1 drugs, leading to a preference for cost-effective options.
See More
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- Export Decline: India's textile exports from April 2025 to February 2026 totaled $29.5 billion, a slight drop from $29.8 billion the previous year, indicating the fragility of recovery in an industry aiming for $100 billion in exports by 2030.
- Rising Costs: The Iran war has driven raw material and packaging costs up, with polyester prices increasing over 40% since the conflict began, complicating companies' ability to pass costs onto customers and impacting production and profitability.
- Weak Demand: Although tariff relief from the U.S. provided temporary respite, industry leaders warn that a prolonged war could dampen U.S. consumer demand, leading to declining sales and rising inventories, posing significant challenges for retailers.
- Production Cuts: Companies like Filatex have already reduced production by 25% and are awaiting demand recovery, with widespread concerns that failure to pass on costs could lead to larger-scale production cuts, further affecting employment and economic growth.
See More
