Filing Flows › Macy's (M) › Q1 FY26
Macy's (M) Q1 FY26 earnings results (first quarter fiscal 2026)
10-Q filed Jun 5, 2025
Macy's (M) reported revenue of $4.8B for the first quarter fiscal 2026 (Q1 FY26), -4% from a year earlier and -40% from the quarter before. Operating margin was 2.0%, net earnings $38.0M (0.8% of revenue).
Macy's, Q1 FY26: revenue $4.8B (-4% year over year), operating margin 2.0%, net earnings $38.0M, operating cash flow −$64.0M. The chart follows the revenue to costs, profit and cash.
| Q1 FY26 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $4.8B | -40% | -4% |
| Operating profit | $94.0M | -81% | -25% |
| Net earnings | $38.0M | -89% | -39% |
| Operating cash flow | −$64.0M | -105% | — |
What changed
Revenue was $4.8B in Q1 FY26, down 4% year over year and down 40% from the previous quarter.
Operating profit was $0.09B, a 2.0% margin (down 0.5 points year over year). Total costs fell 4% while revenue fell 4%. Net earnings were $0.04B, down 39% year over year. The effective tax rate was 44.1%.
Operating cash flow was −$0.06B. Non-cash charges added back $0.22B of depreciation and amortization and $0.01B of share-based compensation. Working capital and other items used $0.33B. Capital expenditures of $0.10B exceeded it, leaving free cash flow of −$0.16B.
Questions
What was Macy's revenue in the first quarter fiscal 2026?
Macy's (M) reported revenue of $4.8B for the first quarter fiscal 2026 (Q1 FY26), -4% from a year earlier and -40% from the quarter before.
Was Macy's profitable in the first quarter fiscal 2026?
Operating profit was $94.0M (2.0% of revenue) and net earnings $38.0M.
Source: Macy's 10-Q on SEC EDGAR.