Filing Flows › Macy's (M) › Q2 FY27
Macy's (M) Q2 FY27 earnings results (second quarter fiscal 2027)
10-Q filed Sep 10, 2026
Macy's (M) reported revenue of $5.1B for the second quarter fiscal 2027 (Q2 FY27), +1% from a year earlier and +3% from the quarter before. Operating margin was 4.8%, net earnings $169M (3.3% of revenue).
Macy's, Q2 FY27: revenue $5.1B (+1% year over year), operating margin 4.8%, net earnings $169M, operating cash flow $294M. The chart follows the revenue to costs, profit and cash.
| Q2 FY27 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $5.1B | +3% | +1% |
| Operating profit | $244M | +118% | +64% |
| Net earnings | $169M | +168% | +94% |
| Operating cash flow | $294M | +0.7% | -8% |
| Free cash flow | $229M | +12% | -5% |
What changed
Revenue was $5.1B in Q2 FY27, up 1% year over year and up 3% from the previous quarter.
Operating profit was $0.24B, a 4.8% margin (up 1.8 points year over year). Of the extra revenue versus Q2 FY26, 158% reached operating profit, above the 3% margin then. Total costs fell 1% while revenue rose 1%. Net earnings were $0.17B, up 94% year over year. The effective tax rate was 25.6%.
Operating cash flow was $0.29B (down 8% year over year), 174% of net earnings. Non-cash charges added back $0.21B of depreciation and amortization and $0.02B of share-based compensation. Working capital and other items used $0.10B. Capital expenditures of $0.07B left free cash flow of $0.23B.
Questions
What was Macy's revenue in the second quarter fiscal 2027?
Macy's (M) reported revenue of $5.1B for the second quarter fiscal 2027 (Q2 FY27), +1% from a year earlier and +3% from the quarter before.
Was Macy's profitable in the second quarter fiscal 2027?
Operating profit was $244M (4.8% of revenue) and net earnings $169M.
Source: Macy's 10-Q on SEC EDGAR.