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Macy’s, Inc. operates Macy’s, Bloomingdale’s and Bluemercury, with customers shopping in stores, on websites and through mobile apps. Macy’s serves a broad customer base and accounts for most of the company’s merchandise sales. Bloomingdale’s focuses on affluent shoppers, while Bluemercury sells luxury beauty products and spa services. Customer purchases provide nearly all company revenue.
The company also earns fees and a share of profits from Macy’s and Bloomingdale’s credit cards. Citibank issues the cards and owns the receivables, so this income depends on that partnership and the card portfolio’s performance rather than Macy’s lending directly to shoppers. Brand partners also pay to advertise through Macy’s Media Network. Privacy laws limit how the company can collect and use customer data.
The business depends heavily on holiday shopping, with sales and earnings concentrated late in the year. Macy’s builds inventory before that period, so choosing the right merchandise and stock levels matters: excess stock can require discounts that cut margins, while shortages mean missed sales.
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Every company claims an edge. Each one is checked against hard numbers like margins and returns: which hold, and which line gives way first.
Dillard’s competes closely with Macy’s for shoppers buying fashion, accessories, cosmetics and home furnishings in department stores and online. Its women’s apparel and cosmetics sales are useful comparisons for Macy’s business in those same categories.
Kohl’s competes with Macy’s for overlapping department-store shoppers, selling national-brand apparel, footwear, beauty and home goods. Its moderately priced clothing and home assortment makes those categories the ones to watch when comparing the two.
Burlington competes with Macy’s, especially Backstage, for shoppers seeking discounted branded clothing, shoes, accessories and home goods. Watch its ability to keep current-season merchandise fresh at low prices: it buys much of its stock during the season rather than committing before it starts.
Target competes with Macy’s for shoppers’ discretionary clothing and home purchases, combining style and value in a broader assortment that also includes groceries. Its news on design-led apparel and home ranges is more relevant to Macy’s than its grocery business.
Gap competes with Macy’s for family clothing spending through Old Navy, Gap and Banana Republic, spanning value to higher-priced apparel. Compare those brands’ clothing sales with Macy’s women’s, men’s and children’s apparel business.
Amazon competes with Macy’s stores and online business by offering shoppers a broad choice of its own and third-party merchandise, low prices and convenient delivery. Watch its retail selection and delivery offering: digital sales accounted for approximately 35% of Macy’s net sales in 2025.
Urban Outfitters competes with Macy’s for fashion, accessories and home purchases through Anthropologie, Free People and its namesake stores and websites. Its retail sales are the relevant comparison, rather than Nuuly’s monthly clothing-rental fees or its wholesale sales.
Abercrombie & Fitch competes with Macy’s apparel departments through Abercrombie and Hollister, selling casual fashion in stores and online. In fiscal 2025, most Abercrombie-brand sales came through digital channels, while most Hollister sales came through stores—two distinct comparisons for Macy’s clothing business.
American Eagle Outfitters competes with Macy’s apparel departments for casual clothing and accessory purchases through American Eagle and Aerie. Watch those brands’ direct sales to shoppers through stores and online when assessing the competition facing Macy’s clothing business.
Dillards Inc. earningsDDS
Dillard’s’ report will show how demand for women’s apparel and cosmetics is changing in categories where it competes directly with Macy’s.
Look at Dillard’s sales in women’s apparel and cosmetics. Strength in both would point to support for fashion demand shared with Macy’s; weakness in both would suggest shoppers are pulling back in those overlapping categories, putting more pressure on Macy’s comparable merchandise.
Retail Sales MoM (Oct)
Retail sales track how much consumers spend at stores, supporting Macy’s merchandise sales across its stores, websites and apps.
Stronger retail sales suggest consumers are spending more, which may support purchases across Macy’s stores and digital channels; weaker sales suggest less spending and may pressure those sales.
Macy's Inc. earningsThis company
Macy’s’ report will show whether shoppers are buying more in its stores and online, and whether tariffs and promotions are still squeezing merchandise margins.
Read comparable sales alongside the gross margin rate, the share of sales left after merchandise costs. Sales growth with a steadier rate would show customer demand is absorbing tariff and promotion pressure; weaker sales with a further decline would show demand or pricing is not keeping up with costs, making it harder for Macy’s to earn from merchandise.
