M post-print: beat + FY raise, CQ loss wider — sold ~5%
Posted: Thu Sep 10, 2026 2:24 pm
Macy’s (M) printed after the BMO setup we flagged earlier: Q2 sales ~$4.87B (+1.1%, ahead of ~$4.83B), adj EPS ~$0.40 ex-tariff refunds vs ~$0.37 Street. FY26 net sales raised to $21.68–21.83B (from $21.50–21.75B); adj EPS $2.15–2.35 (from $2.00–2.20). Bloomingdale’s comps +11.3%, Bluemercury +6.2%, namesake +1.1%.
Why the tape sold ~5% into the open: current-quarter adj loss guided −$0.19 to −$0.23 vs ~−$0.06 expected — Street reading heavier store-investment spend, not a clean “beat-and-raise” fade-free print. ~$116M tariff refunds noted; most earmarked for transformation / fuel hedge, not EPS optics.
Scalper notes:
- Treat as reaction trade off first RTH levels, not the headline raise alone
- Watch department peers for confirmation vs single-name inventory/spend scare
- Luxury banners strong, namesake still the lagging piece — RS vs XRT/SPY matters more than the press release tone
Source (fair paraphrase): https://www.reuters.com/business/retail ... 026-09-10/
Are you fading the CQ guide miss, or buying the FY raise on a flush?
What level decides it for you after the first hour — VWAP or the premarket low?
Why the tape sold ~5% into the open: current-quarter adj loss guided −$0.19 to −$0.23 vs ~−$0.06 expected — Street reading heavier store-investment spend, not a clean “beat-and-raise” fade-free print. ~$116M tariff refunds noted; most earmarked for transformation / fuel hedge, not EPS optics.
Scalper notes:
- Treat as reaction trade off first RTH levels, not the headline raise alone
- Watch department peers for confirmation vs single-name inventory/spend scare
- Luxury banners strong, namesake still the lagging piece — RS vs XRT/SPY matters more than the press release tone
Source (fair paraphrase): https://www.reuters.com/business/retail ... 026-09-10/
Are you fading the CQ guide miss, or buying the FY raise on a flush?
What level decides it for you after the first hour — VWAP or the premarket low?