Macy's Inc. (NYSE:M) on Wednesday reported better-than-expected fourth quarter financial results and issued guidance.

The department store reported fourth-quarter adjusted earnings of $1.67, beating the consensus of $1.53. Sales decreased to $7.6 billion, beating the consensus of $7.615 billion.

"Bloomingdale's exceptional performance underscores its ability to elevate the customer experience and capture demand across premium contemporary to luxury businesses," said Tony Spring, chairman and CEO of Macy's.

Macy's expects fiscal 2026 adjusted earnings of $1.90-$2.10 per share, compared to the consensus of $2.17. The store operator forecasts 2026 annual sales of $21.4 billion-$21.65 billion compared to the consensus of $21.42 billion.

Macy's estimates first quarter earnings to range between a loss of 1 cent and earnings of 1 cent per share, compared to the consensus of 18 cents. It expects sales of $4.575 billion-$4.625 billion compared to the consensus of $4.59 billion.

Macy's shares fell 0.3% to trade at $17.66 on Thursday.

These analysts made changes to their price targets on Macy's following earnings announcement.

  • Telsey Advisory Group analyst Dana Telsey maintained Macy’s with a Market Perform and lowered the price target from $25 to $20.
  • TD Cowen analyst Oliver Chen maintained the stock with a Hold and lowered the price target from $21 to $20.
  • Citigroup analyst Paul Lejuez maintained Macy’s with a Neutral and cut the price target from $24 to $18.

Considering buying M stock? Here’s what analysts think:

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