Macy's vs Vipshop Holdings
Macy's is the larger business, with $22.62bn of revenue in fiscal 2026 against $14.74bn for Vipshop Holdings (1.5 times as much). Macy's grew faster (-1.7% against -2.2%). Vipshop Holdings kept more of each dollar of sales as profit: a net margin of 6.8% against 2.8%.
| Latest fiscal year | Macy'sM, 2026 | Vipshop HoldingsVIPS, 2025 |
|---|---|---|
| Revenue | $22.62bn | $14.74bn |
| Revenue growth | -1.7% | -2.2% |
| Net income | $642m | $1.01bn |
| Operating margin | — | 7.7% |
| Net margin | 2.8% | 6.8% |
| Return on equity | 13.6% | 17.8% |
| Free cash flow | $1.06bn | $761m |
| Cash | $1.25bn | $3.29bn |
| Total debt | $2.43bn | $914m |
| Debt to equity | — | 15.6% |
| Dividend per share | $0.73 | — |
| Dividend yield | 3.1% | 3.7% |
| Share buybacks | $250m | $687m |
| Employees | 94,570 | — |
| Market value | $6.40bn | $6.82bn |
| Price vs our value range | Below our value range | Below our value range |
| Moat score | 45 (Moderate) | — |
| Insider trades, 12 months | 0 buys, 24 sales | 0 buys, 10 sales |