Macy's, Inc. income statement
In fiscal 2026, Macy's, Inc. reported revenue of $22.62bn, down 1.7% on the year before, operating income of $1.03bn (a 4.6% margin) and net income of $642m, or $2.32 per diluted share. Every line below comes from the company's 10-K and 10-Q filings; column headings link to the filing.
Income statement
| Fiscal year | 2010Jan 2010 | 2011Jan 2011 | 2012Jan 2012 | 2013Feb 2013 | 2014Feb 2014 | 2015Jan 2015 | 2016Jan 2016 | 2017Jan 2017 | 2018Feb 2018 | 2019Feb 2019 | 2020Feb 2020 | 2021Jan 2021 | 2022Jan 2022 | 2023Jan 2023 | 2024Feb 2024 | 2025Feb 2025 | 2026Jan 2026 | LTMAug 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | 23.5 | 25.0 | 26.4 | 27.7 | 27.9 | 28.1 | 27.1 | 25.9 | 24.9 | 25.0 | 24.6 | 17.3 | 25.4 | 25.4 | 23.9 | 23.0 | 22.6 | 22.8 |
| Cost of revenue | 14.0 | 14.8 | 15.7 | 16.5 | 16.7 | 16.9 | 16.5 | 15.7 | 15.2 | 15.2 | 15.2 | 12.3 | 15.0 | 15.3 | 14.2 | 13.7 | 13.5 | 13.5 |
| Gross profit | 9.5 | 10.2 | 10.7 | 11.1 | 11.2 | 11.2 | 10.6 | 10.2 | 9.7 | 9.8 | 9.4 | 5.1 | 10.4 | 10.1 | 9.6 | 9.3 | 9.1 | 9.3 |
| Selling, general and administrative | 8.1 | 8.3 | 8.3 | 8.5 | 8.4 | 8.4 | 8.5 | 9.3 | 9.0 | 9.0 | 9.0 | 6.8 | 8.2 | 8.5 | 8.4 | 8.3 | 8.2 | 8.3 |
| Operating income | 1.1 | 1.9 | 2.4 | 2.7 | 2.7 | 2.8 | 2.0 | 1.4 | 1.9 | 1.7 | 1.0 | −4.5 | 2.3 | 1.7 | 0.3 | 0.9 | 1.0 | 1.1 |
| Interest expense | 0.6 | 0.5 | 0.4 | 0.4 | 0.4 | 0.4 | 0.4 | 0.4 | 0.3 | 0.3 | 0.2 | 0.3 | 0.3 | 0.2 | 0.2 | 0.2 | 0.1 | — |
| Net interest income | — | — | −0.4 | −0.4 | −0.4 | −0.4 | −0.4 | −0.4 | −0.3 | −0.2 | −0.2 | — | — | — | — | — | — | — |
| Income before tax | 0.5 | 1.3 | 2.0 | 2.1 | 2.3 | 2.4 | 1.7 | 1.0 | 1.5 | 1.4 | 0.7 | −4.8 | 1.9 | 1.5 | 0.0 | 0.8 | 0.8 | 1.0 |
| Income tax | 0.2 | 0.5 | 0.7 | 0.8 | 0.8 | 0.9 | 0.6 | 0.3 | −0.0 | 0.3 | 0.2 | −0.8 | 0.4 | 0.3 | −0.0 | 0.2 | 0.2 | 0.2 |
| Net income | 0.3 | 0.8 | 1.3 | 1.3 | 1.5 | 1.5 | 1.1 | 0.6 | 1.6 | 1.1 | 0.6 | −3.9 | 1.4 | 1.1 | 0.0 | 0.6 | 0.6 | 0.8 |
| Diluted EPS | $0.78 | $1.98 | $2.92 | $3.24 | $3.86 | $4.22 | $3.22 | $2.02 | $5.10 | $3.56 | $1.81 | −$12.68 | $4.52 | $4.08 | $0.16 | $2.07 | $2.32 | $2.74 |
| Diluted shares (average) | 423m | 427m | 430m | 412m | 385m | 362m | 333m | 311m | 307m | 311m | 311m | 311m | 314m | 281m | 278m | 282m | 277m | 274m |
| EBITDA | 2.3 | 3.0 | 3.5 | 3.7 | 3.7 | 3.8 | 3.1 | 2.4 | 2.9 | 2.7 | 2.0 | −3.5 | 3.2 | 2.5 | 1.2 | 1.8 | 1.9 | 2.0 |
| Quarter | 2025 Q3Nov 2024 | 2025 Q4Feb 2025 | 2026 Q1May 2025 | 2026 Q2Aug 2025 | 2026 Q3Nov 2025 | 2026 Q4Jan 2026 | 2027 Q1May 2026 | 2027 Q2Aug 2026 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 4,903 | 8,007 | 4,793 | 4,999 | 4,913 | 7,916 | 4,892 | 5,059 |
| Cost of revenue | 2,864 | 4,991 | 2,795 | 2,900 | 2,855 | 4,947 | 2,860 | 2,848 |
| Gross profit | 2,039 | 3,016 | 1,998 | 2,099 | 2,058 | 2,969 | 2,032 | 2,211 |
| Selling, general and administrative | 2,064 | 2,382 | 1,913 | 1,944 | 2,024 | 2,359 | 1,952 | 1,960 |
| Operating income | 64 | 499 | 94 | 149 | 42 | 745 | 112 | 244 |
| Income before tax | 35 | 436 | 68 | 115 | 5 | 662 | 93 | 227 |
| Income tax | 7 | 94 | 30 | 28 | −6 | 155 | 30 | 58 |
| Net income | 28 | 342 | 38 | 87 | 11 | 507 | 63 | 169 |
| Diluted EPS | $0.10 | $1.22 | $0.13 | $0.31 | $0.04 | $1.84 | $0.23 | $0.62 |
| EBITDA | 292 | 723 | 313 | 367 | 277 | 967 | 322 | 450 |
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