Macy’s Second-Quarter Sales Rise 1.1% as Net Income More Than Doubles
Macy’s growth slowed in the second quarter, but profitability strengthened. Net income rose to $169 million from $89 million a year earlier, while EBITDA increased 22.5% to $457 million. Comparable sales grew 1.1% at Macy’s and 11.3% at Bloomingdale’s. The company also reported $98 million in tariff-related revenue and expects $116 million in refunds, helping gross margin rise to 41.5% of sales.