Macy's (M) Soars 21% on Sales Beat, Raised Growth Outlook

We recently published 10 Power Stocks Crushing Wall Street — 7 at All-Time Highs. Macy’s, Inc. (NYSE:M) is one of the best performers on Wednesday.

Macy’s soared by 20.68 percent on Wednesday to close at $16.28 apiece after beating its own net sales expectations and raising its growth outlook for the full year 2025.

In an updated report, Macy’s, Inc. (NYSE:M) said it achieved net sales of $4.8 billion in the second quarter of the year, exceeding its own guidance. However, the actual figures were lower by 2 percent than the $4.9 billion in the same period last year.

Additionally, Macy’s, Inc. (NYSE:M) said it saw a 1.1 percent uptick in comparable sales growth for 125 revamped locations.

Net income, on the other hand, fell by 42 percent to $87 million from $150 million in the same period last year, as a result of the store closures earlier this year. Revenues dipped by 1.9 percent to $4.999 billion from $5.096 billion in the same period last year.

“Our teams achieved better than expected top and bottom-line results during the second quarter, driven by our strongest comparable sales growth in 12 quarters, reflecting the strong performance in Macy’s Reimagine 125 locations, Bloomingdale’s, and Bluemercury,” said Macy’s, Inc. (NYSE:M) Chairman and CEO Tony Spring.

Encouraged by the results, the company raised its net sales growth forecast for full-year 2025 to a range of $21.15 billion to $21.45 billion, from a $21 billion to $21.4 billion as previously expected.

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Disclosure: None. This article is originally published at Insider Monkey.