Macy's Q1 earnings beat estimates; raises full-year sales forecast on strong brand growth

Macy's reported Q1 earnings per share of $0.40, exceeding the $0.37 estimate, with revenue of $4.87 billion beating expectations. Growth was driven by strong sales in Bloomingdale's, Bluemercury, and Macy's stores. The company raised its full-year net sales forecast to $21.68-$21.83 billion, supported by its strategy targeting higher-income shoppers. Macy's financial health remains solid with a low debt-to-equity ratio and a P/E ratio of 8.43.