Macy’s saw a 0.8% increase in comparable sales in Q2 FY25, but net sales dropped 2.5% to $4.81bn due to store closures. The namesake brand experienced a 3.8% decrease, while Bloomingdale’s and Bluemercury saw increases of 4.6% and 3.3%, respectively.

Despite challenges, Macy’s achieved better than expected results in Q2, driven by strong sales growth in key locations. The company’s focus on customer experience and multi-brand approach contributed to a successful quarter.

Macy’s gross margin decreased to 39.7% due to strategic price reductions, while operating income dropped to $149m. The company posted a GAAP net income of $87m and an adjusted net income of $113m.

Macy’s raised its net sales forecast for FY25 to $21.15bn-$21.45bn, with adjusted diluted earnings per share projected at $1.70-$2.05. Third-quarter net sales are expected to range from $4.5bn to $4.6bn, with a slight decline in comparable sales anticipated.

Read more at Yahoo Finance: Macy’s raises FY25 outlook as Q2 earnings surpass forecast