Macy’s (NYSE: M) releases Q3 and 39-week 2025 results and non-GAAP metrics

Rhea-AI Filing Summary

Macy’s, Inc. filed a current report announcing it has released a press release with its financial condition, results of operations and cash flows for the 13- and 39-week periods ended November 1, 2025. The release presents results under GAAP and also provides several non-GAAP metrics, including changes in comparable sales on an owned-plus-licensed and owned-plus-licensed-plus-marketplace basis, EBITDA, adjusted EBITDA, core adjusted EBITDA, adjusted net income and adjusted diluted earnings per share.

These adjusted measures exclude items such as impairment, restructuring and other costs, loss on extinguishment of debt and, for core adjusted EBITDA, gains on sale of real estate. Macy’s includes a reconciliation from each non-GAAP figure to the most directly comparable GAAP measure within the press release.

Insights

Retail equity analyst

Macy’s announces new quarterly and year-to-date results with detailed non-GAAP metrics and reconciliations.

Macy’s, Inc. is reporting its financial condition and performance for the 13 and 39 weeks ended November 1, 2025 through an accompanying press release. The disclosure covers results of operations and cash flows, which are central to understanding how the core retail business and working capital are evolving over the fiscal year.

The company highlights a suite of non-GAAP measures, including changes in comparable sales on owned-plus-licensed and owned-plus-licensed-plus-marketplace bases, as well as EBITDA, adjusted EBITDA, core adjusted EBITDA, adjusted net income and adjusted diluted EPS. These adjusted metrics remove impairment, restructuring and other costs, loss on extinguishment of debt, and for core adjusted EBITDA, gains on sale of real estate, which can help isolate underlying operations.

A reconciliation section in the press release links each non-GAAP figure back to its nearest GAAP measure, giving investors a way to evaluate the impact of the excluded items. The actual revenue, earnings and cash flow levels, along with any trend versus prior periods, would be seen in the attached press release rather than this brief summary description.

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UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the

Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): December 3, 2025

Macy's, Inc.

(Exact name of Registrant as Specified in its Charter)

Delaware			1-13536			13-3324058
(State or Other Jurisdiction of Incorporation)			(Commission File Number)			(IRS Employer Identification No.)

151 West 34th Street, New York, New York 10001

(Address of Principal Executive Offices)

(212) 494-1621

(Registrant's telephone number, including area code)

Check the appropriate box below if the Form 8-K is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

o			Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
o			Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
o			Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
o			Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of each class			Trading Symbol(s)			Name of each exchange on which registered
Common Stock, $.01 par value per share			M			New York Stock Exchange

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company			o
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.			o

Item 2.02.    Results of Operations and Financial Condition.

On December 3, 2025, Macy’s, Inc. (“Macy’s” or the “Company”) issued a press release announcing Macy’s financial condition, results of operations and cash flows as of and for the 13 and 39 weeks ended November 1, 2025. The full text of the press release is attached hereto as Exhibit 99.1 and is incorporated herein by reference.

Macy’s reports its financial results in accordance with U.S. generally accepted accounting principles (“GAAP”). The press release referred to above contains non-GAAP financial measures of changes in comparable sales on an owned-plus-licensed and owned-plus-licensed-plus-marketplace basis, earnings before interest, taxes, depreciation and amortization (“EBITDA”), adjusted EBITDA, core adjusted EBITDA, adjusted net income, and adjusted diluted earnings per share. Adjusted EBITDA, adjusted net income and adjusted diluted earnings per share exclude certain items that consist of impairment, restructuring and other costs and loss on extinguishment of debt. Core adjusted EBITDA excludes certain items that consist of impairment, restructuring and other costs, loss on extinguishment of debt and gains on sale of real estate. A section has been included at the end of the press release that contains important additional information regarding these non-GAAP financial measures including reconciliation to the most directly comparable GAAP financial measure.

Item 9.01.    Financial Statements and Exhibits.

(d)Exhibits

99.1			Press Release of Macy's dated December 3, 2025
104			Cover Page Interactive Data File (embedded within the Inline XBRL Document)

MACY'S, INC.

SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

			MACY'S, INC.
Dated:  December 3, 2025			By:			/s/ Paul Griscom
			Name:			Paul Griscom
			Title:			Senior Vice President and Controller

FAQ

What did Macy's (M) announce in this 8-K filing?

Macy’s, Inc. announced that it issued a press release reporting its financial condition, results of operations and cash flows for the 13 and 39 weeks ended November 1, 2025.

Which periods do Macy's (M) latest reported results cover?

The results cover the 13-week and 39-week periods ended November 1, 2025.

What non-GAAP financial measures does Macy's (M) highlight?

Macy’s highlights non-GAAP measures including comparable sales on owned-plus-licensed and owned-plus-licensed-plus-marketplace bases, EBITDA, adjusted EBITDA, core adjusted EBITDA, adjusted net income and adjusted diluted earnings per share.

Which items are excluded from Macy's (M) adjusted results?

Adjusted EBITDA, adjusted net income and adjusted diluted EPS exclude impairment, restructuring and other costs and loss on extinguishment of debt. Core adjusted EBITDA also excludes gains on sale of real estate.

Where can investors find Macy's (M) reconciliations from non-GAAP to GAAP figures?

A section at the end of the Macy’s press release, filed as Exhibit 99.1, provides reconciliations from each non-GAAP measure to the most directly comparable GAAP measure.

Does this Macy's (M) 8-K include the full financial statements?

The 8-K itself summarizes the announcement and attaches the full press release as Exhibit 99.1, which contains detailed financial information and non-GAAP reconciliations.