Macy's posts strongest Q1 growth in four years, raises guidance despite consumer worries

Key points

• People walk around the Macys Flagship store in New York City on January 14, 2025. Macy's posted its strongest fiscal first-quarter comparable sales performance in four years on Wednesday, as the legacy department store's turnaround continues to show progress.
• Led by the 200 so-called reimagined stores Macy's has upgraded, comparable sales grew 3% overall during the quarter and 1.6% at its namesake banner.
• At Bloomingdale's, comparable sales grew 10.2%, helped by an array of buzzy brands, a "fun factor" unique in the luxury landscape and the recent bankruptcy of rival Saks Fifth Avenue, CEO Tony Spring told CNBC in an interview.
• "Is the disruption in the marketplace helpful to us?
• "Is it the primary reason we're growing?