CluenexMacy's, Inc. M
Macy's, Inc. scores weak on business quality (3.4 of 10). Here is why, in plain words, and what our sealed record shows.
Why it matters
- What Macy's, Inc. does
Macy's operates department stores across the US, selling apparel, cosmetics, and home goods to retail shoppers to generate revenue from physical and digital storefronts. The company is leaning into partnerships like DoorDash to expand clothing delivery capabilities and capture new digital demand.
- What it does best
Macy's excels at physical retail footprint scale, operating hundreds of department stores with a gross margin of 40.7% that outpaces competitor Coupang's 28.4%, though real estate flexibility remains harder to replicate quickly.
- The main risk
Ongoing revenue contraction threatens store productivity, with annual sales sliding from $25.4B in 2023 to $22.6B in 2026, risking further contraction if traffic shifts permanently online.
Quality, check by check
Scored against its own industry, from company filings.
Operating margin of 4.3% and FCF margin of 4.6% reflect thin profitability, though cost controls keep free cash flow positive at $1.0B despite shrinking sales.
The brand relies on consumer familiarity and prime mall real estate locking in traditional shoppers, ranking in the bottom quartile for revenue growth at 12th percentile.
Revenue is shrinking at a 1.7% clip, continuing a multi-year downward trend from $25.4B in 2023 down to $22.6B in 2026 as top-line momentum fades.
Debt-to-equity sits at 0.5 with $1.2B in cash against $2.4B in total debt, while generating $1.0B in free cash flow, pointing to a stabilizing balance sheet.
Insiders
Executives and directors, from SEC Form 4 filings we read ourselves. Open market trades only; grants, option exercises and pre-planned sales left out.
No open market buys or unplanned sales by executives or directors.
Our sealed record on M
Verdicts appear here 30 days after we publish them; members see today's. Each one is in the nightly ledger, fingerprinted the night it was made.
The first sealed verdicts appear here on Oct 11, 2026.
Questions
Macy's, Inc. scores weak on the Cluenex quality check (3.4 of 10), measured against its own industry. Profitability is weak, moat weak, growth slow and financial health fair.
In the last 90 days of SEC Form 4 filings: No open market buys or unplanned sales by executives or directors.
Dec 3, 2026.
See M today
- Today's verdict on M, and why
- Fair value with cautious, base and optimistic cases
- The exact price that would change the verdict
- Which stocks each signal names, the night it fires
Cite this page: Cluenex, “Macy's, Inc. (M)”, https://cluenex.com/stocks/m/, data as of Oct 10, 2026.