Exhibit 99.1
Macy’s, Inc. Updates Disclosure Metrics
NEW YORK – February 18, 2026 - In anticipation of the two-year anniversary of its Bold New Chapter strategy, Macy’s, Inc. (NYSE: M) today announced updates to certain financial disclosure metrics. There is no impact on the company’s consolidated financial reporting and disclosures under U.S. Generally Accepted Accounting Principles (GAAP). The updated disclosure information does not represent a restatement or reissuance of previously issued financial statements.
These changes are intended to simplify Macy’s, Inc.’s disclosures for its go-forward business comparable sales and provide increased clarity on key metrics that support Macy’s, Inc. growth profile and operating performance. This includes the addition of go-forward Macy’s, Inc. and nameplate sales on an OLM basis (owned + licensed + marketplace), as well as go-forward Macy’s, Inc. total revenue. The company believes the updated disclosures provide additional transparency on the growth of its go-forward business.
For fiscal fourth quarter 2025, the company will continue to report non-GAAP earnings consistent with previous disclosures. The company will also share updated metrics in the fourth quarter, which will be used for all disclosures beginning in the first quarter of fiscal 2026.
A summary of the financial disclosure updates follows.
Disclosure AreaMetrics
Comparable Sales
(Chg vs. PY)
•Streamlining nameplate comparable sales to four go-forward1 OLM metrics: Macy’s nameplate; Macy’s Reimagine locations; Bloomingdale’s; and Bluemercury
•No change to go-forward1 total Macy’s, Inc. and Macy’s, Inc. comparable OLM sales
OLM Dollar Sales2
•Adding go-forward1 OLM dollar sales for: Macy’s, Inc.; Macy’s nameplate; Bloomingdale’s; and Bluemercury
•Adding Macy’s, Inc. OLM dollar sales
Total Revenue
•Adding go-forward1 Macy’s, Inc. total revenue
•No change to Macy’s, Inc. total revenue
Non-GAAP Earnings
•Updating Macy’s, Inc. Adjusted net income3, Adjusted EBIT3, Adjusted EBITDA3 and Adjusted EPS3 definitions to now exclude ASG4 and BPI4, in addition to the previous exclusions of Impairment, Restructuring and Other Costs and Settlement Charges
•No change to Macy’s, Inc. net income, EBIT, EBITDA and EPS





1 Metrics provided on a go-forward basis reflect locations closed and to be closed as part of the Bold New Chapter strategy.

2 OLM dollar sales include all owned sales plus sales of departments licensed to third parties and sales on our marketplace platform. The company believes OLM dollar sales represent the company's overall consumer sales demand and performance, regardless of channel or manner of selling. This compares to GAAP net sales which includes owned sales plus commissions from licensed and marketplace sales, as well as breakage income from gift cards and loyalty programs.

3 The company believes the updated non-GAAP metrics most closely align with the operating performance of its go-forward business.

4 The company remains committed to the closure of its underperforming non-go-forward locations and subsequent monetization. Gains on sale of real estate (ASG) and benefit plan income (BPI) are not viewed by the company as long-term components of go-forward operating performance and results.

The supplemental information in this Form 8-K provides a recast of previously reported annual financial information for fiscal years 2023 and 2024 and a recast of previously reported quarterly information for fiscal years 2023, 2024 and 2025 incorporating these disclosure updates.

About Macy’s, Inc.
Macy’s, Inc. (NYSE: M) is a trusted source for quality brands through our iconic nameplates – Macy’s, Bloomingdale’s and Bluemercury. Headquartered in New York City, our comprehensive digital and nationwide footprint empowers us to deliver a seamless shopping experience for our customers. For more information, visit macysinc.com.


Media – Chris Grams
communications@macys.com

Investors – Pamela Quintiliano
investors@macys.com



Exhibit 1: Updated Financial Reporting Metrics
Changes in Comparable Owned + Licensed + Marketplace Sales1
Q1 2025Q2 2025Q3 2025Q3 2025 YTD
Macy’s, Inc.(1.2)%1.9 %3.2 %1.3 %
Macy’s, Inc. Go-Forward Business(0.9)%2.2 %3.4 %1.6 %
Macy’s Go-Forward Business(1.9)%1.5 %2.3 %0.6 %
Bloomingdale’s Go-Forward Business3.8 %5.7 %9.0 %6.2 %
Bluemercury1.5 %1.2 %1.1 %1.7 %
Q1 2024Q2 2024Q3 2024Q4 2024Q3 2024 YTDFiscal 2024
Macy’s, Inc.(0.3)%(3.3)%(1.3)%0.2 %(1.6)%(0.9)%
Macy’s, Inc. Go-Forward Business0.1 %(3.0)%(0.9)%0.6 %(1.3)%(0.6)%
Macy’s Go-Forward Business0.0 %(3.3)%(1.8)%(0.5)%(1.7)%(1.3)%
Bloomingdale’s Go-Forward Business0.3 %(1.4)%3.2 %6.5 %0.7 %2.5 %
Bluemercury4.3 %2.0 %3.3 %6.2 %3.1 %4.0 %
Q1 2023Q2 2023Q3 2023Q4 2023Q3 2023 YTDFiscal 2023
Macy’s, Inc.(7.2)%(7.3)%(6.3)%(4.2)%(6.9)%(6.0)%
Macy’s, Inc. Go-Forward Business(7.0)%(6.8)%(5.9)%(3.9)%(6.6)%(5.7)%
Macy’s Go-Forward Business(7.7)%(7.8)%(6.3)%(4.4)%(7.3)%(6.3)%
Bloomingdale’s Go-Forward Business(4.1)%(2.3)%(4.2)%(1.3)%(3.5)%(2.9)%
Bluemercury4.3 %5.8 %2.5 %2.3 %4.2 %3.6 %
1 Represents the change in all owned sales plus sales of departments licensed to third parties and sales on our marketplace platform. Includes all stores in operation throughout the period presented and the respective period from the prior year. Stores impacted by a natural disaster of undergoing significant development remain in the comparable sales calculation unless closed or impacted for a significant period of time.




Owned + Licensed + Marketplace Sales
$ millionsQ1 2025Q2 2025Q3 2025Q3 2025 YTD
Macy’s, Inc.$5,047 $5,182 $5,160 $15,389 
Macy’s, Inc. Go-Forward Business$4,886 $5,016 $5,000 $14,902 
Macy’s Go-Forward Business$3,980 $4,118 $4,037 $12,135 
Bloomingdale’s Go-Forward Business$840 $826 $894 $2,560 
Bluemercury$66 $73 $69 $207 
Q1 2024Q2 2024Q3 2024Q4 2024Q3 2024 YTDFiscal 2024
Macy’s, Inc.$5,260 $5,251 $5,162 $8,274 $15,674 $23,947 
Macy’s, Inc. Go-Forward Business$4,927 $4,903 $4,828 $7,812 $14,659 $22,471 
Macy’s Go-Forward Business$4,059 $4,058 $3,947 $6,583 $12,064 $18,647 
Bloomingdale’s Go-Forward Business$804 $775 $815 $1,141 $2,394 $3,534 
Bluemercury$65 $70 $66 $88 $201 $290 
Q1 2023Q2 2023Q3 2023
Q4 20231
Q3 2023 YTD
Fiscal 20231
Macy’s, Inc.$5,282 $5,427 $5,228 $8,572 $15,937 $24,509 
Macy’s, Inc. Go-Forward Business$4,922 $5,051 $4,872 $8,027 $14,844 $22,872 
Macy’s Go-Forward Business$4,060 $4,198 $4,021 $6,829 $12,280 $19,109 
Bloomingdale’s Go-Forward Business$799 $784 $786 $1,112 $2,369 $3,481 
Bluemercury$62 $69 $64 $86 $196 $282 
1 2023 represents a 53 week year and Q4 2023 represents a 14 week quarter




Total Revenue
$ millionsQ1 2025Q2 2025Q3 2025Q3 2025 YTD
Macy’s, Inc. Go-Forward Business$4,640 $4,843 $4,762 $14,244 
Q1 2024Q2 2024Q3 2024Q4 2024Q3 2024 YTDFiscal 2024
Macy’s, Inc. Go-Forward Business$4,683 $4,765 $4,584 $7,563 $14,032 $21,595 
Q1 2023Q2 2023Q3 2023
Q4 20231
Q3 2023 YTD
Fiscal 20231
Macy’s, Inc. Go-Forward Business$4,830 $4,923 $4,698 $7,850 $14,452 $22,302 
1 2023 includes 53 weeks of Total Revenue

Total Revenue Change versus Prior Year
Q1 2025Q2 2025Q3 2025Q3 2025 YTD
Macy’s, Inc. Go-Forward Business(0.9)%1.6 %3.9 %1.5 %
Q1 2024Q2 2024Q3 2024Q4 2024Q3 2024 YTDFiscal 2024
Macy’s, Inc. Go-Forward Business(3.1)%(3.2)%(2.4)%(3.6)%(2.9)%(3.2)%
Q1 2023Q2 2023Q3 2023
Q4 20231
Q3 2023 YTD
Fiscal 20231
Macy’s, Inc. Go-Forward Business(6.5)%(8.9)%(7.3)%(2.0)%(7.6)%(5.7)%
1 2023 represents a 53 week year and Q4 2023 represents a 14 week quarter




Updated Non-GAAP Earnings Metrics
$ millions except per share figuresQ1 2025Q2 2025Q3 2025
Adjusted EBIT$85 $155 $34 
Adjusted EBITDA$304 $373 $269 
Adjusted Net Income$31 $98 $14 
Adjusted EPS$0.11 $0.35 $0.05 
Q1 2024Q2 2024Q3 2024Q4 2024Fiscal 2024
Adjusted EBIT$143 $185 $(25)$634 $936 
Adjusted EBITDA$359 $398 $203 $858 $1,817 
Adjusted Net Income (Loss)$74 $119 $(41)$474 $625 
Adjusted EPS$0.26 $0.42 $(0.15)$1.69 $2.23 
Q1 2023Q2 2023Q3 2023
Q4 20231
Fiscal 20231
Adjusted EBIT$231 $128 $93 $817 $1,267 
Adjusted EBITDA$449 $343 $324 $1,049 $2,164 
Adjusted Net Income$142 $68 $51 $596 $859 
Adjusted EPS$0.51 $0.24 $0.18 $2.13 $3.07 
1 2023 represents a 53 week year and Q4 2023 represents a 14 week quarter






Exhibit 2: Overview of Financial Reporting Metric Updates
COMPARABLE SALESAdditionsNo ChangesNo Longer Provide
Macy’s, Inc.Macy’s, Inc. comparable OLM salesMacy’s, Inc. comparable owned sales
Macy’s, Inc. GF1 comparable OLM sales
Nameplates
Macy’s
Macy’s GF1 comparable OLM sales
Macy’s comparable OLM sales
Macy’s reimagine locations comparable OLM salesMacy’s comparable owned sales
Macy’s NGF2 locations comparable owned sales
Macy’s NGF2 locations comparable OLM sales
Macy’s GF1 locations comparable owned sales
Macy’s reimagine locations comparable owned sales
Bloomingdale’s
Bloomingdale’s GF1 comparable OLM sales
Bloomingdale’s comparable owned sales
Bluemercury
Bluemercury GF1 comparable OLM sales3
Bluemercury comparable owned sales3
OLM Dollar SalesAdditionsNo ChangesNo Longer Provide
Macy’s, Inc.Macy’s, Inc. OLM dollar sales
Macy’s, Inc. GF1 OLM dollar sales
Nameplates
Macy’s
Macy’s GF1 OLM dollar sales
Bloomingdale’s
Bloomingdale’s GF1 OLM dollar sales
Bluemercury
Bluemercury GF1 OLM dollar sales
NET SALESAdditionsNo ChangesNo Longer Provide
Macy’s, Inc.Macy’s, Inc. net sales
Nameplates
Macy’sMacy’s percent of net sales
Bloomingdale’sBloomingdale’s net sales change
BluemercuryBluemercury net sales change
TOTAL REVENUEAdditionsNo ChangesNo Longer Provide
Macy’s, Inc.
Macy’s, Inc. GF1 total revenue
Macy’s, Inc. total revenue
Nameplates
Macy’s
Bloomingdale’s
Bluemercury
EBIT/EBITDAAdditionsNo ChangesNo Longer Provide
Macy’s, Inc.Macy’s, Inc. EBIT/EBITDAMacy’s, Inc. adj. EBIT/EBITDA ex. impairment, restructuring and other costs and settlement charges
Macy’s, Inc. adj. EBIT/EBITDA ex. impairment, restructuring and other costs, ASG4, BPI5 and settlement charges
Macy’s, Inc. core adj. EBITDA
Net IncomeAdditionsNo ChangesNo Longer Provide
Macy’s, Inc.Macy’s, Inc. net incomeMacy’s, Inc. adj. net income ex. impairment, restructuring and other costs and settlement charges
Macy’s, Inc. adj. net income ex. impairment, restructuring and other costs, ASG4, BPI5 and settlement charges
EPSAdditionsNo ChangesNo Longer Provide
Macy’s, Inc.Macy’s, Inc. EPSMacy’s, Inc. adj. EPS ex. impairment, restructuring and other costs and settlement charges
Macy’s, Inc. adj. EPS ex. impairment, restructuring and other costs, ASG4, BPI5 and settlement charges
1 Go-Forward
2 Non-Go-Forward
3 There is no difference between Bluemercury owned sales and OLM sales and no change to historical results
4 Gains on Sale of Real Estate
5 Benefit Plan Income



Exhibit 3: Reconciliation of Non-GAAP Earnings Metrics
Macy’s Inc., Adjusted EBIT and Adjusted EBITDA
$ millionsQ1 2025Q2 2025Q3 2025
Net income$38 $87 $11 
Federal, state and local income tax (benefit) expense30 28 (6)
Interest expense, net27 25 25 
Loss on extinguishment of debt3 13 16 
Benefit plan income, net(4)(4)(4)
Settlement charges— — — 
Impairment, restructuring and other costs7 22 4 
Gains on sale of real estate(16)(16)(12)
Adjusted EBIT$85 $155 $34 
Depreciation and amortization219 218 235 
Adjusted EBITDA$304 $373 $269 
Q1 2024Q2 2024Q3 2024Q4 2024Fiscal 2024
Net income$62 $150 $28 $342 $582 
Federal, state and local income tax expense36 45 7 94 181 
Interest expense, net31 31 32 22 115 
Loss on extinguishment of debt— — 1 — 1 
Benefit plan income, net(4)(4)(4)(4)(16)
Settlement charges— — — 46 46 
Impairment, restructuring and other costs (benefits)19 (1)(23)175 171 
Gains on sale of real estate(1)(36)(66)(41)(144)
Adjusted EBIT$143 $185 $(25)$634 $936 
Depreciation and amortization216 213 228 224 881 
Adjusted EBITDA$359 $398 $203 $858 $1,817 
Q1 2023Q2 2023Q3 2023
Q4 20231
Fiscal 20231
Net income (loss)$151 $(19)$41 $(128)$45 
Federal, state and local income tax (benefit) expense56 (7)2 (52)(2)
Interest expense, net37 36 35 27 135 
Benefit plan income, net(4)(4)(2)(1)(11)
Settlement charges— 122 7 5 134 
Impairment, restructuring and other costs2 4 15 1,007 1,027 
Gains on sale of real estate(11)(4)(5)(41)(61)
Adjusted EBIT$231 $128 $93 $817 $1,267 
Depreciation and amortization218 215 231 232 897 
Adjusted EBITDA$449 $343 $324 $1,049 $2,164 
1 2023 represents a 53 week year and Q4 2023 represents a 14 week quarter




Macy’s Inc., Adjusted Net Income and Adjusted Diluted EPS
$ millions except per share dataQ1 2025Q2 2025Q3 2025
Net IncomeDiluted EPSNet IncomeDiluted EPSNet IncomeDiluted EPS
As Reported$38 $0.13 $87 $0.31 $11 $0.04 
Loss on extinguishment of debt3 0.01 13 0.05 16 0.06 
Benefit plan income, net(4)(0.01)(4)(0.01)(4)(0.02)
Impairment, restructuring and other costs7 0.03 22 0.08 4 0.01 
Gains on sale of real estate(16)(0.06)(16)(0.06)(12)(0.04)
Income tax impact of certain items identified above3 0.01 (4)(0.02)(1)— 
As adjusted to exclude certain items above$31 $0.11 $98 $0.35 $14 $0.05 
Q1 2024Q2 2024Q3 2024Q4 2024Fiscal 2024
Net IncomeDiluted EPSNet IncomeDiluted EPSNet Income (Loss)Diluted EPSNet IncomeDiluted EPSNet IncomeDiluted EPS
As Reported$62 $0.22 $150 $0.53 $28 $0.10 $342 $1.21 $582 $2.07 
Loss on extinguishment of debt— — — — 1 — — — 1 — 
Benefit plan income, net(4)(0.02)(4)(0.02)(4)(0.01)(4)(0.01)(16)(0.05)
Settlement charges— — — — — — 46 0.16 46 0.16 
Impairment, restructuring and other costs (benefits)19 0.07 (1)— (23)(0.08)175 0.62 171 0.61 
Gains on sale of real estate(1)— (36)(0.13)(66)(0.24)(41)(0.14)(144)(0.51)
Income tax impact of certain items identified above(2)(0.01)10 0.04 23 0.08 (44)(0.15)(15)(0.05)
As adjusted to exclude certain items above$74 $0.26 $119 $0.42 $(41)$(0.15)$474 $1.69 $625 $2.23 
Q1 2023Q2 2023Q3 2023
Q4 20231
Fiscal 20231
Net IncomeDiluted EPSNet Income (Loss)Diluted EPSNet IncomeDiluted EPSNet Income (Loss)Diluted EPSNet IncomeDiluted EPS
As Reported$151 $0.55 $(19)$(0.07)$41 $0.15 $(128)$(0.47)$45 $0.16 
Benefit plan income, net(4)(0.01)(4)(0.01)(2)(0.01)(1)— (11)(0.04)
Settlement charges— — 122 0.44 7 0.03 5 0.02 134 0.48 
Impairment, restructuring and other costs2 — 4 0.01 15 0.05 1,007 3.60 1,027 3.69 
Gains on sale of real estate(11)(0.04)(4)(0.01)(5)(0.02)(41)(0.15)(61)(0.23)
Income tax impact of certain items identified above4 0.01 (31)(0.12)(5)(0.02)(246)(0.87)(275)(0.99)
As adjusted to exclude certain items above$142 $0.51 $68 $0.24 $51 $0.18 $596 $2.13 $859 $3.07 
1 2023 represents a 53 week year and Q4 2023 represents a 14 week quarter