Macy's (M) Gross Margin (2009 - 2026)

Macy's (M) posted Gross Margin of 29.92% for Q1 2026, down 28.57% sequentially from 41.89% in Q4 2025, and down 775.0% YoY from 4.43% in Q1 2025.

Macy's (M) Gross Margin (2009 - 2026) Analysis & Trends

Macy's has reported Gross Margin for 18 years, with the latest figure at 29.92% in Q1 2026.

Quarterly Gross Margin fell 775.0% year-over-year to 29.92% in Q1 2026, while the trailing twelve-month figure through Jan 2026 was 36.88% (down 257.0% YoY) and the FY2026 annual result came in at 37.98%, down 229.0% from the prior year.
Gross Margin eased to 29.92% in Q1 2026 per M's latest filing, from 41.89% in the prior quarter.
Over five years, Gross Margin peaked at 42.35% in Q3 2024 and troughed at 29.92% in Q1 2026.
A 5-year average of 38.36% and a median of 39.23% in 2025 frame the typical range for Gross Margin.
The sharpest annual moves came in 2025 and 2026: Gross Margin jumped 546 bps in 2025, then slumped 775 bps in 2026.
Over 5 years, Gross Margin stood at 38.74% in 2022, then advanced by 4 bps to 40.23% in 2023, then dropped by 2 bps to 39.6% in 2024, then climbed by 6 bps to 41.89% in 2025, then decreased by 29 bps to 29.92% in 2026.
According to Business Quant data, Gross Margin over the past three periods registered 29.92%, 41.89%, and 39.73% for Q1 2026, Q4 2025, and Q3 2025 respectively.

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