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Macy's said second-quarter net sales, comparable sales, adjusted EBITDA and adjusted diluted EPS all exceeded guidance. The company reported 2.7% comparable sales growth and said adjusted EPS was 63 cents, helped by tariff refunds.
Macy's said $98 million in tariff refunds under the International Emergency Economic Powers Act boosted its second-quarter earnings. The benefit added $0.23 to adjusted diluted EPS, lifting it to $0.63 for the period ending Aug. 1.
G-III Apparel reported second-quarter net sales of $554 million, slightly below plan, while non-GAAP EPS came in at $0.26, above guidance of $0.15 to $0.25. Gross margin expanded 440 basis points year over year.