What is Macy's's SG&A?

Macy's (M) reported SG&A of $1.95B in Q1 2026.

How has Macy's's SG&A changed year-over-year?

Macy's's SG&A increased by 2.0% year-over-year, from $1.91B to $1.95B.

What is the long-term trend for Macy's's SG&A?

Over 4 years (2021 to 2025), Macy's's SG&A has grown at a 0.3% compound annual growth rate (CAGR), from $8.16B to $8.24B.

Combined selling expenses (sales force, marketing, distribution) and general & administrative costs (management, legal, accounting, facilities) — the broadest opex category.

Macy's M SG&A

SG&A at other companies

TargetTGT

$5.56B+21.2%

DillardsDDS

$443.98M+5.3%

TJX CompaniesTJX

$2.79B+9.6%

Ross StoresROST

$975.86M+22.4%

Ulta Beauty, Inc.ULTA

$814.7M+14.6%

Burlington StoresBURL

$989.37M+14.0%

Other financials

Income statement

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Revenue$4.9B+2.1%

Gross profit$2.0B+1.7%

Operating income$112.0M+19.1%

Net income$63.0M+65.8%

EPS (diluted)$0.23+76.9%

Balance sheet

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Cash & equivalents$1.3B+38.8%

Total debt$2.4B-12.5%

Total equity$4.8B+8.7%

Total assets$16.3B+1.3%

Cash flow

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Operating cash flow$292.0M+556%

CapEx$88.0M-12.0%

Free cash flow$204.0M+224%

Valuation

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Market cap$6.35B+71.1%

Enterprise value$7.49B+32.2%

P/E9.5×+2.9×

P/S0.3×+0.1×

Profitability

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Gross margin40.3%-0.1pp

Operating margin4.6%+0.8pp

Net margin2.9%+0.5pp

FCF margin6.3%+3.5pp

Returns & leverage

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Return on equity14.4%+1.3pp

Debt / equity0.5×-0.1×

Current ratio1.5×0.0×

Where this comes from

Reported directly by Macy's in its filing.

Tagged under the XBRL concept us-gaap:SellingGeneralAndAdministrativeExpense.

The official record: Macy's’s 10-Q, filed June 4, 2026, on SEC EDGAR. View the filing →

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Questions, answered.

What is Macy's's SG&A?: Macy's (M) reported SG&A of $1.95B in Q1 2026.
How has Macy's's SG&A changed year-over-year?: Macy's's SG&A increased by 2.0% year-over-year, from $1.91B to $1.95B.
What is the long-term trend for Macy's's SG&A?: Over 4 years (2021 to 2025), Macy's's SG&A has grown at a 0.3% compound annual growth rate (CAGR), from $8.16B to $8.24B.
What does SG&A mean?: Combined selling expenses (sales force, marketing, distribution) and general & administrative costs (management, legal, accounting, facilities) — the broadest opex category.