On September 10, Macy's fell 5.63% in regular trading, trading at $19.87/share, with turnover of $48.4812 million. Despite reporting Q2 results that significantly exceeded Wall Street expectations, the stock reversed early gains and declined sharply as investors opted to lock in profits.

Macy's posted Q2 adjusted EPS of $0.63, well above the consensus estimate of $0.36. Net sales reached $48.7 billion, up 1.1% year-over-year and topping the $48.26 billion forecast. Gross margin came in at 41.5%, far exceeding the 39.7% market expectation. All three brands — Macy's, Bloomingdale's, and Bluemercury — delivered stable growth. The company also guided full-year comparable store sales growth of 1% to 1.5%, above the 0.99% consensus.

However, the stock had already accumulated significant gains in recent months following Berkshire Hathaway's disclosed $55 million stake and multiple consecutive quarters of earnings beats. With the strong results largely priced in, the market appeared to treat the report as a profit-taking opportunity, sending shares sharply lower after an initial pre-market jump of over 7%.

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