Macy’s Inc. raised its annual outlook and reported its best comparable sales growth in three years, signaling that consumers are still spending despite concerns about inflation and tariffs.

Citing strength across the company, the retailer announced on Wednesday that it now expects net sales of up to €21.45 billion for the fiscal year, slightly above its previous guidance of €21.4 billion and exceeding analysts’ expectations.

"This is the beginning of a momentum change at Macy’s," Chief Executive Officer Tony Spring told Bloomberg News. He noted that the back-to-school season is "off to a good start," calling it a "good barometer" for the holiday season.

The stock rose as much as 22% in New York trading on Wednesday, marking the largest intraday gain since 2023. Shares of Macy’s had fall

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