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    What Macy's (M)'s Pre‑Earnings Bearish Options Spike and Insider Selling Means For Shareholders

    Simply Wall St·02/24/2026 15:36:57
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    • Macy’s recently saw a surge in bearish options activity and rising caution tied to insider selling and an upcoming earnings report expected on March 5, adding pressure to sentiment around the retailer’s outlook.
    • This comes as Macy’s continues to refresh its assortment and elevate its brand portfolio, including adding more luxury labels under its current leadership team.
    • Next, we’ll examine how this spike in bearish options positioning ahead of earnings could influence Macy’s longer-term investment narrative.

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    Macy's Investment Narrative Recap

    To own Macy’s, you need to believe it can reposition a traditional department store model through stronger brands, better merchandising and disciplined capital returns. Right now, the key near term catalyst is the March 5 earnings report, while the biggest risk remains pressure on margins and traffic as consumers continue shifting online. The recent spike in bearish options activity and insider selling heightens short term uncertainty, but does not, by itself, alter that core thesis.

    The most relevant recent announcement here is the appointment of Dayna Ziegler, formerly of Saks Global, to lead women’s ready to wear from March 2. This hire fits Macy’s push into higher end and luxury labels, which could matter if the company can attract more affluent shoppers and support pricing power at a time when options markets are signaling caution around upcoming earnings and the health of discretionary spending.

    But while this repositioning aims higher, investors should be aware that Macy’s still faces intense promotional pressure and lingering questions about whether its brand refresh can fully offset...

    Read the full narrative on Macy's (it's free!)

    Macy's narrative projects $18.5 billion revenue and $663.0 million earnings by 2028. This assumes a 6.5% yearly revenue decline and a $169.0 million earnings increase from $494.0 million today.

    Uncover how Macy's forecasts yield a $21.90 fair value, a 3% upside to its current price.

    Exploring Other Perspectives

    M 1-Year Stock Price Chart
    M 1-Year Stock Price Chart

    Compared with the baseline view, the most optimistic analysts expect Macy’s earnings to climb toward about US$616.1 million by 2028, yet the recent bearish options activity and concerns about declining store traffic show how sharply opinions can differ and why you may want to weigh several possible paths before deciding what this stock is really worth.

    Explore 4 other fair value estimates on Macy's - why the stock might be worth as much as 17% more than the current price!

    Reach Your Own Conclusion

    Disagree with existing narratives? Extraordinary investment returns rarely come from following the herd, so go with your instincts.

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    This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.