Macy’s posted its strongest fiscal first-quarter comparable sales performance in four years on Wednesday, as the legacy department store’s turnaround continues to show progress. 

Led by the 200 so-called reimagined stores Macy’s has upgraded, comparable sales grew 3% overall during the quarter and 1.6% at its namesake banner.  

At Bloomingdale’s, comparable sales grew 10.2%, helped by an array of buzzy brands, a “fun factor” unique in the luxury landscape and the recent bankruptcy of rival Saks Fifth Avenue, CEO Tony Spring told CNBC in an interview. 

“Is the disruption in the marketplace helpful to us? Sure,” he said. “Is it the primary reason we’re growing? No.” 

Spring said better-than-expected sales and profitability led the company to raise its full fiscal-year guidance after previously taking a cautious outlook. 

It’s now expecting 2026 net sales to be between $21.5 billion and $21.75 billion, largely ahead of expectations of $21.59 billion, according to LSEG. It anticipates adjusted earnings per share will be between $2 and $2.20, up from a previous range of between $1.90 and $2.10 and well ahead of expectations of $2.07 at the middle and high end, according to LSEG.

It now expects comparable sales to climb between 0.5% and 1.2% for the year, versus a previous outlook of a 0.5% drop to a 0.5% increase.

Macy’s shares were up more than 2% in premarket trading Wednesday.

Many retailers have reported strong growth during their fiscal first quarters in recent weeks due in part to higher-than-usual tax refunds. Some companies issued more cautious guidance for the current quarter over concerns less stimulus in the economy could lead to slower demand, especially as shoppers pay more for gas due to the war in the Middle East.

Spring said tax refunds “definitely” helped during the first quarter, but weren’t the only reason why Macy’s grew. Crucially, the same trends the company saw during the first quarter have so far continued into the second, he said. 

“We did raise our guidance in both sales and profit for the remainder of the year to reflect the business trends that we’re seeing as we start the second quarter, so pleased with the second quarter to date and the breadth of the categories that are performing,” said Spring. “Don’t see any significant change in the consumer approach to our categories and our business across all three of our name plates.” 

He said the steady consumer behavior led Macy’s to hike its outlook “despite the macroeconomic and geopolitical uncertainty.”

Here’s how the department store did in its fiscal first quarter compared with what Wall Street was anticipating, based on a survey of analysts by LSEG:

• Earnings per share: 13 cents adjusted vs. 3 cents expected
• Revenue: $4.68 billion vs. $4.61 billion expected

The company’s reported net income for the three-month period that ended May 2 was $63 million, or 23 cents per share, compared with $38 million, or 13 cents per share, a year earlier. Adjusting for restructuring costs and other one-time charges, Macy’s posted earnings per share of 13 cents.

Sales rose to $4.68 billion, up about 2% from $4.60 billion a year earlier. 

Macy’s is about two years into a three-year turnaround that Spring has spearheaded since taking over as the retailer’s chief executive. It’s included closing underperforming stores at dead malls across the country and reinvesting in the ones it decided to keep open.

Those investments have included a focus on retail fundamentals, like ensuring stores have enough staff, are enjoyable to spend time in and are stocked with items people actually want to buy.

“We’re not doing the fancy stuff, we’re doing the stuff that makes the biggest difference in the business,” said Spring. “We are really focused on product, we are really focused on taking care of the customer, and I think the results show that when we do those two things consistently, and we don’t get bored, we stay relentless in our commitment, we get the results we’re looking for.”

Timex Group India Ltd (TGIL), part of the US-headquartered Timex Group, reported revenues of Rs 800 crore for financial year 2025-2026, up 48% year on year. The company reported a profit before tax of Rs 107.4 crore, up 151% year on year.

Timex Group’s EBITDA stood at Rs 116 crore versus Rs 49.7 crore in the corresponding period of the previous fiscal year. On a quarterly basis, the company clocked revenues of Rs 236 crore in quarter four of fiscal year 2026, up 73% year on year. Profit before tax grew to Rs 38.1 crore in the quarter, up 191% year on year. Times Group reported an EBITDA of Rs 40.4 crore for quarter four, up 167% year on year.

The company said Timex, its core brand, grew 62% year on year, while Guess reported a growth of 51%. Versace delivered a 48% growth compared to the previous fiscal.

MD Deepak Chhabra said financial year 2025-2026 has been a ‘landmark’ phase for Timex Group India.

“Over the last four years, we haven’t just grown, we’ve fundamentally reshaped the business. We are witnessing strong traction across the fashion and luxury watch segments, driven by rising consumer aspiration and demand across markets,” he said.

“As we move forward, our focus is clear: aggressively expanding our portfolio, sharpening our brand mix, scaling manufacturing capabilities, and building deeper consumer relevance through design, innovation, and cultural connect,” he added.

The company said its e -commerce channels recorded a 90% growth in fiscal year 2026 over the previous year. The company said it continued to witness ‘strong traction’ for bridge-to-luxury watches with automatic watches, elevated collaborations, and design-led product categories.

Gokaldas Exports reported a net profit of Rs 36 crore for the quarter ended March 31, 2026 (Q4 FY26), up 146% sequentially from Rs 15 crore in the previous quarter, reflecting an improvement in operating performance amid a challenging trade environment.

On a year-on-year basis, however, profit was lower than Rs 53 crore reported in Q4 FY25.

The company also reported a 9% quarter-on-quarter rise in consolidated total income to Rs 1,087 crore, compared with Rs 998 crore in the preceding quarter, aided by a recovery in its Africa business and steady performance in India despite tariff-related disruptions. The year-on-year total income growth stood at 5%, over Rs 1,035 crore recorded in Q4 of FY25.

The apparel export sector has spent much of the past year adjusting to shifts in US trade policy. In April 2025, US President Donald Trump announced reciprocal tariffs on trading partners as part of a broader effort to reshape trade relationships, creating uncertainty across global supply chains and export markets.

“Disruption due to penal US tariffs and volatile geopolitical events impacted our costs and margin during the year. Exceptional teamwork, strong customer relationships and relentless execution in the face of adversities helped us deliver a superior business performance,” said Sivaramakrishnan Ganapathi, vice chairman and managing director of Gokaldas Exports.

Operating performance also strengthened during the quarter, with EBITDA rising 40% sequentially to Rs 135 crore from Rs 96 crore in Q3 FY26. On a year-on-year basis, EBITDA declined 5% from Rs 142 crore, while margins stood at 12.4% compared with 13.7% a year earlier. Sequentially, margins expanded by 275 basis points, supported by productivity gains and tighter cost management initiatives.

For the full year FY26, total income rose 4% to Rs 4,065 crore, while EBITDA increased 2% to Rs 434 crore. EBITDA margin for FY26 stood at 10.7%, marginally lower than 10.8% in the previous year.The company said India operations grew 2% year-on-year during the quarter despite tariff-related challenges, even as apparel exports from India declined by 10%. Africa operations grew 17% year-on-year following the renewal of AGOA and comparatively more favourable tariff treatment for the region.

Ratlam-based listed jewellery firm DP Abhushan Ltd reported an 88% jump in annual profit, helped by strong demand across stores, expansion of its showroom network and improved operating margins.

The company posted a profit after tax of Rs 211.84 crore for the financial year ended March 31, 2026, compared with Rs 112.70 crore a year earlier, according to its regulatory filing.

The company said in its stock exchange filing that revenue from operations rose 23% year-on-year to Rs 4,070.33 crore in FY26 from Rs 3,312.35 crore in the previous year. Earnings before interest, tax, depreciation and amortisation (EBITDA) increased 77% to Rs 309.67 crore, while EBITDA margin expanded to 7.61% from 5.27% a year earlier.

“FY26 has been a landmark year for DP Abhushan, marked by strong operational performance, disciplined execution, and continued strategic expansion,” said Santosh Kataria, managing director of the firm. “Despite elevated gold prices and broader industry challenges impacting demand volumes, the company demonstrated remarkable resilience, delivering steady revenue growth supported by robust customer footfalls, strong conversion rates, and deep-rooted brand trust.”

The company also said it added a new showroom in Dhar, Madhya Pradesh, after opening its second outlet in Ratlam earlier in the year, bringing its total showroom count to 12.

The company has a presence in Madhya Pradesh and Rajasthan.

The company also said in its regulatory filing that it has initiated utilising Gold Metal Loans (GML) and hedging strategies to manage gold price volatility and protect margins.

San Francisco, May 21, 2026 -Chip giant Nvidia on Wednesday posted record quarterly revenue of $81.6 billion, blowing past Wall Street forecasts as insatiable demand for its artificial intelligence hardware powered another blockbuster quarter.

The results for the first quarter of fiscal 2027, ending April 26, marked an 85 percent jump from the same period a year ago and a 20 percent rise from the prior quarter, underscoring Nvidia’s status as the primary beneficiary of a global AI infrastructure buildout.

Telecom company Vodafone Idea on Saturday reported a net profit of Rs 51,970 crore for the March quarter of FY26, driven by a one-time accounting gain arising from AGR reassessment and recognition of the present value of future AGR payments. In Q4 FY25, the company had reported a net loss of Rs 7,166 crore.

The company’s revenue from operations came in at Rs 11,332 crore, a slight gain of 3% from Rs 11,017 crore in the same quarter last year, Vodafone Idea’s exchange filing showed.

For the quarter under review, EBITDA stood at Rs 4,889 crore, marking a 4.9% year-on-year increase.

Customer ARPU came in at Rs 190 compared with Rs 175 in Q4FY25, reflecting a year-on-year growth of 8.3%. The company said this remained the highest in the industry. ARPU is average revenue per user. The 4G/5G subscriber base rose to 128.9 million, up from 126.4 million in Q4FY25.

During the quarter, the board approved the issuance of fully convertible warrants worth Rs 4,730 crore ($500 million) to an Aditya Birla Group promoter entity on a preferential basis. Each warrant will be convertible into one fully paid-up equity share.

For FY26, the company reported annual revenue of Rs 44,873 crore, up 3% compared with FY25. Annual EBITDA stood at Rs 19,003 crore versus Rs 18,127 crore in FY25, registering a growth of 4.8%.

Capex spending during FY26 came in at Rs 8,742 crore.During the year, Vi 5G services were launched across 83 cities. The company also expanded its 4G coverage by 48 million, taking coverage to over 86% of the population. 4G data capacity increased by over 12% compared with FY25.

Total unique broadband towers stood at 202,008, with the addition of more than 17,300 towers during the year.

Abhijit Kishore, CEO of Vodafone Idea, said the benefits of the company’s capex investments and network rollout are now becoming clearly visible. He said Q4FY26 marked a decisive step forward, with all seven key performance parameters showing sequential improvement.

Kishore added that subscriber additions turned net positive from February 2026, which he described as a significant milestone reflecting the impact of sustained network investments.

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JSW Steel has posted a near 13-fold rise in its consolidated net profit for the March quarter aided by a one-time gain from the slump sale of BPSL Steel. The country’s largest steel-maker has also guided for reaching a production capacity of 78 million tonne by fiscal 32, up from around 36.4 million tonne currently.

The over two-fold rise in capacity will include capacity from joint ventures – POSCO and JFE Steel.

The flagship company of the JSW Group had a bottomline of Rs 19,243 crore as against Rs 1,510 crore last year. Apart from the exceptional gain, it also had a one-time charge related to the labour codes.

Adjusted for exceptional items, net profit stood at Rs 3,475 crore, more than double from the previous year.

The jump in profit was underpinned by the highest ever sales volume of Rs 7.97 million tonne during the March quarter, and the highest ever revenue from operations of Rs 51,180 crore. Reported earnings before interest, tax, depreciation and amortization for the quarter rose to Rs 8,634 crore from Rs 6,378 crore a year ago, while EBITDA margins stood at 19%.

JSW Steel reported its earnings after market hours on Thursday, and its shares closed at Rs 1,297.05 rupees on the BSE, up nearly 2% from the previous close.

GROWTH STRATEGY
JSW Steel currently has a steel production capacity of around 31.9 million tonne at a standalone level, which is slated to rise to 48.8 million tonne by fiscal 2030, and then 62 million tonne by fiscal 2032.

Including 4.5 million tonne of capacity from its joint venture with JFE Steel, the company currently has a capacity of 36.4 million tonne, which will grow to 53.3 million tonne by fiscal 2030. Including its capacity from the joint venture with South Korean steel major POSCO, the company will have a capacity of 78 million tonne by fiscal 2032.

“JSW Steel’s growth continues to be firmly India-centric, reflecting our long-term conviction in India’s growth trajectory,” the company said in a statement. “A strong domestic steel ecosystem directly contributes to self-reliance, while also creating an opportunity to build further resilience as a country, especially in increasing our energy security in an increasingly uncertain global environment,” it said.

JSW Steel has guided for spending Rs 22,000-24,000 crore on capital expenditure in the current fiscal, up from Rs 15,595 crore it spent in fiscal 2026.

The company has also announced expanding capacity at its Vijayanagar plant by another 5 million tonne by fiscal 2030 for a capital expenditure of Rs 26,000 crore. This will make it the world’s largest plant in a single location with a capacity of 25 million tonne.

Indian Railway Finance Corporation (IRFC) on Thursday reported a net profit of Rs 1,684 crore in the March-ended quarter, flat versus Rs 1,682 crore in the year-ago period. The PSU company posted a 9% year-on-year (YoY) revenue growth to Rs 7,336 crore in Q4FY26, compared to Rs 6,723 crore in the corresponding quarter of the previous financial year.

The financial service company reported a 7% sequential drop in the profit after tax (PAT) in the quarter under review to Rs 1,802 crore in Q3FY26, while the topline increased 10% quarter-on-quarter to Rs 6,661 crore in the October-December quarter of FY26.

The railway sector company is responsible for raising funds from the capital market at a competitive cost to augment railway plan finances.

IRFC’s interest income in Q4FY26 stood at Rs 2,902 crore versus Rs 2,311 crore in Q3FY26 and Rs 1,970 crore in Q4FY25, implying a 26% QoQ growth and a 47% YoY uptick.

The company incurred expenses of Rs 5,644 crore in the quarter under review versus Rs 4,917 crore in Q3FY26, while Rs 5,042 crore in Q4FY25. The expenditure was 15% higher QoQ while rising 12% YoY. The expenses were made under heads including finance cost, employee benefits and depreciation, amortisation & impairment, among other things.

Its net worth stood at Rs 56,749 crore as on March 31, 2026, compared to Rs 52,668 crore in the corresponding quarter of the last financial year.

The debt-to-equity ratio in Q4FY26 stood at 7.69 versus 7.38 in Q3FY26 and 7.83 in Q4FY25.For the financial year ended March 31, 2026, IRFC reported its highest-ever PAT of Rs 7,009 crore, compared to Rs 6,502 crore in FY25, registering a year-on-year growth of 7.80%.

IRFC’s Assets Under Management (AUM) hit a record high, expanding to approximately Rs 4.85 lakh crore through fresh sanctions and disbursements in railway-linked segments.

The company reported a net interest margin (NIM) of 1.50%.

(Disclaimer: The recommendations, suggestions, views, and opinions given by the experts are their own. These do not represent the views of The Economic Times.)

Bajaj Auto closed the March quarter with its highest-ever quarterly net profit of ₹2,746 crore, up 34% year-on-year, buoyed by record vehicle sales, a richer mix of pricier models, and a favourable rupee.

Revenue from operations rose 32% from a year earlier at ₹16,006 crore in the three months ended March 31. Ebitda jumped 36% at ₹3,323 crore, with margins at 20.8%.

Total vehicle dispatches climbed 24% to 1.37 million units, with domestic motorcycles posting a milestone quarter on the back of product launches in the Pulsar N and NS series. The KTM-Triumph portfolio sustained its strong run with more than 40% growth, while the Chetak brand crossed the 100,000-unit retail milestone in a single quarter for the first time.

Exports exceeded 600,000 units for the quarter, with revenues growing over 30% year-on-year.

Rakesh Sharma, executive director, however, forecast that industry growth in motorcycles will ease in the coming months as increase in fuel and vehicle prices is likely to weigh on consumer sentiment and sales.

“We have already seen signs of sales moderation in the month of April,” Sharma said in a post-earnings media call, referring to the 9% growth in April compared to 20% in the March quarter.

However, he expects the “softness in demand” to impact the “bottom half” (100-125cc) of the market more than the “top half” (150ccc and above). Since Bajaj Auto draws bulk of its sales from the top half, the moderation is unlikely to impact the company, he said. Also, a weaker rupee and strong exports will keep the automaker in good stead, according to Sharma.For the full year ended March 31, revenue from operations rose 17% to an all-time high of ₹58,732 crore. Net profit grew 21% to ₹9,825 crore. Ebitda rose 19% to ₹12,019 crore, with margins improving 30 basis points to 20.5%. Total volumes for the year crossed five million units — up 10%, scaling a new record, surpassing the company’s previous peak in FY19. The full-year performance was driven by strength across domestic and export markets alike, said Sharma.

Commercial vehicle volumes crossed 500,000 units for the first time, exports exceeded two million units, and Chetak revenues topped ₹4,000 crore.

In a separate filing, the company said it has redesignated Sharma as joint managing director with effect from 1 June for a period of 3 years till 2029 subject to shareholders’ approval.

The board recommended a final dividend of ₹150 per share and approved a buyback of up to 4.69 million shares at ₹12,000 each, aggregating ₹5,633 crore — together representing a 100% payout of the full year’s profit after tax.

Bajaj Auto shares closed at Rs 10,314.60 apiece, up 2.7% on the BSE. The benchmark Sensex closed 1.2% higher.