Macy’s (M) Stock Jumps 6% After Berkshire Hathaway Quietly Buys In

TLDR

• Berkshire Hathaway disclosed a new stake in Macy’s worth roughly $55 million, holding about 3 million to 4 million shares as of March 31.
• Macy’s stock jumped around 5–6% after hours following the news, which came via Berkshire’s quarterly 13F filing.
• Berkshire also added nearly 40 million shares of Delta Air Lines under new CEO Greg Abel, while exiting Amazon, Visa, Mastercard, and UnitedHealth.
• Macy’s is in the middle of a turnaround, closing weaker stores and investing in higher-traffic locations, Bloomingdale’s, and Bluemercury.
• The company is guiding for lower net sales in fiscal 2026 and has flagged tariffs as a near-term headwind, with the biggest impact expected in Q1.

Berkshire Hathaway’s latest 13F filing, covering positions as of March 31, revealed a new stake in Macy’s worth roughly $55 million. The news sent Macy’s stock up about 5.9% in after-hours trading on Friday.

Macy’s, Inc., M

The filing showed Berkshire held approximately 3 to 4 million Macy’s shares. The position is small relative to Berkshire’s overall portfolio, but any link to Warren Buffett’s former company tends to get attention.

This is Berkshire’s first big move in Macy’s under Greg Abel, who took over as CEO in January after Buffett stepped down.

What Else Berkshire Did

Berkshire also added nearly 40 million shares of Delta Air Lines, which rose about 3% after hours. It increased its Alphabet position and maintained its core holdings in Apple, American Express, Coca-Cola, and Moody’s.

On the sell side, Berkshire exited Amazon, Visa, Mastercard, UnitedHealth, Aon, and Domino’s Pizza. UnitedHealth dropped 2.4% after hours on the news. The departed positions may have been managed by Todd Combs, who left Berkshire for JPMorgan Chase in April.

One important detail: 13F filings are backward-looking. The data is from March 31, so Berkshire’s actual current positions could be different.

Macy’s Turnaround Is Still a Work in Progress

Macy’s is in the middle of a broader reset. The company is closing underperforming stores and redirecting spending toward higher-traffic locations. CEO Tony Spring has talked up adding more relevant brands and putting more investment into staff.

Bloomingdale’s had a strong holiday quarter, with comparable sales up 9.9%. Bluemercury also posted solid results. Macy’s overall fourth-quarter net sales came in at $7.6 billion, with comparable sales up 1.8%.

But the road ahead looks bumpy. Macy’s is guiding for fiscal 2026 net sales between $21.4 billion and $21.65 billion, down from $21.8 billion expected in fiscal 2025. Adjusted EPS is guided in the range of $1.90 to $2.10.

Tariffs are a real concern. Macy’s sources most of its clothing, home goods, and accessories from overseas. The company has warned the tariff impact will be heaviest in the first half of the year, particularly in Q1.

The company also kept its quarterly dividend steady at 19.15 cents a share, payable July 1 to shareholders of record as of June 15.

Rival Kohl’s flagged in March that full-year sales could come in flat or down as much as 2%, with CEO Michael Bender citing cautious behavior from lower- and middle-income shoppers. Macy’s is dealing with similar pressure at its core nameplate, while Bloomingdale’s continues to attract more affluent customers.

Macy’s ended the week on a positive note, with the Berkshire news driving after-hours gains. The next real test will come at earnings, where investors want to see whether store upgrades and the Bloomingdale’s and Bluemercury focus are showing up in actual sales numbers.

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