CNBC's Courtney Reagan joins 'Squawk Box' to break down the company's quarterly earnings results.

Macy's reported quarterly earnings of $0.41 per share, significantly exceeding the consensus estimate of $0.18, with revenues reaching $4.81 billion, also above expectations. The company raised its full-year earnings and sales guidance, now projecting earnings between $1.70 and $2.05 per share and net sales of $21.15 to $21.45 billion. Comparable sales grew 1.9%, marking the best performance in three years, with all business segments, including Bloomingdale's and Blue Mercury, showing growth.

CEO Tony Spring attributed the positive results to the company's new strategic direction and improved customer experience, despite ongoing challenges such as tariffs. Macy's continues to manage inventory carefully and is focusing on introducing new merchandise, particularly for the upcoming holiday season.

Macy’s shares pop 10% as retailer tops earnings estimates

All right, Macy's just reporting its numbers. Courtney Reagan has the details. Court, what are you seeing? Yeah, Becky, I mean, much better than expected, frankly, a quarter. And Macy's is pointing to its overall strategy as the driver. So earnings coming in at $0.41. That beats consensus for $0.18 on stronger than expected revenues of $4.81 billion versus $4.76 billion. Now, the retailer also increasing its guidance, but with caution, and now expecting full-year earnings in a range of $1.70 to $2.05. That was from $1.60 to $2, so an increase on both ends. On net sales of $21.15 billion to $21.45 billion, that also is an increase from $21 to $21.4 billion. Total comparable sales, so whole business all in, grew 1.9%. That's the best performance in 12 quarters. Now, the Macy's business itself, those comps grew 1.2%. Bloomingdale's up 5.7%, and Blue Mercury up 1.2%. I spoke briefly with CEO Tony Spring, who said, I look at it as the beginning point of the impact of the bold new chapter. That's the strategy. Momentum has a beginning, and this is that opportunity. And then when it comes to guidance, while the retailer did raise its full-year earnings, it is still below the initial guidance it had given for the year back in March. And when I asked Spring about that, he told me it is the impact of tariffs. Quote, tariffs are real. It's a component of the business, but we have tailwinds, a better customer experience. That's a newer assortment, less redundancy on our assortment, and now a business that's growing across all three nameplates in our portfolio and a healthy inventory position. Inventories for the company, if you'll notice in the release, a little bit down, in fact. And remember, they're going through closing stores, and they're trying to run through some of the spring merchandise to make sure that 50% of what we'll see during the holiday season is going to be new. That is what Spring says the customer is really responding to, the fashion and the newness, maybe the basics and the active. That's an area of the business that if he had to point to softness, he would say that's where it is. Back over to you.

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