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Macy’s finally released its third-quarter earnings on Wednesday after having to delay it due to a massive accounting scandal caused by one employee. The employee, who no longer works for Macy ...
Macy's said an employee intentionally made accounting errors totaling $132 million to $154 million. Auditing experts told BI the available evidence suggests a failure of internal accounting controls.
Macy's so-called First 50 stores – which are the ones Macy’s has renovated and put more effort into with extra customer service — produced a comparable sales gain of 1.9% in the latest quarter.
If you use a 3rd-party email app to access your AOL Mail account, you may need a special code to give that app permission to access your AOL account. Learn how to create and delete app passwords. Account Management · Apr 17, 2024
Macy's said Wednesday that it has tightened internal financial accounting measures after completing a probe of a rogue employee who hid $151 million in delivery expenses over a span of nearly ...
Macy’s on Monday said an employee responsible for managing accounting for small package deliveries concealed up to $154 million in expenses over the course of nearly three years.
Last year, Macy’s announced it was closing 150 underperforming stores by 2026, shrinking its footprint to about 350 locations when the plan is finished. The 66 store closings revealed Thursday ...
Macy's has been struggling with flagging sales as consumers increasingly turn from physical retail to e-commerce. In Q2, its sales dropped 3.8% to $4.9 billion while same-store sales declined 4% ...