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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 ...
Lejuez's math pegs Macy's credit card business representing 49% of its operating profits in 2022, up from 35% in 2021. Pre-pandemic in 2019, the business made up 58% of Macy's operating profits.
Macy’s is warning of a spike in customers who are failing to make credit card payments, adding to the evidence of mounting financial stress on consumers.
Macy's shares fell 51 cents, or 3%, to $15.79 in morning trade. Macy's in February said it planned to close 150 stores and lay off more than 2,000 workers amid a pullback in consumer spending.
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.
The agency uploaded a daily average of 7,853 consumer complaints over the 10 days after Treasury Secretary Scott Bessent on Feb. 3 ordered the bureau's staff to stop much of its work.Five days ...
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 wants a judge to remove it from a sexual assault lawsuit against Sean "Diddy" Combs. The suit says Macy's violated a gender-violence law by ignoring an attack at the Herald Square store.