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Macy's said it discovered the issue while preparing its financial report for the quarter ending Nov. 2. It did release preliminary findings for the period, saying overall net sales declined 2.4% ...
Macy's on Monday delayed its Q3 earnings release as it conducts an internal investigation into an employee hiding hundred of millions of dollars of expenses. ... Net sales: $4.74 billion versus $4 ...
(Reuters) -Macy's on Monday delayed its third-quarter results after finding that an employee hid as much as $154 million in expenses over years, instead issuing preliminary sales figures that fell ...
On February 2, 2009, Macy's announced the elimination of 7,000 jobs, or 4% of its workforce, and slashed its dividend as it looked to lower expenses as part of a major restructuring. Cincinnati-based Macy's Inc. stated that the workforce reduction included positions in offices, stores, and other locations, and the cuts include some unfilled jobs.
Former Macy's logo, until 2019, although it is seen on many storefronts. Rowland Hussey Macy opened four retail dry goods stores between 1843 and 1855. One of them was the original Macy's store in downtown Haverhill, Massachusetts; it opened in 1851 to serve the mill industry employees of the area.
In 2005, May was acquired by Federated Department Stores for $11 billion (~$16.5 billion in 2023) in stock, with all former May divisions being folded into Federated's various Macy's branches. [14] [15] In 2006, over 400 former May stores, with their wide variety of long-standing brand names, were consolidated and renamed as Macy's.
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