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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 stock price fell as much as 4% in premarket trading on Monday. The company was due to report its earnings on Tuesday; it said the release is now planned for December 11 as it completes its ...
In some preliminary third-quarter results, Macy’s noted that net sales were down 2.4% year over year to $4.74 billion. David Swartz, senior equity analyst at Morningstar, wrote in a note on ...
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.
Macy’s released a preliminary earnings report Monday and revealed that quarterly sales slipped 2.4% to $4.7 billion because of weakness in its digital channels and cold weather categories as the ...
Macy's (originally R. H. Macy & Co.) is an American department store chain founded in 1858 by Rowland Hussey Macy.It has been a sister brand to the Bloomingdale's department store chain since being acquired by holding company Federated Department Stores in 1994, which renamed itself Macy's, Inc. in 2007.
1992: Remaining 2 locations in the Philadelphia market are closed. 1992: Allied is fully merged into FDS. [6] 1994: With the purchase of R.H. Macy by FDS, the Manhattan Mall location of Abraham & Straus is converted to Stern's and serves as the flagship for the chain, which re-enters the New York market. 2001: FDS closes its Stern's division. [7]
Macy's on Monday delayed its third quarter earnings release as it conducts an internal investigation into an employee hiding up to $154 million of expenses.An employee responsible for small ...