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Shoppers exit a Macy's department store in Las Vegas on Sunday, Nov. 7, 2021. ... During the early stages of the investigation, Macy's initially estimated that the hidden erroneous accounting ...
Macy's is claiming a lack of serious impact after an independent investigation determined that an employee had hid $151 million in delivery expenses. Macy's is claiming a lack of serious impact ...
Macy's flagship department store in New York City. ... The investigation into the matter postponed reporting of the full third quarter 2024 financial statements and earnings conference call until ...
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.
Macy's said is it delaying reporting its third-quarter earnings results to complete an independent investigation. It anticipates reporting its full third-quarter financial results by Dec. 11.
Macy's, Inc. (previously Federated Department Stores, Inc.) is an American holding company of department stores. Upon its establishment in 1929, Federated held ownership of the regional department store chains Abraham & Straus , Lazarus , Filene's , and Shillito's .
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.
The investigation found the employee (who is no longer working at Macy’s), had made one accounting mistake in late 2021, which snowballed into years of coverup, a person briefed on the probe ...