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Macy's stock was slammed 14% on the warning, justifiably so. The credit card business has long been a pure profit center for a retailer like Macy's. Per data from Citi analyst Paul Lejuez, Macy's ...
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.
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 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 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 sounds the alarm on credit card ...
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.
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The first Macy's fireworks show in New York City was held on July 1, 1958 to celebrate the department store's 100th anniversary. [2] In 1976, Macy's partnered with The Walt Disney Company to hold a fireworks display in honor of the United States' bicentennial, leading to the show becoming an annual tradition.