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Macy's CEO Tony Spring provided a fresh update on the rogue employee who hid $151 million in delivery expenses since 2021 and disclosed the individual is no longer with the company.
The company said it would record a full-year estimated delivery expense impact of $79 million and also cut its annual profit forecast – reducing annual adjusted profit per share of $2.25 to $2. ...
Macy's is closing more stores than it originally announced earlier this year. According to the company's third quarter earnings report, the department store chain is expected to close 65 locations ...
Good morning. Macy’s is in crisis mode after disclosing that an employee cooked the books for years, using unethical accounting practices to hide well over $100 million in expenses.
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 turned down the deal because it was “not actionable and…fails to provide compelling value to Macy’s Inc. shareholders,” the company said in a statement. To be sure, Macy’s hired ...
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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.