Macy's Inc. (M)
China's yuan, OPEC cuts demand growth and Macy's cuts profits
CPI is out, will the Chinese allow a material devaluation of the yuan, OPEC cuts the demand growth of the oil market for this year and Macy's cuts their profits as a result of the intentional hiding of $151 million in expenses. Manus Cranny reports.
Macy's, Inc. (M) Q3 2024 Earnings Call Transcript
Macy's, Inc. (NYSE:M ) Q3 2024 Earnings Conference Call December 11, 2024 8:00 AM ET Company Participants Pamela Quintiliano - VP of IR Tony Spring - Chairman & CEO Adrian Mitchell - COO & CFO Conference Call Participants Matthew Boss - JPMorgan Chase Brooke Roach - Goldman Sachs Blake Anderson - Jefferies Dana Telsey - Telsey Advisory Group Oliver Chen - TD Cowen Michael Binetti - Evercore ISI Bob Drbul - Guggenheim Partners Paul Lejuez - Citi Alex Straton - Morgan Stanley Jay Sole - UBS Operator Greetings and welcome to the Macy's, Inc. Third Quarter 2024 Earnings Conference Call. At this time, all participants are in a listen-only mode.
Macy's gives update on employee who hid $151M
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.
Macy's (M) Q3 Earnings: Taking a Look at Key Metrics Versus Estimates
While the top- and bottom-line numbers for Macy's (M) give a sense of how the business performed in the quarter ended October 2024, it could be worth looking at how some of its key metrics compare to Wall Street estimates and year-ago values.
Macy's rogue employee hid $151M in expenses to cover up mistake, wasn't motivated by personal gain: report
According to the Wall Street Journal, the employee told investigators about having mistakenly understated the amount of small parcel delivery expenses in late 2021, citing a source briefed on the probe.
Macy's (M) Plunges Off Delayed Earnings, Homebuilder Downgrades
Barclays downgraded four homebuilding companies over concerns of the construction market hitting a new ceiling. Investors sold off Macy's (M) after the company reported earnings, which were delayed due to an accounting employee creating $151 million in false bookkeeping entries.
Macy's Stock Tumbles on Lower Sales, Resolved Accounting Probe
Macy's (M) shares fell Wednesday morning after the company posted its delayed third-quarter earnings report and shifted its full-year outlook to adjust for the completed investigation into the accounting error that led to the report being delayed.
Macy's (M) Lags Q3 Earnings Estimates
Macy's (M) came out with quarterly earnings of $0.04 per share, missing the Zacks Consensus Estimate of $0.07 per share. This compares to earnings of $0.21 per share a year ago.
Macy's Gears Up For Q3 Print; Here Are The Recent Forecast Changes From Wall Street's Most Accurate Analysts
Macy's, Inc. M will release its third-quarter financial results, before the opening bell, on Wednesday, Dec. 11.
Macy's Probe Found Employee Acted Alone in $151 Million Accounting Scandal
Macy's has completed its investigation into accounting problems and found that a single employee's mistake and coverup created $151 million in false bookkeeping entries.
Macy's Lowers Annual Profit Forecast Amid Accounting Misstep, Stock Tumbles
On Wednesday, Macy's Inc M reported third-quarter sales of $4.74 billion, beating the consensus of $4.72 billion.
Macy's stock sinks as profit outlook cut due to delivery-expense misstatements
Macy's cut its full-year earnings outlook, after making adjustments to reflect the impact of misstated delivery expenses.
