Macy's, Inc. M will release its third-quarter financial results, before the opening bell, on Wednesday, Dec. 11.
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.
On Wednesday, Macy's Inc M reported third-quarter sales of $4.74 billion, beating the consensus of $4.72 billion.
Macy's cut its full-year earnings outlook, after making adjustments to reflect the impact of misstated delivery expenses.
Macy's on Wednesday cut its annual profit forecast, as it struggles with increased promotions during the holiday shopping season amid weak demand at its eponymous stores, sending the shares of the department store chain down 7% before the bell.
Macy's ends delivery expense investigation, saying employee hid $151 million
In an era where department stores are losing their relevance, Macy's — once a retail giant — finds itself at a crossroads. The 166-year-old company, which has long been a staple in the U.S.
NEW YORK, NY / ACCESSWIRE / December 10, 2024 / Levi & Korsinsky notifies investors that it has commenced an investigation of Macy's, Inc. ("Macy's, Inc.") (NYSE:M) concerning possible violations of federal securities laws. Macy's issued a press release on November 25, 2024, announcing its preliminary third-quarter 2024 results.
LOS ANGELES, CA / ACCESSWIRE / December 10, 2024 / The Schall Law Firm, a national shareholder rights litigation firm, announces that it is investigating claims on behalf of investors of Macy's, Inc. ("Macy's" or "the Company") (NYSE:M) for violations of the securities laws. The investigation focuses on whether the Company issued false and/or misleading statements and/or failed to disclose information pertinent to investors.
Macy's faces calls from a pair of activist investors to make a slew of changes at the department store chain. The activist investors are Barington Capital Group and Thor Equities.
Wall Street expects Macy's Inc M to report a loss of one cent per share and $4.72 billion in revenues when the retailer reports third-quarter earnings on Wednesday before market hours.
Macy's (M) has an impressive earnings surprise history and currently possesses the right combination of the two key ingredients for a likely beat in its next quarterly report.