Macy's Inc. (M)
Stock Of The Day: Macy's Hits Resistance Following Accounting Scandal
Macy's delayed its Q3 earnings release, revealing an internal investigation into an employee who allegedly hid hundreds of millions of dollars in expenses.
Macy's Employee Accused of Concealing $132 Million in Delivery Costs
Macy's has delayed its earnings call after discovering a multimillion-dollar “intentional” employee accounting error. That employee, the retailer said in a securities filing Monday (Nov. 25) had hidden at least $132 million in delivery expenses over a nearly three-year period.
Macy's Stock Slips After Error Leads to Q3 Earnings Delay
Macy's (M) shares moved lower Monday morning after the retailer said its official third-quarter results would be delayed so that an independent investigation into an accounting issue can be completed.
Why Macy's delayed its Q3 earnings release
Macy's Inc (NYSE: M) no longer expects to report its third-quarter financial results on November 26th. The department-store chain cited “erroneous accounting accrual entries” as it delayed the earnings release on Monday.
Macy's finds ‘erroneous' accounting entries, leading to delay of earnings report
Macy's identified a single employee who made “erroneous” accounting entries to hide up to $154 million in delivery expenses during a three-year period.
Macy's delays earnings after finding $132M-plus fraud by employee
Macy's, Inc. (Macy's, Inc. (NYSE:M)) said its third-quarter earnings release will be delayed after an employee was found to have hidden more than $132mn of delivery expenses since late 2021. The retailer was due to report its results on Tuesday, but during the preparation of the numbers it "identified an issue related to delivery expenses" and initiated an investigation.
Macy's delays Q3 earnings report after accounting issue
CNBC's Becky Quick reports on the latest news from Macy's.
Macy's to Delay Third-Quarter Earnings Because Employee Hid Expenses. The Stock Falls.
Macy's delays its full third-quarter earnings release to complete an independent investigation.
Macy's says quarterly sales dropped, delays full earnings release due to accounting issue
Macy's posted preliminary third-quarter results but delayed its full earnings report as it investigates an accounting issue. The company said it discovered erroneous reporting of delivery expenses from one employee.
Macy's delays Q3 report on accounting issue, sales misses in preliminary results
Macy's on Monday delayed publication of its third-quarter results after discovering an accounting issue related to delivery expenses and instead reported preliminary results in which its sales missed Wall Street expectations.
Macy's, other big retailers hike store-branded credit card rates as holidays ramp up
Big Lots, Academy Sports, Burlington, Michael's and Petco are tied for the highest APR at a whopping 35.99% as of September, according to a report.
Macy's (M) Q3 Earnings Preview: What You Should Know Beyond the Headline Estimates
Beyond analysts' top -and-bottom-line estimates for Macy's (M), evaluate projections for some of its key metrics to gain a better insight into how the business might have performed for the quarter ended October 2024.
