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Macy's Newsroom
Macy's Inc (M) Q3 2024 Earnings Call Highlights: Navigating Challenges and Seizing Growth ...
Macy's Reports Mixed Third Quarter Financial Results
Macy's To Go Ex-Dividend On December 13th, 2024 With 0.1737 USD Dividend Per Share
Macy's revealed a major accounting incident: an employee falsely recorded $0.151 billion in expenses
Macy's, an established US retail giant, revealed on Wednesday the findings of an investigation into a major accounting incident that affected its financial reports for several years. The investigation determined that repeated mistakes and subsequent cover-ups by one of the company's employees led to a false recording of $0.151 billion in expenses. These differences stem from underestimated small package delivery costs starting at the end of 2021, and persist due to deliberate misbilling and falsification of documentation. This operation by this employee masks the true costs, which were not discovered until the fall of 2024. Although Macy's fired the employee, the company said the employee had no experience from these misdeeds
The NASDAQ broke through 0.02 million points for the first time, Tesla led a group of tech giants to a new high, and Bitcoin climbed to 0.1 million dollars
The Dow and Apple fell, the Nasdaq rose nearly 2%, Tesla and Google rose nearly 6%, while Meta, Amazon, and Netflix all reached new highs. NVIDIA rose over 3%, Broadcom rose nearly 7%, Super Micro Computer once dropped over 8%, the decline of Chinese concepts narrowed, and Fangdd Network turned to rise over 11%. The U.S. November CPI confirms interest rate cut bets for next week, with a pause on rate cuts expected in January next year. The dollar and U.S. Treasury yields rebounded in a V-shape, while spot Gold reached its highest level in five weeks. The yen plunged below 152, while the offshore yuan once dropped over 300 points, falling below 7.29 yuan. After a significant interest rate cut by the Bank of Canada, the Canadian dollar and Canadian bond yields turned to rise, and oil prices increased by about 2%.
Macy's Employee Hid $151 Million In Costs Over Several Years
Nasdaq Closes Above 20,000 for First Time, Dow Falls After CPI Data
Macy's Options Spot-On: On December 11th, 136.08K Contracts Were Traded, With 429.13K Open Interest
Sector Update: Consumer Stocks Mixed Late Afternoon
Macy's Says Employee Who Allegedly Hid $150 Million in Expenses Had No Major 'Impact'
Macy's Shares Fall After Profit Hit by Accounting Error
Crude Oil Jumps 2%; Macy's Lowers Earnings Forecast
Why Macy's (M) Shares Are Getting Obliterated Today
Top Midday Stories: Albertsons Kills Merger Agreement, Sues Kroger; Macy's Lowers Earnings Outlook After Accounting Probe
Nasdaq up 1%, S&P Climbs as November Inflation Data Strengthen Fed Rate-cut Bets
Market Climbs on CPI Inflation and Likelihood of Rate Cuts | Livestock
Macy's Cuts Full-Year Earnings Outlook Following Completion of Accounting Issue Probe
Macy's -8%, Probe Found Employee Acted Alone in $151 Million Accounting Scandal
Macy's Delayed Q3 Results Show Sales Decline as Its Stock Drops
Macy's Falls -9.6%