Macy’s (M) will be delaying the release of its third quarter results until December 11 after an investigation found an employee hid $132 million to $154 million in shipping expenses from the department store. According to the retailer’s preliminary earnings, its net sales are forecasted to come up $10 million shy of estimates while narrowing declines in same-store sales. Yahoo Finance senior retail reporter Brooke DiPalma relays the known facts in Macy’s ongoing investigation and breaks down the store’s preliminary earnings figures. SW Retail Advisors president Stacey Widlitz joined Yahoo Finance earlier this morning to talk more about Macy’s post-pandemic recovery compared to other major retailers. Catch Yahoo Finance’s full interview with Macy’s Chairman and CEO Tony Spring at the 2024 Yahoo Finance Invest conference To watch more expert insights and analysis on the latest market action, check out more Catalysts here.
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How the hell is this possible?
That’s what we should be asking KPMG.
How did the ticker not plunge into oblivion?🤔
GGs
🐻ish
Lemme guess – Kamala’s donor!
Are there other such employees Macy’s don’t know about?
Always blaming the employees instead of the CEOs crook’s an the major shareholders
Another insider job.
@@badcompany-n3x I don’t think you should expect a CEO to approve all journal entries and account reconciliations but you do you.
@blakefortenberry3150 $150 million is very hard to hide especially for a fortune 500 company that has many, many auditors. I don’t buy ceo or cfo involvement but this is too big to hide
iRemoving the Presidential Guards of VP Sara is a very Clear Intention of President Marcos to put VP Sara in Grave danger with possibly even death/ Killed.
smells fraudy.
Hahaha. Drama..
HOW!? Fire the CFO and the Financial Controller.
Ain’t no way in hell an employee can hide that much money!
So who was the controller that directed the poor accountant to do that. Yahoo you know better
Macy’s needs to fire the employee’s boss — along with firing their auditors.
DEI financial controller?
Hid or stole?
I just got fired, and I’m 39 years old. Now that I have 425K saved for an early retirement at age 50, 10K in an HSA, and a property that could yield an extra 200K, what possibilities do I have for a steady stream of income?
It’s reasonable to consider getting a financial advisor now, but delaying retirement might be a wiser choice
I’m wondering if I should merge all of my investing accounts into one. How should I proceed and are there any repercussions I should be aware of if I decide to do this? In addition, I plan to sell my property, which could result in an additional 200K over time. Is it better to diversify over a few different industries or combine everything into one investing account?
These are crucial questions for a financial planner. I met mine at a NYSE summit, and with her help, my wife and I reallocated our $1.7M portfolio between a traditional IRA and a brokerage account. She’s been making investments with our approval and has helped us recover twice our losses. We’re holding steady and carefully navigating more markets
great! My portfolio is not doing well. Who is your professional?
June Renae Matthysse. Just research the name. You’d find necessary details to work with a correspondence to set up an appointment
How does someone do that?? Lol
Lets be real. It wasn’t a lone wolf employee. This was top down ordered and this low level person is the scapegoat. Its the corporate way.
They gonna fire the boss later…that’s how they do business…always blaming the lil guy, but bosses tell them to inflate gains not there !!! A fact..