Thu, December 12, 2024
[ Thu, Dec 12th 2024 ]: The Fresno Bee
Ex-congressman TJ Cox will plead guilty to federal fraud charges, his attorney says
[ Thu, Dec 12th 2024 ]: Seeking Alpha
TeraWulf: Sound Strategy But High Valuation
[ Thu, Dec 12th 2024 ]: Gizmodo
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[ Thu, Dec 12th 2024 ]: MSN
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[ Thu, Dec 12th 2024 ]: Business Line
Mahindra Susten's Martial Solen secures ?1,448 crore loan
[ Thu, Dec 12th 2024 ]: Daily Mail
Major national retailer with 850 stores mulls bankruptcy - prompting fears of mass closures
[ Thu, Dec 12th 2024 ]: Business Standard
Inventurus Knowledge Solutions IPO opens today: GMP up 32%; Should you bid?
[ Thu, Dec 12th 2024 ]: Reuters
AI a productivity boost to banks but making money from it is a challenge
[ Thu, Dec 12th 2024 ]: The Age
Lord Mayor Nick Reece's almost $1m campaign war chest revealed
[ Thu, Dec 12th 2024 ]: The Hindu
J&K CM Omar Abdullah sets up interface with Jammu's civil society
Wed, December 11, 2024
[ Wed, Dec 11th 2024 ]: The New Indian Express
Shriram Finance concludes sale of housing loan arm
[ Wed, Dec 11th 2024 ]: KITV
Macy's provides more details about that employee who hid more than $150 million worth of expenses
[ Wed, Dec 11th 2024 ]: Sacramento Bee
Clear Start Tax Shows How $32,000 IRS Debt Was Se .. Down to Only $100 Through This Government Program
[ Wed, Dec 11th 2024 ]: The Hindu
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[ Wed, Dec 11th 2024 ]: Mint
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[ Wed, Dec 11th 2024 ]: businessday
FG's expanded digital tax net targets N230bn haul in 2025
[ Wed, Dec 11th 2024 ]: U.S. News & World Report
Inflation Remains a Stubborn Problem as Prices Continue to Rise
[ Wed, Dec 11th 2024 ]: Wall Street Journal
Macy's Probe Found Employee Acted Alone in $151 Million Accounting Scandal
[ Wed, Dec 11th 2024 ]: Business Line
Veranda Learning to raise ?250 crore via preferential issue for strategic acquisitions
[ Wed, Dec 11th 2024 ]: Channel NewsAsia Singapore
HSBC, World Bank's IFC launch US$1 billion trade finance programme for emerging markets
[ Wed, Dec 11th 2024 ]: Charlotte Observer
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[ Wed, Dec 11th 2024 ]: Seeking Alpha
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[ Wed, Dec 11th 2024 ]: Trinidad Express Newspapers
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[ Wed, Dec 11th 2024 ]: abp LIVE
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[ Wed, Dec 11th 2024 ]: Business Wire
Interactive Brokers Launches AI-Powered News Summaries for Smarter, Faster Investment Decisions
[ Wed, Dec 11th 2024 ]: Associated Press
Donald Trump will ring the New York Stock Exchange bell as he's named Time's Person of the Year
[ Wed, Dec 11th 2024 ]: The Royal Gazette
Financial assistance data reveals tough times for seniors
[ Wed, Dec 11th 2024 ]: The Financial Express
Shriram Finance completes sale of housing finance arm
[ Wed, Dec 11th 2024 ]: The New York Times
Serena Williams Is Competing on a New Court: Investment
[ Wed, Dec 11th 2024 ]: Business Standard
HSBC, WB's IFC launch $1 bn trade finance programme for emerging markets
[ Wed, Dec 11th 2024 ]: CNN
Albertsons calls off merger and sues Kroger
[ Wed, Dec 11th 2024 ]: Newsweek
America Sees Rise in People Quitting Their Jobs
[ Wed, Dec 11th 2024 ]: Investopedia
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[ Wed, Dec 11th 2024 ]: USA Today
'As foretold in the prophecy': Elon Musk and internet react as Tesla stock hits $420 all-time high
[ Wed, Dec 11th 2024 ]: TechCrunch
Amazon is officially in the online car sales business
[ Wed, Dec 11th 2024 ]: The StarPhoenix
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[ Wed, Dec 11th 2024 ]: Bloomberg L.P.
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[ Wed, Dec 11th 2024 ]: businesslive.co.za
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[ Wed, Dec 11th 2024 ]: El Paso Times
El Paso mayoral race: Business community's cash flows mostly to Renard Johnson's campaign
[ Wed, Dec 11th 2024 ]: CBC.ca
Halifax taking steps toward diversity and inclusion, but oversight is needed: Auditor General
[ Wed, Dec 11th 2024 ]: Forbes
Trump's Cabinet And Key Jobs: Kimberly Guilfoyle, .. acob Helberg And Andrew Ferguson Are Latest Picks
[ Wed, Dec 11th 2024 ]: Reuters
BNY CEO optimistic on US economic growth, AI potential
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[ Wed, Dec 11th 2024 ]: AOL
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[ Wed, Dec 11th 2024 ]: Yahoo Finance
ExxonMobil to increase oil and gas output by 18% by 2030
[ Wed, Dec 11th 2024 ]: Emirates247
UAE Cabinet reviews achievements in 2024 Global C .. ucation, Human Development, and Community Council
[ Wed, Dec 11th 2024 ]: MSN
New Shein advisory boards to bolster corporate responsibility and strategy
[ Wed, Dec 11th 2024 ]: The Independent
FTSE finishes higher after banking stocks boosted by motor finance appeal
[ Wed, Dec 11th 2024 ]: 24/7 Wall St
I'm in my 40s with $9 million banked and I don't .. can stand to work for my boss for another second

Macy's Details Multimillion-Dollar Accounting Error in Downbeat Report

The article from The New York Times discusses an accounting error at Macy's that led to a significant restatement of its financial earnings. Macy's announced that due to an error in calculating its inventory, the company had overstated its profits for the previous fiscal year. This mistake resulted in a downward revision of earnings by approximately $100 million. The error was attributed to a miscalculation in the valuation of inventory, which was not caught during the initial audit. Macy's has since corrected the figures and is implementing new internal controls to prevent future discrepancies. The revelation of this error has raised concerns among investors about the accuracy of Macy's financial reporting and has led to a slight dip in its stock price. The company's CEO issued a statement apologizing for the oversight and reassured stakeholders of the company's commitment to transparency and accuracy in financial reporting.

Read the Full The New York Times Article at:
[ https://www.nytimes.com/2024/12/11/business/macys-earnings-accounting-error.html ]