Thu, December 12, 2024
[ Thu, Dec 12th 2024 ]: The Rolla Daily News
Business Finance Brokers vs. Banks: Which Option Is Best for Your Business?
[ Thu, Dec 12th 2024 ]: Beef Central
Nigel Kerin's 2024 trade: Using forward contracts and swaps on thousands of heifers
[ Thu, Dec 12th 2024 ]: The Daily Star
ADB gives $100 million loan for Bangladesh infrastructure finance fund
[ Thu, Dec 12th 2024 ]: Arabian Business
Apple integrates ChatGPT feature in its new iOS and iPadOS updates
[ Thu, Dec 12th 2024 ]: Cyprus Mail
Cyprus Business Now: tax agreement, reputation campaign, housing loan subsidy
[ Thu, Dec 12th 2024 ]: businesstech.co.za
Trouble brewing at SA's borders, and big step forward for rail in Cape Town
[ Thu, Dec 12th 2024 ]: NOLA.com
New Orleans makes moves to demolish Plaza Tower, the city's 'most wanted' eyesore
[ Thu, Dec 12th 2024 ]: 9NEWS
Someone withdrew $420 from her account, but the bank refused to call it fraud
[ Thu, Dec 12th 2024 ]: https//businessofhome.com
6 strategies to make 2025 your most successful year yet
[ Thu, Dec 12th 2024 ]: Bloomberg L.P.
Commerzbank to Assign More Employees to Branches in Revamp
[ Thu, Dec 12th 2024 ]: Business Today
'Entirely incorrect': PM's advisor Shamika Ravi s .. s never received money directly from George Soros
[ Thu, Dec 12th 2024 ]: Buffalo News
Hamburg IDA opposes town's proposed multifamily development moratorium
[ Thu, Dec 12th 2024 ]: Sydney Morning Herald
ASX set to rise as Wall Street gets inflation bump
[ 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
Why Crypto Bros Are So Obsessed with 'Debanking'
[ Thu, Dec 12th 2024 ]: MSN
5 signs you're investing too much money, even when the stock market soars
[ 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 ]: 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 ]: Mint
Tata Trusts continues to oppose transfer of Tata Sons shares owned by SP Group
[ 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 ]: Reuters
Wells Fargo CEO expresses more confidence in regulatory fixes
[ Wed, Dec 11th 2024 ]: Seeking Alpha
PDD Holdings: Great Business, Big Potential, Low Valuation
[ Wed, Dec 11th 2024 ]: Trinidad Express Newspapers
UWIDEF provides $1.15m in sholarships and bursaries
[ Wed, Dec 11th 2024 ]: abp LIVE
Capricorn Horoscope Tomorrow (Dec 12): Focus On S .. And Balance In Career, Health, And Relationships
[ 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 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 ]: Yahoo Finance
WD-40 Company Increases Quarterly Dividend and Sc .. dules First Quarter 2025 Earnings Conference Call
[ 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
Revealed: The Key Characteristics of Costco's Average Customer
[ 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 ]: AOL
Luigi Mangione, accused UnitedHealthcare CEO shoo .. and attended a $37,000-a-year private high school
[ Wed, Dec 11th 2024 ]: Forbes
Project 2025: Implications For Labor Policies And Workforce Dynamics
[ Wed, Dec 11th 2024 ]: Bloomberg L.P.
What's Wrong With Nissan and How Can the Japanese Carmaker Survive?
[ Wed, Dec 11th 2024 ]: TechCrunch
Amazon is officially in the online car sales business
[ Wed, Dec 11th 2024 ]: MSN
Prolonged protests and backtrack on EU accession threaten Georgia's economic stability

Macy's Probe Found Employee Acted Alone in $151 Million Accounting Scandal

  Copy link into your clipboard //business-finance.news-articles.net/content/202 .. ted-alone-in-151-million-accounting-scandal.html
  Print publication without navigation Published in Business and Finance on by Wall Street Journal
          🞛 This publication is a summary or evaluation of another publication 🞛 This publication contains editorial commentary or bias from the source
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.
Macy's Inc. reported a significant decline in its third-quarter earnings for 2024, with adjusted earnings per share dropping to 15 cents from 21 cents the previous year, missing Wall Street expectations. The company's revenue also fell by 7.1% to $4.86 billion, which was below the anticipated $4.81 billion. This downturn was attributed to a challenging retail environment, with Macy's experiencing a 6.7% decrease in same-store sales, driven by reduced consumer spending on discretionary items like apparel and accessories. Despite these setbacks, Macy's managed to slightly improve its gross margin by 10 basis points to 38.4%, thanks to lower markdowns and reduced freight costs. However, the company's operating income saw a sharp decline of 67% to $100 million, reflecting the broader pressures on profitability. In response, Macy's has been focusing on cost-cutting measures, including layoffs and store closures, while also attempting to pivot towards more profitable segments like beauty and off-price retail through its Bloomingdale's and Bluemercury brands.

Read the Full Wall Street Journal Article at:
[ https://www.wsj.com/business/retail/macys-m-q3-earnings-report-2024-c7363662?mod=retail_news_article_pos5 ]