Macy’s Says Employee Hid $154 Million In Expenses

November 25, 2024 9:15 am

Macy’s says it’s delaying the release of its fiscal third-quarter earnings results after it discovered an up to $154 million accounting-related issue. The company did provide some preliminary results for its third quarter, including that net sales fell 2.4% to $4.74 billion. It anticipates reporting its full third-quarter financial results by Dec. 11.