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Macy’s Inc. is clawing back more than $600,000 in cash bonuses from executives after an accounting scandal led to inflated pay. The department-store operator tied executives’ cash bonuses to an earnings metric that turned out to be overstated by around $81 million in 2023, Macy’s said in a securities filing on Tuesday evening. That meant … Read more
Macy’s Inc. (NYSE: M) reported its fourth quarter 2024 earnings results today. Net sales decreased 4.3% year-over-year to $7.8 billion. Comparable sales were down 1.1% on an owned basis and up 0.2% on an owned-plus-licensed-plus-marketplace basis. Net income was $342 million, or $1.21 per share, compared to a loss of $128 million, or $0.47 per … Read more
Department store chain Macy’s, Inc. (NYSE: M) has provided an update on its fiscal fourth quarter 2024 results and outlook. Estimated comparable sales are roughly flat quarter-to-date, with Macy’s non-First 50 locations performing below expectations and generating negative comparable sales The go-forward business achieved quarter-to-date comparable sales growth, with Macy’s First 50 locations and luxury … Read more
By Kanishka Singh (Reuters) – Seven people were injured in New York City on Christmas Day when a taxi jumped a sidewalk and hit pedestrians outside a Macy’s (NYSE:) department store after the cab driver suffered a medical episode, police said on Wednesday. The incident took place in Midtown Manhattan near Macy’s flagship store in … Read more
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