Reported about 6 hours ago
Macy's has postponed its Q3 earnings report as it investigates an employee who allegedly concealed $132 to $154 million in expenses through erroneous accounting. The employee is no longer with the company, and Macy's asserts that this issue did not affect cash management or vendor payments. Despite a slight decline in same-store sales, the company is focusing on its strategy for a successful holiday season while planning store closures and improvements.
Source: YAHOO