Macys

Macy's Takes Action to Recover Bonuses After Disturbing Accounting Scandal

11 hours ago

In a startling turn of events, Macy's Inc. has made the decision to reclaim executive bonuses following revelations of significant accounting discrepancies that have emerged within the retail giant. This move marks a critical juncture for the company as it grapples with the implications of this scandal on its leadership and corporate governance.

Macy's Appoints Former Capri Executive to Key Financial and Operational Roles

1 day ago

In a significant move to bolster its executive leadership, Macy's has appointed a former executive from Capri Holdings Limited to take on dual roles as Chief Operating Officer (COO) and Chief Financial Officer (CFO). This strategic decision is part of Macy's ongoing effort to enhance its operational efficiency and financial management amid a rapidly changing retail landscape.

Macy's Adjusts Sales Forecast Following Underwhelming Holiday Season

3 months ago

In a surprising turn of events, Macy's has revised its sales projections for the fiscal year, citing disappointing performance during the recent holiday shopping season. The iconic department store chain had hoped to attract a surge of consumers during the key retail period, but sales figures fell short of expectations, prompting concerns about the company's future performance.

Macy's Adjusts Profit Forecast Amid Accounting Oversight

4 months ago

In a significant development for the retail sector, Macy's Inc. has revised its full-year profit outlook, attributing the adjustment to an accounting error identified internally. This announcement has stirred concerns among investors and analysts, as the company navigates a challenging landscape marked by fluctuating consumer demand and a competitive market.

Macy's Faces Pressure from New Activist Investor to Establish Real Estate Division

4 months ago

In a strategic move that has captured the attention of the retail industry, Macy's Inc. is now facing demands from a new activist investor to spin off a portion of its real estate assets into a dedicated standalone entity. This development comes amid ongoing efforts from various stakeholders to enhance the retailer's value and operational efficiency.

Investigation Reveals Macy’s 'Impressive' Metrics Were Manipulated by Employees

4 months ago

Macy’s Inc., a staple of American retail, is facing scrutiny after a recent investigation uncovered that a previously praised financial metric was artificially inflated. According to sources, the internal measure, which the company showcased as a hallmark of its operational efficiency, was allegedly manipulated by employees who engaged in deceptive accounting practices to enhance financial results.

Macy's Delays Earnings Report Amid Ongoing Employee Investigation

4 months ago

In a surprising turn of events, Macy's has announced a postponement of its upcoming earnings report as the company navigates an internal investigation involving employee-related issues. This decision comes in the wake of rising scrutiny over corporate governance and ethical practices, raising questions about the retail giant's operational integrity.