For the quarter ended October 2024, Macy's (M) reported revenue of $4.74 billion, down 2.4% over the same period last year. EPS came in at $0.04, compared to $0.21 in the year-ago quarter.The reported revenue represents a surprise of +0.28% over the Zacks Consensus Estimate of $4.73 billion. With the consensus EPS estimate being $0.07, the EPS surprise was -42.86%.While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next ...

Macy’s said an investigation into accounting problems found that a rogue employee hid more than $151 million in expenses to cover up a bookkeeping mistake and wasn’t motivated by personal or financial gain, according to a report.News of the accounting coverup in late November delayed the company’s quarterly earnings report and sent its shares tumbling. The department store giant’s shares slid by more than 11% on Wednesday after Macy’s cut its profit outlook for the year. 3 Macy’s chief executive Tony Spri ...

Key TakeawaysMacy's shares fell Wednesday morning after the retailer posted its delayed earnings report, pushed back last month after an accounting issue was discovered.Sales fell short of what analysts had expected, with sales declining at Macy's stores and rising at its higher-end brands Bloomingdale's and Bluemercury.The company's probe into an accounting issue has ended, and found that a single employee acted alone in covering up some $151 million in expenses since 2021. Macy's (M) shares fell Wednesday ...

Macy's (M) came out with quarterly earnings of $0.04 per share, missing the Zacks Consensus Estimate of $0.07 per share. This compares to earnings of $0.21 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of -42.86%. A quarter ago, it was expected that this department store operator would post earnings of $0.32 per share when it actually produced earnings of $0.53, delivering a surprise of 65.63%.Over the last four quarters, the c ...

On Wednesday, Macy’s Inc M reported third-quarter sales of $4.74 billion, beating the consensus of $4.72 billion.Macy’s net sales decreased 2.4%, with comparable sales down 2.4% on an owned basis and down 1.3% on an owned-plus-licensed-plus-marketplace basis.Sales growth at Macy’s First 50 locations, Bloomingdale’s, and Bluemercury was offset primarily by weakness in Macy’s non-First 50 locations, digital channels, and cold weather categories.Also Read: Macy’s Delays Q3 Earnings Report Amid Investigation Ov ...

Macy's on Wednesday said it has wrapped up an investigation into an employee who intentionally hid about $151 million of delivery expenses on its accounting books for nearly three years and has revised those years of its historical financial statements.In a statement, CEO Tony Spring, who stepped into the role in February, said Macy's is "strengthening our existing controls and implementing additional changes designed to prevent this from happening again and demonstrate our strong commitment to corporate go ...

Exhibit 99.1 macys inc Macy's, Inc. Reports Preliminary Third Quarter 2024 Results Macy's First 50 locations achieve third consecutive quarter of positive comparable sales Company delays third quarter 2024 earnings release and conference call NEW YORK—November 25, 2024— Macy's, Inc. (NYSE: M) today reported preliminary financial results for the third quarter of 2024. Preliminary Third Quarter Highlights • Macy's First 50 locations delivered third consecutive quarter of comparable sales growth, up 1.9%. • Bl ...

NEW YORK, Dec. 05, 2024 (GLOBE NEWSWIRE) -- Why: Rosen Law Firm, a global investor rights law firm, announces an investigation of potential securities claims on behalf of shareholders of Macy’s, Inc. (NYSE: M) resulting from allegations that Macy’s may have issued materially misleading business information to the investing public. So What: If you purchased Macy’s securities you may be entitled to compensation without payment of any out of pocket fees or costs through a contingency fee arrangement. The Rose ...

NEW YORK, Dec. 4, 2024 /PRNewswire/ --Why: Rosen Law Firm, a global investor rights law firm, announces an investigation of potential securities claims on behalf of shareholders of Macy's, Inc. (NYSE: M) resulting from allegations that Macy's may have issued materially misleading business information to the investing public.So What: If you purchased Macy's securities you may be entitled to compensation without payment of any out of pocket fees or costs through a contingency fee arrangement. The Rosen Law Fi ...

NEW YORK, Dec. 03, 2024 (GLOBE NEWSWIRE) -- Bragar Eagel & Squire, P.C., a nationally recognized stockholder rights law firm, is investigating potential claims against Macy’s, Inc. (“Macy’s” or the “Company”) (NYSE:M) on behalf of Macy’s stockholders. Our investigation concerns whether Macy’s has violated the federal securities laws and/or engaged in other unlawful business practices. Click here to participate in the action. On November 25, 2024, Macy's issued a press release announcing its preliminary thir ...