Loading...
Market
Will Macy's experience leadership changes due to the investigation by September 30, 2025?
3
Resolution / Starting Odds
CEO change • 25%
CFO change • 25%
Other executive changes • 25%
No significant changes • 25%
Official announcements from Macy's or news reports
Story
Macy's Delays Earnings After Employee Hid $154 Million Over 3 Years; Stock Falls 8%
Nov 25, 2024, 02:03 PM
Macy's has delayed the release of its third-quarter earnings after discovering that a single employee intentionally hid $132 million to $154 million in delivery expenses over nearly three years, from the fourth quarter of 2021 through the third quarter of 2024. The company is conducting an independent forensic investigation into the accounting irregularities. Preliminary Q3 revenue was reported at $4.74 billion, meeting expectations, with comparable sales declining by 2.4%. Following the announcement, Macy's stock fell as much as 8% in premarket trading.
View original story
Similar markets
Employee responsible fired • 25%
Employee responsible demoted • 25%
No action taken against employee • 25%
Employee resigns • 25%
Arkhouse Management • 25%
Brigade Capital • 25%
Another Company • 25%
No Acquisition • 25%
No further discrepancies found • 25%
Minor discrepancies found • 25%
Significant discrepancies found • 25%
Investigation inconclusive • 25%
Yes • 50%
No • 50%