Macy’s says employee hid up to $154 million in expenses, delaying Q3 earnings

KIFI

Published November 25, 2024 2:06 PM

AP Business Writer

Macy’s says it’s delaying the release of its fiscal third-quarter earnings results after it discovered an up to $154 million accounting-related issue. The company did provide some preliminary results for its third quarter, including that net sales fell 2.4% to $4.74 billion. It anticipates reporting its full third-quarter financial results by Dec. 11.

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