Macy’s has delayed its earnings call after discovering a multimillion-dollar “intentional” employee accounting error. That employee, the retailer said in a securities filing Monday (Nov. 25) had hidden at least $132 million in delivery expenses over a nearly three-year period. According to the filing, this employee — who...
Economic pressures are driving shoppers to scrutinize their discretionary spending more carefully, according to Macy’s, with even high-income customers showing increased selectivity in their purchases of luxury items. On a call with analysts Tuesday (May 21) discussing the company’s first-quarter 2024 financial results, Macy’s Chairman...
The U.S. retail industry may be on the brink of a significant transformation as department store chains Nordstrom and Macy’s consider a shift toward private-equity or hedge-fund ownership. These potential moves could have extensive implications for the retail sector, reshaping the landscape of the industry,...
With economic pressures squeezing the lower and middle classes’ budgets, brands and retailers are setting their sights on the shoppers who still have cash to burn. Indeed, many brands that operate across luxury and mass-market categories are turning their focus to the higher end of...
December 11, 2024
Will Macy’s Bold New Chapter strategy be enough to save the iconic company and return it to profitable growth? Macy’s is facing a challenging period marked by declining sales, changing consumer habits and pressure from activist investors calling for a fiscal overhaul. In recent years, the company has dealt with falling revenue and a drop […]
November 25, 2024
Macy’s has delayed its earnings call after discovering a multimillion-dollar “intentional” employee accounting error. That employee, the retailer said in a securities filing Monday (Nov. 25) had hidden at least $132 million in delivery expenses over a nearly three-year period. According to the filing, this employee — who no longer works for the company — “intentionally made erroneous […]
March 20, 2024
The U.S. retail industry may be on the brink of a significant transformation as department store chains Nordstrom and Macy’s consider a shift toward private-equity or hedge-fund ownership. These potential...
February 27, 2024
Macy’s plans to close 150 of its stores as it focuses on its luxury brands. The department store chain made this announcement Tuesday (Feb. 27) as it released quarterly earnings, saying that the closures...
December 22, 2023
As the holiday season approaches, last-minute shoppers are reportedly finding that major retailers are offering smaller discounts and fewer markdowns on their products. The reduction in discounts during this crucial...
