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Tony Spring

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Macy's reports sales decline and delays earnings release due to accounting issue

Macy's reported a 2.4% decline in third-quarter sales, totaling $4.74 billion, and announced a delay in its full earnings release due to an accounting issue involving erroneous entries related to delivery expenses, amounting to $132 million to $154 million. The company expects to provide complete results and guidance by December 11. CEO Tony Spring emphasized the company's commitment to ethical conduct while the investigation continues, noting that the issue did not impact cash management or vendor payments.
CNBC
United States Dollar Macy's, Inc. USA Tony Spring
Finance & Economy, Press Release
13:38 25.11.2024
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