Macy’s

Retail giant Macy’s has confirmed the closure of 66 stores across the United States as part of a long-term restructuring plan aimed at revitalizing the struggling brand. The closures, which were announced Thursday, are a step toward Macy’s goal of shutting down 150 underperforming locations by 2026, leaving the company with approximately 350 stores nationwide….

Macy’s has wrapped up its investigation into an accounting employee who deliberately concealed more than $150 million in delivery expenses over nearly three years. The company has since strengthened its internal controls to prevent a recurrence of the issue. The investigation revealed that the unnamed employee, tasked with tracking small package delivery expenses, entered inaccurate…

Macy’s has delayed the release of its quarterly earnings report after uncovering accounting irregularities tied to a single employee who allegedly concealed up to $154 million in expenses over nearly three years. The irregularities, discovered through a forensic investigation, prompted the retailer to push its earnings release to December 11. According to Macy’s, the former…

Macy’s management has decided to end discussions with private investors looking to take over the company and will instead focus on its own turnaround strategy. The company’s board of directors unanimously voted to cease negotiations with Arkhouse Management and Brigade Capital Management. The decision was made due to doubts about the investors’ ability to finance…

Macy’s, under new CEO Tony Spring’s leadership, is set to close approximately 150 underperforming stores over the next three years, about 30% of its total fleet, to ensure its relevance to shoppers. Spring, who assumed the role on February 4, aims to optimize the remaining 350 Macy’s locations while expanding smaller store formats and increasing…