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$M This is a rare tweet for me. A name I have traded in the past with some success and some failure is Macy’s. Took a position today because after an accounting mistake delayed their quarterly earnings report the stock actually broke out of a 3-4 month range today. Find this…
A former central Pennsylvania township secretary has been charged after more than $532,000 went missing https://t.co/ChbEJsu8Dg
Office manager accused of embezzling $150K from masonry business https://t.co/OMFajmJAzL
Macy's is facing significant challenges following the revelation of a $154 million accounting scandal involving a former employee who concealed expenses. The retailer announced a delay in reporting its third-quarter earnings results to conduct an independent investigation into the matter. This scandal comes amid a reported 2.4% decline in net sales, totaling $4.742 billion for the quarter. The situation has raised questions about the company's oversight mechanisms and its ability to detect such a substantial discrepancy over an extended period. As Macy's navigates this crisis, it remains to be seen how these developments will impact its operations and investor confidence.
