On November 25, 2024, The New York Times published an article entitled “Macy’s Discovers Employee Hid Millions in Delivery Expenses.” This article stated that “Macy’s said on Monday that an employee had “intentionally” misstated and hidden up to $154 million in delivery expenses over the past few years, forcing the retailer to delay a much-anticipated earnings report that Wall Street uses to gauge the strength of holiday shopping.”
On this news, the price of Macy’s, Inc. stock fell 2.2% on November 25, 2024.
