Macy's (M) on Wednesday posted its official third quarter results after it concluded an internal investigation into an employee hiding up to $151 million of expenses that led to a delay in reporting.
The metric represented 0.9% of sales, up 20 basis points from the year-ago quarter. Comps across Macy’s declined 3% year over year on an owned basis and 2.2% on an owned-plus-licensed-plus ...
Comparable store sales fell 1.3%, better than the decline of 3.3% during the previous quarter. Macy’s stores had a 2.2% comparable sales decline while Bloomingdale’s had a 2% increase.
Macy's stocks fell 1.3% Thursday morning and were down about 0.3% during midday trading, Fast Company reports. Spring said net sales totaled $4.7 billion, a 2.4% drop from last year and consistent ...