Macy’s third quarter profit and sales slide and so do its shares

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Macy’s Is Staffing Up in Its Top Shoe Departments — And Customers Are Responding

Macy’s is adding staff to its women’s shoes and handbags departments in an effort to improve sales. On the company’s third quarter earnings conference call, chairman and chief executive officer of Macy’s, Inc. Tony Spring told analysts that the retailer has been testing this initiative at about 100 locations. “Having dedicated runners to get shoes from the stock room and salespeople available to assist in handbags allows our colleagues to spend …

Macy's Employee Hid $151 Million In Costs Over Several Years - Macy's (NYSE:M)

Macy's uncovered $151M in falsely recorded expenses due to one employee's misconduct. The company is working to regain trust and improve operations.

TSX Composite Index (TXCX) Quote - Press Release

Real-time index price for TSX Composite Index (TXCX), along with buy or sell indicators, analysis, charts, historical performance, news and more

Macy’s provides more details about that employee who hid more than $150 million worth of expenses

By David Goldman, CNN (CNN) — Macy’s said Wednesday that it has concluded its investigation into an employee who intentionally hid more than $150 million in expenses, and it has tightened its controls to avoid a repeat of the embarrassing problem. “We’ve concluded our investigation and are strengthening our existing controls and implementing additional changes designed to prevent this from happening again and demonstrate our strong commitment to…

Macy’s cuts annual profit view as weak demand prompts heavy discounts

(Reuters) -Macy’s M.N on Wednesday cut its annual profit forecast, sending shares down 8%, as weak sales at its eponymous stores have forced it to lean on increased promotions during the holiday season. The company has been shuttering underperforming stores as it looks to cut costs. It increased its target of Macy’s store closures this year once again to 65 stores from 55 in August. Macy’s expects annual adjusted profit per share of $2.25 to $2.…