secwatch.observer — SEC 8-K summary
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Issuer:     Macy's, Inc. (M)
CIK:        0000794367
Form:       8-K
Filed at:   2024-11-25T23:59:59+00:00
Accession:  0000794367-24-000199
Event type: other_material
Sentiment:  negative
Materiality: 0.80
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Macy's reports preliminary Q3 sales of $4.74B; employee hid $132-154M in delivery expenses
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- Preliminary Q3 net sales $4.742B, down 2.4% YoY; comparable sales down 2.4% owned, 1.3% owned-plus-licensed-plus-marketplace.
- Macy's First 50 locations had 3rd straight quarter of comparable sales growth (+1.9%); Bloomingdale's and Bluemercury also positive.
- Asset sale gains of $66M, pulled forward from Q4 and above expectations, contributed to results.
- Single employee made erroneous accrual entries to hide ~$132-154M of delivery expenses from Q4 2021 to Q3 2024; no cash impact.
- Full Q3 earnings release and conference call delayed; expects to report by December 11, 2024.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/794367/000079436724000199/0000794367-24-000199-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/794367/000079436724000199/n-20241125.htm
  HTML page:      https://secwatch.observer/filing/0000794367-24-000199

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