Macy's Q3 GAAP EPS $0.10, adjusted $0.04; material weakness found after employee hid $151M expenses

Macy's, Inc.

2024-Q3 EPS reported $0.85 revenue$14,999,000,000

Net sales $4.7B (-2.4% YoY); comparable sales down 1.3% on owned+licensed+marketplace basis.
GAAP diluted EPS $0.10 vs $0.15 prior year; adjusted diluted EPS $0.04 vs $0.21 prior year.
Single employee intentionally hid ~$151M delivery expenses from Q4 2021 to Q3 2024; no material impact on prior financials.
Material weakness in internal controls over delivery expenses identified; prior internal control reports no longer reliable.
FY 2024 guidance lowered: net sales $22.3-$22.5B, adjusted EPS $2.25-$2.50 (from $2.55-$2.90).

This headline and bullets were generated automatically by deepseek-v4-flash:cloud@v2 from the public filing. Read the source on SEC.gov before relying on any specific claim. Not investment advice. See methodology for how this pipeline works.