Before I provide my insight, I do think that Macy’s handled the situation fantastically after the fact. They couldn’t change the past and they accepted that, they decided to move on and focus on the future like and big company should do. On the other hand, this should never have been possible at such an…

Everyone with a platform, a voice, and an opinion has commented on the dilemma that Macy’s faced. Whether through their own platform or by simply commenting on a post or news publication, many have something to say. LogicManager, a risk management software company claims that the issue was systemic and resulted from complacency and larger…

Immediately following the detection of their numerous accounting errors, Macy’s fired the accused employee. Macy’s chairman and CEO Tony Spring addressed the situation claiming, “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 corporate governance”. It was…

Macy’s was founded on October 28, 1858 by Rowland Hussey Macy, in NYC. Eventually Macy’s grew and moved to Herald Square, becoming a landmark and eventually becoming a juggernaut amongst retail stores. Eventually, Federated Department Stores Inc. acquired the Macy’s chain. In 2007, Macy’s became the face of Federated Department Stores Inc. and all of…

In late 2024, Macy’s announced that a single employee had made a number of intentional accounting errors. These errors caused Macy’s to delay their quarterly earnings, making a statement that the anonymous employee intentionally hid up to $154 million in expenses over the course of three years. Macy’s reported that said employee created a number…