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Department store Macy's (M) released its third quarter earnings Wednesday morning, initially delayed after discovering an employee hid $154 million in shipping expenses. The retail giant posted adjusted earnings of $0.04 per share, beating Wall Street estimates for $0.03, while revenue came out at $4.74 billion, just $10 million short of forecasts.
Yahoo Finance senior retail reporter Brooke DiPalma breaks down the retailer's quarterly performance, noting the activist investor pressure it is facing from Barington Capital and Thor Equities.Catch Yahoo Finance's interview with Macy's chair and CEO Tony Spring from the 2024 Yahoo Finance Invest conference.
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This post was written by Luke Carberry Mogan.