Macy's Inc

M: XNYS (USA)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
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Macy’s: Unfortunate Delay, but Preliminary Sales Match Expectations; Shares Undervalued

David Swartz

Nov 25, 2024

No-moat Macy’s postponed its third-quarter earnings report to Dec. 11 from Nov. 26 after it discovered that its delivery expenses over the past three years had been underreported by a total of $132 million-$152 million. The firm claims that a former employee intentionally misstated these costs. Although disappointing, the problem appears to be contained and the cost discrepancies are immaterial considering that Macy’s annual operating expenses exceed $8 billion.

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Macy's Inc

Macy’s: Unfortunate Delay, but Preliminary Sales Match Expectations; Shares Undervalued

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