Macy's Stock Tumbles on Lower Sales, Resolved Accounting Probe

Key TakeawaysMacy's shares fell Wednesday morning after the retailer posted its delayed earnings report, pushed back last month after an accounting issue was discovered.Sales fell short of what analysts had expected, with sales declining at Macy's stores and rising at its higher-end brands Bloomingdale's and Bluemercury.The company's probe into an accounting issue has ended, and found that a single employee acted alone in covering up some $151 million in expenses since 2021. Macy's (M) shares fell Wednesday ...