Macy's executives will have to pay back over $600,000 after an accounting scandal inflated their bonuses

Macy's executives will have to pay back hundreds of thousands of dollars in bonus payments as a result of an accounting scandal, the department store firm said on Tuesday. The retailer overstated one of its earnings measures by $81 million in 2023, the company said in a filing with the SEC. That metric influenced how much Macy's executives were paid in bonuses the following year.As a result, some execs will have to pay back a cumulative$609,613 in cash bonuses that the company awarded them through the end ...