Macy's stock sinks as profit outlook cut due to delivery-expense misstatements
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Macy's has reduced its full-year earnings outlook due to adjustments for misstated delivery expenses, leading to a decline in its stock price.
December 11, 2024 | 1:00 pm
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Macy's has revised its full-year earnings outlook downward due to adjustments for misstated delivery expenses, causing a decline in its stock price.
The reduction in Macy's earnings outlook is directly related to the misstatement of delivery expenses, which is a significant factor for investors. This has led to a negative impact on the stock price as the market reacts to the revised financial expectations.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100