Some Macy's executives have to pay back bonuses as a result of an accounting scandal. Macy's overstated one of its earnings metrics in 2023, leading to the inflated bonuses.
Macy's hired Thomas Edwards Jr. to be its chief financial officer and chief operating officer, the two roles he has held at Capri Holdings for the past eight years.
Macy's named 66 stores in early January that it planned to close this year and, according to reports, a slew of closures went into effect over this past weekend.
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