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Earnings Delay

All articles tagged with #earnings delay

business7 months ago

Victoria's Secret delays earnings report following security breach

Victoria's Secret has postponed its quarterly earnings report due to a security breach that disrupted its operations and website, with most services restored but ongoing system access issues. The breach, possibly a ransomware attack, led to temporary shutdowns of its website and in-store services, and the company is still working to fully restore its systems. Despite the disruption, preliminary sales figures exceeded expectations, but the full financial impact remains under assessment.

business1 year ago

Macy's Delays Earnings After Employee Conceals $154M in Expenses

Macy's has delayed its third-quarter earnings release after discovering an employee hid up to $154 million in expenses over several years. The issue, related to delivery expenses, was uncovered through an independent investigation, and the responsible employee is no longer with the company. Despite the accounting scandal, Macy's reported a 2.4% decline in net sales to $4.74 billion, slightly above analyst expectations. The company plans to release full financial results by December 11, while focusing on a successful holiday season.