Macy's Hides Up to $154 Million in Expenses: What You Need to Know

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Macy's recently announced that they have delayed the release of their Q3 earnings due to an employee hiding up to $154 million in expenses over several years. The department store chain discovered the issue earlier this month after an independent investigation and forensic analysis found that a single employee intentionally made erroneous accounting accrual entries to hide the expenses. Macy's emphasized that the issue did not impact cash management activities or vendor payments, and the employee responsible is no longer with the company. The retailer is currently working to complete the investigation and ensure the matter is handled appropriately.

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WH Smith Considers Selling High Street Business: What It Means

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British retailer WH Smith is exploring options for its high street business, including a possible sale. This comes as no surprise, as the company's high street stores have been underperforming for years. With most profits coming from travel retail, the focus has shifted towards shops in high footfall areas like airports, stations, and hospitals. What does this mean for the future of WH Smith's high street presence?

Nordstrom Family Eyes Private Takeover with Mexican Partner

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Nordstrom Family Eyes Private Takeover with Mexican Partner
The Nordstrom family, backed by a Mexican retail group, has offered to take the department store chain private for $3.76 billion.
The proposed buyout values Nordstrom shares at $23 each, a premium of nearly 35% over recent prices.
The family's late father, Bruce Nordstrom, was a significant influence behind the proposed transaction.
Nordstrom's special committee will evaluate the offer, which comes as the retailer regains momentum after a period of poor performance.
The business remains one of two halves, with the department store division facing structural challenges and the off-price Rack division performing strongly.

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