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Stock impact report

Macy's taps new CFO months after $151M accounting error disclosure [Yahoo! Finance]

Capri Holdings Limited Ordinary Shares (CPRI) 
Last capri holdings limited ordinary shares earnings: 2/5 06:30 am Check Earnings Report
Company Research Source: Yahoo! Finance
Macy's on Tuesday said Thomas J. Edwards — currently the CFO and COO of fashion luxury group Capri Holdings — will become the New York department store chain's CFO and chief operating officer , effective June 22, according to a release. Edwards will replace Adrian Mitchell, who has been Macy's CFO since joining the company in November 2020. Edwards rose to the expanded role of COO and CFO in 2023. The change in financial leadership comes as the company is in the midst of a multi-year turnaround initiative and a little over four months after the company revealed that an employee made “ erroneous accounting accrual entries ” that were determined to have hidden about $151 million in delivery expenses in a period from the fourth quarter of 2021 through the fiscal quarter ended Nov. 2, 2024. In December, the company said a completed investigation into the matter determined that there was “ no material impact to financial results for any historical annual or interim period” and that th Show less Read more
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