Consumer
Macy’s to Claw Back Executive Bonuses Due to Accounting Scandal
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Macy’s Inc. is clawing back more than $600,000 in cash bonuses from executives after an accounting scandal led to inflated pay.
The department-store operator tied executives’ cash bonuses to an earnings metric that turned out to be overstated by around $81 million in 2023, Macy’s said in a securities filing on Tuesday evening.