Macy’s to claw back bonuses following accounting scandal, Bloomberg reports

Macy’s (M) is clawing back over $600,000 in cash bonuses from executives following an accounting scandal that led to inflated pay, Bloomberg’s Nicola White and Jeannette Neumann report, citing a securities filing. The company had linked the cash bonuses to an earnings metric that turned out to be overstated by roughly $81M in 2023, Macy’s said.