Macy’s to Claw Back Executive Bonuses Due to Accounting Scandal

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.

Read More: Macy’s Touted a Metric That Ended Up Being Juiced for Years

That meant Macy’s overpaid executives by $609,613 as of the end of 2024, the company said. Some of that has already been clawed back, so the outstanding amount stood at $352,093 as of ...