Macy’s has delayed the release of quarterly results after discovering an employee hid $132mn of delivery expenses over three years. The retailer, led by CEO Tony Spring, plans to close underperforming stores while investing in others. Shares fell 2.2% as Macy’s investigates the incident and releases preliminary results showing a 2.4% decline in net sales.
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Got $1,000? Here Are 2 Fantastic Stocks to Buy Right Now.
For those looking to invest in the stock market, Nvidia (NVDA) and Taiwan Semiconductor Manufacturing (TSM) are recommended stocks, with a suggested holding period of three to five years to realize potential gains. Both companies are capitalizing on the significant growth in artificial intelligence, with Nvidia's GPUs being crucial for AI models and TSMC producing chips for various competitors. Management forecasts indicate Nvidia's revenue could increase significantly over the next five years, while TSMC anticipates...
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