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Macy’s to Pay Civil Penalty Fee
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Macy’s to Pay Civil Penalty Fee
Retail company, Macy’s (NYSE:M) agreed to pay a $750,000 civil penalty to the federal government after allegations by the U.S. Consumer Product Safety Commission after they unsuccessfully stated that it had sold children's sweatshirts, sweaters and jackets with drawstrings at the neck.The sales of the clothing items created a hazard of strangulation, which took place between 2006 and 2010 and were made at various Macy's-owned stores, Bloomingdale's and Robinsons-May.The CPSC has charged that the company intentionally sold some of the garments following a recall.Macy's has a potential upside of 18.1% based on a current price of $29.58 and an average consensus analyst price target of $34.92.
Video Length: 0
Date Found: July 12, 2011
Date Produced: July 11, 2011
View Count: 0
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