/verify-dolt-db-financials M
Skill_Version: 1.0 Student: calvinw Model: sonnet-4-6 Date: 2026-06-17
Session
User: /verify-dolt-db-financials M
Assistant:
Step 1 — Company Metadata
Queried company_info for ticker M:
company: Macy's | CIK: 794367 | display_name: Macy's | ticker_symbol: MNo YEAR provided → multi-year mode. Queried Dolt for all existing years and Yahoo Finance for available periods.
Years found: - Dolt: 2018, 2019, 2020, 2021, 2022, 2023, 2024, 2025 - Yahoo: 2021–2025 (5-year coverage) - SEC: fetched 2021, 2022, 2023, 2024 (primary 10-Ks)
Analyzing all available years for Macy’s (M): 2018, 2019, 2020, 2021, 2022, 2023, 2024, 2025
Step 2 — Sources Fetched
| Source | Years |
|---|---|
| SEC 10-K | FY2021, FY2022, FY2023, FY2024 (primary filings) + FY2023 and FY2022 as restated comparatives in FY2024 10-K |
| Yahoo Finance | FY2021–FY2025 (2022-01-31 through 2026-01-31 columns) |
| Dolt DB | All 8 years (2018–2025) |
Background: Macy’s Revenue Structure
Macy’s income statement has two revenue components: - Contract Revenue (us-gaap_RevenueFromContractWithCustomerExcludingAssessedTax) — merchandise sales - Other Revenue (m_NetEarningsFromCreditOperations in older filings; m_OtherRevenueNet in FY2023+) — Credit Card + Macy’s Media Network - Total Revenue (us-gaap_Revenues) — always use this
Macy’s Media Network (MMN) reclassification (FY2023 10-K): Starting with the FY2023 10-K, MMN revenue was moved from an SGA offset to a separate “Other Revenue” line. This increased both Net Revenue and SGA by the MMN amount, with Operating Income unchanged. Comparative years (FY2021, FY2022) were restated accordingly.
Steps 4–6 — Anomaly Detection, Comparison, and Recommendations
FY2018 — reportDate 2019-02-02
SEC not re-fetched; Yahoo does not cover this year. Accepting stored values as original primary convention.
- Gross Margin: 9,756 / 24,971 = 39.1% ✓
- Balance sheet identity: 19,194 = 19,194 ✓
→ No change.
FY2019 — reportDate 2020-02-01
Same as FY2018 — SEC not re-fetched.
- Gross Margin: 9,389 / 24,560 = 38.2% ✓
- Balance sheet identity: 21,172 = 21,172 ✓
→ No change. (Note: FY2021 10-K comparative shows FY2019 CC revenue 771K as a level-1 revenue line — original convention not confirmed. Recommend separate verification.)
FY2020 — reportDate 2021-01-30
Verified from FY2021 10-K comparative (2021-01-30 column): Contract 17,346K + CC 751K = 18,097K ✓
- [WARNING] Gross Margin: 5,811 / 18,097 = 32.1% — below 35–45% benchmark. Expected: COVID-19 year. Not an error.
- Balance sheet identity: 17,706 = 17,706 ✓
→ No change.
FY2021 — reportDate 2022-01-29 [ERROR + WARNING]
FY2021 primary 10-K (2022-01-29 column): - Contract Revenue: 24,460K - Credit Card Revenues (m_NetEarningsFromCreditOperations): 832K (level=1, above COGS) - COGS: 14,956K - SGA: 8,047K - Operating Income: 2,350K - Net Profit: 1,430K
FY2023 10-K restated (most recent, 2022-01-29 column): - Other Revenue: 939K (CC 832K + MMN 107K) - SGA: 8,154K (+107K MMN reclassified from SGA offset) - Operating Income: 2,350K (unchanged)
Dolt (current): Net Revenue = 24,460K (contract only — missing CC 832K and MMN 107K)
| Field | SEC Primary | SEC FY2023 Restated | Dolt | Recommended |
|---|---|---|---|---|
| Net Revenue | 25,292 | 25,399 | 24,460 | 25,399 |
| COGS | 14,956 | 14,956 | 14,956 | 14,956 |
| Gross Margin | 10,336 | 10,443 | 9,504 | 10,443 |
| SGA | 8,047 | 8,154 | 8,047 | 8,154 |
| Operating Profit | 2,350 | 2,350 | 2,350 | 2,350 |
| Net Profit | 1,430 | 1,430 | 1,430 | 1,430 |
| Balance sheet | — | — | ✓ all match | no change |
Flags: - [ERROR] Net Revenue missing CC 832K — clearly part of total revenue in primary filing; FY2020 correctly includes CC. - [WARNING] MMN reclassification +107K applied per FY2023 10-K (most recent filing).
→ Update: Net Revenue 24,460→25,399 | Gross Margin 9,504→10,443 | SGA 8,047→8,154
FY2022 — reportDate 2023-01-28 [WARNING]
FY2022 primary 10-K: Revenue 25,305K (contract 24,442 + CC 863), SGA 8,317K (MMN 144K netted against SGA).
FY2023 10-K restated: Revenue 25,449K (+144K MMN to revenue), SGA 8,461K (+144K), Op Inc unchanged.
FY2024 10-K (most recent): Additional COGS restatement +41K (15,306→15,347), Op Inc −41K (1,730→1,689), Net Prof −31K (1,177→1,146).
| Field | SEC Primary | SEC FY2024 Restated | Dolt | Recommended |
|---|---|---|---|---|
| Net Revenue | 25,305 | 25,449 | 25,305 | 25,449 |
| COGS | 15,306 | 15,347 | 15,306 | 15,347 |
| Gross Margin | 9,999 | 10,102 | 9,999 | 10,102 |
| SGA | 8,317 | 8,461 | 8,317 | 8,461 |
| Operating Profit | 1,730 | 1,689 | 1,730 | 1,689 |
| Net Profit | 1,177 | 1,146 | 1,177 | 1,146 |
| Balance sheet | — | — | ✓ all match | no change |
Gross Margin (corrected): 10,102 / 25,449 = 39.7% ✓
→ Update: Revenue 25,305→25,449 | COGS 15,306→15,347 | GM 9,999→10,102 | SGA 8,317→8,461 | Op Inc 1,730→1,689 | Net Prof 1,177→1,146
FY2023 — reportDate 2024-02-03 [WARNING]
FY2023 primary 10-K: Revenue 23,866K (us-gaap_Revenues), COGS 14,143K, Op Inc 382K, Net Prof 105K, Curr Liab 4,430K, SE 4,137K.
FY2024 10-K comparative (most recent): COGS restated to 14,224K (+81K), Op Inc 301K (−81K), Net Prof 45K (−60K after tax), Curr Liab 4,532K (+102K), SE 4,035K (−102K). Total Assets unchanged at 16,246K.
| Field | SEC Primary | SEC FY2024 Restated | Yahoo | Dolt | Recommended |
|---|---|---|---|---|---|
| Net Revenue | 23,866 | 23,866 | 23,866 | 23,866 | 23,866 |
| COGS | 14,143 | 14,224 | 14,224 | 14,143 | 14,224 |
| Gross Margin | 9,723 | 9,642 | 9,642 | 9,723 | 9,642 |
| SGA | 8,375 | 8,375 | 8,375 | 8,375 | 8,375 |
| Operating Profit | 382 | 301 | 301 | 382 | 301 |
| Net Profit | 105 | 45 | 45 | 105 | 45 |
| Current Assets | 6,089 | 6,089 | 6,089 | 6,089 | 6,089 |
| Total Assets | 16,246 | 16,246 | 16,246 | 16,246 | 16,246 |
| Current Liabilities | 4,430 | 4,532 | — | 4,430 | 4,532 |
| Liabilities | 12,109 | 12,211 | — | 12,109 | 12,211 |
| TSE | 4,137 | 4,035 | 4,035 | 4,137 | 4,035 |
| Total L+SE | 16,246 | 16,246 | 16,246 | 16,246 | 16,246 |
Gross Margin (corrected): 9,642 / 23,866 = 40.4% ✓
→ Update: COGS 14,143→14,224 | GM 9,723→9,642 | Op Inc 382→301 | Net Prof 105→45 | Curr Liab 4,430→4,532 | Liabilities 12,109→12,211 | SE 4,137→4,035
FY2024 — reportDate 2025-02-01 [ERROR]
FY2024 primary 10-K: - us-gaap_RevenueFromContractWithCustomerExcludingAssessedTax (Contract): 22,293K - m_OtherRevenueNet (Other Revenue): 713K (CC 537K + MMN 176K) - us-gaap_Revenues (Total): 23,006K
Dolt stores 22,293K (contract only). Missing Other Revenue 713K.
| Field | SEC | Yahoo | Dolt | Recommended |
|---|---|---|---|---|
| Net Revenue | 23,006 | 23,006 | 22,293 | 23,006 |
| COGS | 13,740 | 13,740 | 13,740 | 13,740 |
| Gross Margin | 9,266 | 9,266 | 8,553 | 9,266 |
| SGA | 8,330 | 8,330 | 8,330 | 8,330 |
| Operating Profit | 909 | 909 | 909 | 909 |
| Net Profit | 582 | 582 | 582 | 582 |
| Balance sheet | — | — | ✓ all match | no change |
Gross Margin (corrected): 9,266 / 23,006 = 40.3% ✓
Flags: - [ERROR] Net Revenue uses contract only (22,293K); correct total = 23,006K. - [ERROR] Gross Margin follows wrong revenue: 8,553→9,266.
→ Update: Net Revenue 22,293→23,006 | Gross Margin 8,553→9,266
FY2025 — reportDate 2026-01-31
Yahoo Finance (2026-01-31 column): Total Revenue 22,621K, COGS 13,497K, GM 9,124K, SGA 8,240K, Op Inc 1,030K, Net Prof 642K. All balance sheet fields match Dolt exactly.
- Gross Margin: 9,124 / 22,621 = 40.3% ✓
- Balance sheet identity: 16,238 = 16,238 ✓
→ No change. (SEC FY2025 10-K not independently fetched — Yahoo match is high confidence.)
Step 7 — Readiness
Unresolved flags: 1. FY2018/FY2019 — Credit Card revenue convention not verified against original 10-Ks. May be understated if CC was above COGS in those original filings. Recommend separate verification. 2. FY2020 — Gross margin 32.1% below benchmark but expected (COVID). No correction needed. 3. FY2025 — SEC not independently verified. Yahoo match is high confidence.
Analysis complete. Run /create-verified-dolt-db-financials-sql M to write all changed years to the database.
Step 8 — Report
Report saved to reports/M-all-years.md.