Macy’s said a rogue employee intentionally concealed as much as $154 million in expenses over the past few years, forcing the department-store giant to delay its quarterly earnings release.

Macy's: 'The errors identified did not impact net sales' The former employee's alleged accounting errors affected the first half of fiscal 2024 by $9 million, but this was adjusted in total during ...

A former Macy's employee allegedly hid up to $154 million in delivery expenses for nearly three years, the retailer announced on Monday. Macy's said that it found an issue with delivery expenses ...

Macy’s said Wednesday that it has concluded its investigation into an employee who intentionally hid more than $150 million in expenses, and it has tightened its controls to avoid a repeat of ...

Macy’s on Monday said an employee responsible for managing accounting for small package deliveries concealed up to $154 million in expenses over the course of nearly three years.. The person who ...

Macy’s finally released its third-quarter earnings on Wednesday after having to delay it due to a massive accounting scandal caused by one employee. The employee, who no longer works for Macy ...

Macy’s said an investigation into accounting problems found that a rogue employee hid more than $151 million in expenses to cover up a bookkeeping mistake and wasn't motivated by personal or ...

Macy’s did not say why the employee hid the expenses. Although the questionable expenses were a small fraction of the $4.36 billion in delivery expenses Macy’s recognized between the fourth ...

Macy’s Says Employee Allegedly Hid Up to $154 Million in Expenses Since 2021. The accounting irregularities prompted the company to delay reporting its full third-quarter results for 2024. By.

Macy's shares fell 51 cents, or 3%, to $15.79 in morning trade. Macy's in February said it planned to close 150 stores and lay off more than 2,000 workers amid a pullback in consumer spending.

Macy’s M 0.32 % increase; green up pointing triangle delayed its quarterly results after the company discovered that an employee had hidden up to $154 million in corporate delivery expenses over ...