How did a Macy’s worker conceal up to $154 million in fake expenses? Experts weigh in
Macy’s is in crisis mode after disclosing that an employee cooked the books for years, using unethical accounting practices to hide well over $100 million in phony expenses. On Monday, the retailer announced it would delay the full release of its third-quarter earnings,
Macy’s delays Q3 2024 earnings after employee concealed $154m delivery expenses
The company said that a single employee "intentionally" made incorrect accounting entries from the fourth quarter of 2021 (Q4 2021) through Q3 2024.
Macy's says employee 'intentionally' hid up to $154M in expenses
Macy's says it will push back its third-quarter earnings report after discovering an employee "intentionally" hid as much as $154 million in shipping expenses.
Macy's employee hid more than $130m in delivery expenses
US department store Macy's has said a rogue staffer concealed more than $130m (£103m) in company costs over roughly three years, causing it to delay the release of its latest accounts. Macy's, also the owner of Bloomingdales and the make-up chain Bluemercury, said it was postponing its quarterly sales update as it investigates the incident.
Macy's says an employee hid up to $154 million in expenses
Macy's delays its quarterly earnings report after discovering that an accounting unit employee concealed delivery expenses.
Macy’s says employee hid up to $154 million in expenses, delaying Q3 earnings
Macy’s says it’s delaying the release of its fiscal third-quarter earnings results after it discovered an up to $154 million accounting-related issue
Macy's Delays Earnings After Finding Millions of Hidden Expenses
Macy's said it would delay the release of its third-quarter earnings after an investigation revealed an employee hid over $100 million of expenses. An employee responsible for small package delivery expense accounting intentionally made erroneous accounting accrual entries to hide about $132 million to $154 million of cumulative delivery expenses,
Macy's Delays Earnings After Finding Employee Hid Millions in Expenses; Stock Falls
Macy’s delayed its quarterly earnings after discovering an accounting employee had hidden up to $154 million in expenses over several years. Shares fell more than 4% in morning trading. Read more:
Macy’s Worker Hid Millions in Expenses, Prompting Earnings Delay
Macy’s Inc. is delaying its third-quarter earnings release after an investigation revealed an employee hid more than $100 million of expenses over several years.
Macy's finds employee hid $154 million in expenses, report delayed
Macy's announced Monday that it would delay its full third-quarter earnings report because of an employee hiding up to $154 million in expenses, sending its stock plummeting in early trading.
A Macy’s employee made accounting errors ‘intentionally,’ hiding up to $154 million in expenses. Now the company’s earnings report is delayed
The Macy’s employee, who is no longer with the company, hid delivery expenses during the course of almost three years.
Macy's says an employee hid as much as $154 million in expenses
The employee "intentionally made erroneous accounting accrual entries" to hide millions of dollars, Macy's said. The error ...
Macy's: Employee hid upwards of $154M in delivery expenses
Macy's announced an employee has "hid" up to $154 million, prompting the U.S. department store chain to delay the release of ...
Macy's $132 million mystery has auditing experts scratching their heads
While Macy's says a single employee was responsible for the error, accounting and auditing experts told BI it should have ...
Detroit Free Press3h
Macy's Thanksgiving Day Parade: How to watch in AZ and who's performing
It’s been 100 years since Macy’s Herald Square department store in New York City held its first Thanksgiving Day Parade, ...
FOX 5 New York on MSN4h
Macy's Thanksgiving Parade preps underway amid weather concerns
The countdown to Thanksgiving is on, and so is the excitement for the Macy’s Thanksgiving Day Parade! Rehearsals are underway ...
The New York Times6h
How to Watch the Macy’s Thanksgiving Day Parade
For the 98th time, Macy’s brings New Yorkers its annual parade. This year, there will be 22 floats, 17 character balloons ...
5 Things to Know About Macy’s $100 Million Accounting Issue
A Macy’s employee intentionally hid up to $154 million in delivery expenses over the past three years. Investors have a lot ...
What Small Business Owners Should Learn from Macy’s Missing $150 Million
The department store chain had to delay its third quarter financial statements after uncovering 'erroneous accounting accrual ...