Macy's Delays Results After Finding Employee Hid Millions in Delivery Expenses
A single employee "intentionally" made wrong accounting entries to hide about $132 million to $154 million of delivery expenses between the fourth quarter of 2021 through third quarter of 2024, Macy's said. It had recorded about $4.36 billion as delivery expenses in this period.
The employee "intentionally made erroneous accounting accrual entries" to hide millions of dollars, Macy's said. The error ...
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Macy’s says employee hid up to $154 million in expensesA Macy's employee allegedly hid up to $154 million by making erroneous accounting accrual entries, according to the company.
Macy's delays its quarterly earnings report after discovering that an accounting unit employee concealed delivery expenses.
Macy's said a former employee concealed up to $154 million in delivery expenses over the course of nearly three years.
Macy’s said an employee hid as much as $154 million in delivery expenses over a three-year period, prompting the retailer to ...
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