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Macy’s employee hid up to $154M in expenses

Hosted on MSN · 2h

How could Macy's overlook millions in hidden expenses for years?

Days before Macy's is set to take center stage for its annual Thanksgiving Day Parade, the department store chain this week revealed a years-long accounting debacle unlikely to inspire gratitude among shoppers and shareholders.

Macy’s employee hid up to $154 million in expenses

The retail giant delayed the results of its third quarter earnings after discovering that an employee hid millions of dollars in delivery expenses over the last three years.

The New York Times · 1d

Macy’s Discovers Employee Hid Millions in Delivery Expenses

The department store chain said it had found the erroneous accounting entries while preparing its results for the third quarter.

1d

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 ...

1don MSN

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.

1don MSN

Macy’s says employee hid up to $154 million in expenses

By MICHELLE CHAPMAN Macy’s says it’s delaying the release of its fiscal third-quarter earnings results after it discovered an ...

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