macy delivery expenses news

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

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

Over some three years over which the inaccurate financial reporting took place, Macy's incurred $4.36 billion in delivery expenses, the company said. At most, the hidden expenses made up 3.5% of the overall costs faced by the department. "The dollar amount is small relative to Macy's operations," Johanns said.

NPR · 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 forced the company to delay reporting its third-quarter results.

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.

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.

17h

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 ...

2don MSN

Macy's delays Q3 report on accounting issue, expects weaker sales

Macy's on Monday delayed the publication of its third-quarter results due to an accounting issue tied to delivery expenses ...

2don MSN

Macy’s stock drops after ‘erroneous’ accounting entries found, leading to delay of quarterly results

Shares of Macy’s Inc. dropped 3.7% in premarket trading Monday, after the department-store chain said it uncovered “erroneous accounting accrual entries,” which will result in the company delaying the ...

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