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

CNN on MSN · 4d

Macy’s found a single employee hid up to $154 million worth of expenses

Macy’s announced Monday that a single employee was responsible for so many accounting irregularities that the company was forced to delay its quarterly earnings report, which the retailer had planned to release Tuesday.

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.

ABC News on MSN · 3d

How did a Macy’s employee hide millions in expenses for years?

A former employee intentionally hid expenses totaling as much as $154 million in the company's small package delivery department over a roughly three-year period, Macy's said in a financial disclosure on Monday.

4don 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.

4don MSN

Macy’s says employee hid as much as $154 million in expenses

Macy’s said an employee hid as much as $154 million in delivery expenses over a three-year period, prompting the retailer to ...

3don MSN

Macy’s Touted a Metric That Ended Up Being Juiced for Years by Former Employee

For years, Macy’s Inc. touted its ability to boost profits by cutting delivery costs and trimming other expenses on calls ...

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