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 its third-quarter earnings report.
Macy's Delays Q3 Earnings After Employee Hid up to $154M in Expenses
An internal investigation revealed that a single employee intentionally concealed these expenses over nearly 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 forced the company to delay reporting its third quarter results.
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 delays earnings release as it says employee hid up to $154 million in delivery expenses
Macy's posted preliminary third-quarter results but delayed its full earnings report as it investigates up to $154 million in erroneously reported expenses. The company said it discovered the issue when it was preparing its earnings,
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 and instead posted preliminary results in which its sales missed Wall Street expectations.
Macy's Delays Q3 Report on Accounting Issue, Sales Misses in Preliminary Results
Macy's on Monday delayed publication of its third-quarter results after discovering an accounting issue related to delivery expenses and instead reported preliminary results in which its sales missed Wall Street expectations.
Macy’s says employee hid up to $154 million in expenses, delays Q3 earnings
Macy’s reported weaker-than-expected sales for the third quarter and said it’s delaying the release of its full quarterly results after it discovered an employee intentionally hid up to $154 million of expenses over several years.
Macy’s finds ‘erroneous’ accounting entries, leading to delay of earnings report
Macy’s identified a single employee who made “erroneous” accounting entries to hide up to $154 million in delivery expenses during a three-year period.
Macy's Q3 Net Sales, Comps Down; To Delay Earnings Report; Stock Down In Pre-market
Department store chain Macy's Inc. (M) on Monday reported that its third-quarter net sales decreased 2.4 percent from last year to
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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.
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