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Macy’s employee hid up to $154M in expenses
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 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.
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.
1d
on 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.
15h
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 ...
1d
on MSN
Macy’s says employee hid up to $154 million in expenses since 2021
Macy’s says employee hid up to $154 million in expenses since 2021 Macy’s on Monday said an employee responsible for managing ...
22h
on MSN
How did a Macy’s worker conceal up to $154 million in fake expenses? Experts weigh in
Macy’s is in crisis mode after disclosing that an employee cooked the books for years, using unethical accounting practices ...
Yahoo
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Macy’s Worker Accused of Hiding Up to $154 Million in Expenses
A former employee of
Macy’s
has been accused by the retail company of hiding at least $132 million, but potentially as much ...
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