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

ABC News on MSN · 10h

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.

UPI News on MSN · 21h

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 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.

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.

10h

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 ...

17hon 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 ...

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