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Macy's said Wednesday that it has tightened internal financial accounting measures after completing a probe of a rogue employee who hid $151 million in delivery expenses over a span of nearly ...
Macy’s finally released its third-quarter earnings on Wednesday after having to delay it due to a massive accounting scandal caused by one employee. The employee, who no longer works for Macy ...
The Macy’s employee, who is no longer with the company, hid delivery expenses during the course of almost three years. A Macy’s employee made accounting errors ‘intentionally,’ hiding up ...
Macy's said an employee intentionally made accounting errors totaling $132 million to $154 million. Auditing experts told BI the available evidence suggests a failure of internal accounting controls.
Macy's (originally R. H. Macy & Co.) is an American department store chain founded in 1858 by Rowland Hussey Macy.It has been a sister brand to the Bloomingdale's department store chain since being acquired by holding company Federated Department Stores in 1994, which renamed itself Macy's, Inc. in 2007.
Macy's on Monday delayed its third quarter earnings release as it conducts an internal investigation into an employee hiding up to $154 million of expenses.An employee responsible for small ...
Macy’s on Monday said an employee responsible for managing accounting for small package deliveries concealed up to $154 million in expenses over the course of nearly three years.
Macy's shares fell 51 cents, or 3%, to $15.79 in morning trade. Macy's in February said it planned to close 150 stores and lay off more than 2,000 workers amid a pullback in consumer spending.