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Macy's CEO Tony Spring provided a fresh update on the rogue employee who hid $151 million in delivery expenses since 2021 and disclosed the individual is no longer with the company.
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.
The accounting irregularities prompted the company to delay reporting its full third-quarter results for 2024
(Reuters) -Macy's on Monday delayed its third-quarter results after finding that an employee hid as much as $154 million in expenses over years, instead issuing preliminary sales figures that fell ...
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 Wednesday posted its official third quarter results after it concluded an internal investigation into an employee hiding up to $151 million of expenses that led to a delay in reporting.
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.
A string of federal lawsuits out of Manhattan accuse Combs of sexual attacks dating back to 1995. One alleges Combs orally raped a worker for rival brand Ecko at the Macy's flagship store in 2008.