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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 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 has delayed Q3 earnings as it investigates over $130 million in hidden expenses. Macy's said a single employee was responsible for "erroneous accounting accrual entries." The employee is no ...
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 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 ...
Macy's still plans to close a total of about 150 underproductive stores, while investing in its 350 current Macy’s locations, through the company's 2026 fiscal year, which ends Jan. 30, 2027 ...
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.
Macy's is closing more stores than it originally announced earlier this year.. According to the company's third quarter earnings report, the department store chain is expected to close 65 ...