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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 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: 'The errors identified did not impact net sales' The former employee's alleged accounting errors affected the first half of fiscal 2024 by $9 million, but this was adjusted in total during ...
The accounting irregularities prompted the company to delay reporting its full third-quarter results for 2024
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.
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To be sure, Macy’s hired more than 31,500 full and part-time seasonal positions for Macy’s, Bloomingdale’s, and Bluemercury stores, as well as its distribution centers, ahead of the holiday ...
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.