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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 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’s ...
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 third quarter earnings report also further addressed any potential impact on its financial performance after an employee allegedly hid $151 million in delivery expenses over a nearly three ...
From 2015-2016, Macy's netted about $653 million from selling buildings (such as a key San Francisco location) or space in those buildings, according to Yahoo Finance calculations.
Macy's has been struggling with flagging sales as consumers increasingly turn from physical retail to e-commerce. In Q2, its sales dropped 3.8% to $4.9 billion while same-store sales declined 4% ...
Macy’s is closing more than five dozen store locations across the United States as part of the company's ongoing reorganization strategy.. The retailer confirmed Jan. 9 that it was shuttering 66 ...