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Macy’s employee hid up to $154M in expenses

U.S. News & World Report · 1h

Macy's Delays Results After Finding Employee Hid Millions in Delivery Expenses

A single employee "intentionally" made wrong accounting entries to hide about $132 million to $154 million of delivery expenses between the fourth quarter of 2021 through third quarter of 2024, Macy's said. It had recorded about $4.36 billion as delivery expenses in this period.

ABC News on MSN · 12h

How could Macy's overlook millions in hidden expenses for years?

Over some three years over which the inaccurate financial reporting took place, Macy's incurred $4.36 billion in delivery expenses, the company said. At most, the hidden expenses made up 3.5% of the overall costs faced by the department. "The dollar amount is small relative to Macy's operations," Johanns said.

UPI News on MSN · 23h

Macy's: Employee hid upwards of $154M in delivery expenses

Macy's announced an employee has "hid" up to $154 million, prompting the U.S. department store chain to delay the release of its third-quarter earnings report.

20hon MSN

How did a Macy’s worker conceal up to $154 million in fake expenses? Experts weigh in

Macy’s is in crisis mode after disclosing that an employee cooked the books for years, using unethical accounting practices ...

1don MSN

Macy's says an employee hid up to $154 million in expenses

Macy's delays its quarterly earnings report after discovering that an accounting unit employee concealed delivery expenses.

12h

Macy’s employee hid up to $154 million in expenses

The retail giant delayed the results of its third quarter earnings after discovering that an employee hid millions of dollars ...

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