Macy's says employee who allegedly hid $150 million in expenses had no major 'impact'
Macy's is claiming a lack of serious impact after an independent investigation determined that an employee had hid $151 million in delivery expenses.
Macy’s provides more details about that employee who hid more than $150 million worth of expenses
Macy’s said Wednesday that it has concluded its investigation into an employee who intentionally hid more than $150 million in expenses, and it has tightened its controls to avoid a repeat of the embarrassing problem.
Here’s how a Macy’s employee hid more than $150M worth of expenses
Macy’s said it has concluded its investigation into an employee who intentionally hid more than $150 million in expenses.
Macy's says an employee hid as much as $154 million in expenses
The employee "intentionally made erroneous accounting accrual entries" to hide millions of dollars, Macy's said. The error forced the company to delay reporting its third-quarter results.
Macy’s found a single employee hid up to $154 million worth of expenses
Macy’s announced Monday that a single employee was responsible for so many accounting irregularities that the company was forced to delay its quarterly earnings report, which the retailer had planned to release Tuesday.
Macy's probe reveals employee hid $151 million in delivery expenses
Retail giant Macy's said on Wednesday said it concluded an independent investigation into an employee who purposely hid $151 million in delivery expenses over nearly three years, forcing it to revise
Macy's ends delivery expense investigation, saying employee hid $151 million
Macy's on Wednesday said it has concluded an investigation into an employee who intentionally hid about $151 million of delivery expenses. In a statement, CEO Tony Spring said the retailer is "strengthening our existing controls and implementing additional changes designed to prevent this from happening again and demonstrate our strong commitment to corporate governance.
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 ...
Macy’s says employee hid up to $154 million in expenses
The retailer said Monday that it identified an issue related to delivery expenses in one of its accrual accounts earlier ...
Macy's gives update on employee who hid $151M
Macy's CEO Tony Spring provided a fresh update on the rogue employee who hid $151 million in delivery expenses since 2021 and ...