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.
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 Delays Q3 Earnings After Employee Hid up to $154M in Expenses
An internal investigation revealed that a single employee intentionally concealed these expenses over nearly three years.
Macy’s says employee hid up to $154 million in expenses, delaying Q3 earnings
Macy’s reported stronger-than-expected sales for the third quarter and said it’s delaying the release of its full quarterly results after it discovered an employee intentionally hid up to $154 million of expenses over several years.
Macy's says employee 'intentionally' hid up to $154M in expenses
Macy's says it will push back its third-quarter earnings report after discovering an employee "intentionally" hid as much as $154 million in shipping expenses.
Macy's Delays Earnings After Finding Millions of Hidden Expenses
Macy's said it would delay the release of its third-quarter earnings after an investigation revealed an employee hid over $100 million of expenses. An employee responsible for small package delivery expense accounting intentionally made erroneous accounting accrual entries to hide about $132 million to $154 million of cumulative delivery expenses,
Macy's employee hid more than $130m in delivery expenses
US department store Macy's has said a rogue staffer concealed more than $130m (£103m) in company costs over roughly three years, causing it to delay the release of its latest accounts. Macy's, also the owner of Bloomingdales and the make-up chain Bluemercury, said it was postponing its quarterly sales update as it investigates the incident.
Macy's delays earnings release as it says employee hid up to $154 million in delivery expenses
Macy's posted preliminary third-quarter results but delayed its full earnings report as it investigates up to $154 million in erroneously reported expenses. The company said it discovered the issue when it was preparing its earnings,
Macy's Q3 results delayed after employee hides millions in expenses
Macy's M.N on Monday delayed its third-quarter results after finding that an employee hid as much as $154 million in expenses over years, instead issuing preliminary sales figures that fell short of Wall Street expectations.
Macy’s Worker Hid Millions in Expenses, Prompting Earnings Delay
Macy’s Inc. is delaying its third-quarter earnings release after an investigation revealed an employee hid more than $100 million of expenses over several years.
Macy’s forced to delay quarterly earnings due to employee hiding up to $154 million in expenses
CNN’s Vanessa Yurkevich reports on Macy’s announcing that a single employee was responsible for so many accounting irregularities that the company was forced to delay its quarterly earnings report.
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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.
5 Things to Know About Macy’s $100 Million Accounting Issue
A Macy’s employee intentionally hid up to $154 million in delivery expenses over the past three years. Investors have a lot ...
What Small Business Owners Should Learn from Macy’s Missing $150 Million
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