Macy's employee who hid $151 million in delivery expenses was trying to mask initial mistake, sources say
Macy's on Wednesday said it has wrapped up an investigation into an employee who intentionally hid about $151 million of delivery expenses on its accounting books for nearly three years and has revised those years of its historical financial statements.
Macy’s rogue employee hid $151M in expenses to cover up mistake, wasn’t motivated by personal gain
According to the Wall Street Journal, the employee told investigators about having mistakenly understated the amount of small parcel delivery expenses in late 2021, citing a source briefed on the
Macy's delays Q3 earnings report, says employee hid up to $154 million in expenses
Macy's on Monday delayed its Q3 earnings release as it conducts an internal investigation into an employee hiding hundred of millions of dollars of expenses.
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 tightens financial controls after employee covered up what became a $151 million mistake
Macy’s said Wednesday that it has tightened internal financial accounting measures after completing a probe of a rogue employee who hid $151 million in delivery expenses over a span of nearly three years.
Macy’s rogue employee hid $151M in expenses to cover up mistake, wasn’t motivated by personal gain: report
Macy’s said an investigation into accounting problems found that a rogue employee hid more than $151 million in expenses to cover up a bookkeeping mistake and wasn’t motivated by personal or financial gain,
Macy’s employee responsible for a $151 million accounting scandal made one mistake that snowballed into an intentional coverup
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 made one mistake that led to years of coverup.
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 disclosed the individual is no longer with the company.
Macy’s Probe Found Employee Acted Alone in $151 Million Accounting Scandal
Macy’s has completed its investigation into accounting problems and found that a single employee’s mistake and coverup created $151 million in false bookkeeping entries.
Macy's confirms rogue employee hid $151 million in expenses over three years
A rogue employee was responsible for hiding $151 million in delivery expenses over the course of nearly three years, Macy's said Wednesday.
Macy’s Details Multimillion-Dollar Accounting Error in Downbeat Report
Macy’s, the largest department store chain in the United States, is in the midst of its latest turnaround plan, overseen by ...
Jim Cramer Says Macy’s Inc. (M) CEO Tony Spring ‘Knows That His Chain Makes An Incredible Amount Of Money In The Next 30 Days’
Stocks in Focus. In this article, we are going to take a look at where Macy’s, Inc. (NYSE:M) stands against the other stocks ...
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A Macy’s employee ‘hid’ up to $154M in expenses over three years — but why?
“At Macy’s, we promote a culture of ethical conduct,” chairman and chief executive Tony Spring said in a statement. “While we work diligently to complete the investigation as soon as ...
Macy's: What Next, After An Incomplete Q3 Report?
Macy's latest challenge linked to internal accounting irregularities is not overbearing, but does not reflect well. Read my ...
Macy's Cuts Adjusted Profit Forecast, Shares Fall 7%
(Reuters) - Macy's on Wednesday cut its annual profit forecast, as it struggles with increased promotions during the holiday ...
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Macy's delays Q3 earnings after employee conceals $154M in expenses
Macy's announced a delay in releasing its full quarterly results after discovering that an employee intentionally hid $132 ...
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How did a Macy’s worker conceal up to $154 million in fake expenses? Experts weigh in
The company promotes a "culture of ethical conduct," CEO Tony Spring said in a statement. Macy’s is working diligently to complete the investigation and ensuring, "this matter is handled ...