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Macy’s employee hid up to $154M in expenses
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.
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 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 in delivery expenses over the last three years.
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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 ...
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on 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.
19h
on MSN
Macy’s says employee hid up to $154 million in expenses
Macy’s says it’s delaying the release of its fiscal third-quarter earnings results after it discovered an up to $154 million ...
1d
on MSN
Macy’s finds ‘erroneous’ accounting entries, leading to delay of earnings report
Macy’s identified a single employee who made “erroneous” accounting entries to hide up to $154 million in delivery expenses ...
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