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 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 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 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.
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 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.
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Macy's to close more stores this year than initially thought CEO says following worrying sales decline
Macy's now expects to close about 65 locations this year, up from its previous forecast of 50 announced at the start of the ...
Macy's accelerates store closures this year
Macy's said its accelerating the number of stores it plans to close this year as it works to turn around the struggling ...
Investigation Reveals Loan Wolf Ex-Employee Costs Macy’s $151 Million
Department store chain Macy’s has been forced to slash its annual profit outlook after discovering that an employee concealed more than $150 million in delivery expenses.
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 ...
Macy's offers a mixed outlook after reporting third quarter profit and sales declines
Macy’s is tightening 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 ...
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EXEC: Macy’s Completes Investigation into Accounting Issues; Lowers Q3 EPS Guidance
Macy’s, Inc. is reporting that its reported financial results for the third quarter of 2024 are consistent with its ...
Macy’s third-quarter profit and sales slide and so does its shares
Macy’s profit and sales slumped in the third quarter with many customers of the department store chain continuing to divert ...
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Macy's Is Staffing Up in Its Top Shoe Departments - And Customers Are Responding
Macy's is adding staff to its women's shoes and handbags departments in an effort to improve sales. On the company's third ...