Macy's says internal control not effective after employee made entries to hide $154 mln
Macy's said on Thursday a re-evaluation of its financials showed that the department store chain's internal control, including proper record maintenance, was not effective as of February this year.
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 tightens controls after employee 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 internal control not effective after employee made entries to hide $154 million
Macy's said on Thursday a re-evaluation of its financials showed that the department store chain's internal control, including proper record maintenance, was not effective as of February this year. The retailer had initiated an evaluation in late November after it found that an employee hid as much as $154 million in expenses over the years.
Macy’s identifies material weakness in internal control over financial reporting
In a regulatory filing, Macy’s (M) said that in the course of preparing the company’s financial statements for the interim period ended
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.
Macy's confirms employee hid $151M in expenses to cover mistakes
Macy’s revealed new details about an employee who hid millions of dollars, saying what started as a single mistake led to years of cover-up.
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Macy’s Predicts $275M From Sales of Real Estate Portfolio, Will Close More Stores in 2025
Macy's has announced it expects to see $275 million in sales of its retail properties next year, nearly $125 million more ...
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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 ...
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 ...
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 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 ...
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 ...
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 ...
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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 ...