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Employee hid upwards of $154M in delivery expenses

ABC News on MSN · 14h

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 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.

UPI News on MSN · 1d

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.

22hon MSN

How did a Macy’s worker conceal up to $154 million in fake expenses? Experts weigh in

Macy’s is in crisis mode after disclosing that an employee cooked the books for years, using unethical accounting practices ...

1don 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.

14h

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 ...

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