Macy's says an employee hid as much as $154 million in expenses

1 day ago  · A former Macy's employee allegedly hid up to $154 million in delivery expenses for nearly three years, the retailer announced on Monday. Macy's said that it found an issue with delivery expenses ...


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Macy's Says An Employee Hid As Much As $154 Million In Expenses

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1 day ago  · A former Macy's employee allegedly hid up to $154 million in delivery expenses for nearly three years, the retailer announced on Monday. Macy's said that it found an issue with delivery expenses ...

npr.org

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Macy's Says An Employee Hid Up To $154 Million In Expenses | AP …

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1 day ago  · Macy’s says it’s delaying the release of its fiscal third-quarter earnings results after it discovered an up to $154 million accounting-related issue. ... Macy’s says employee hid up to …

apnews.com

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Macy's Says Employee Hid Up To $154 Million Since 2021 - NBC News

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1 day ago  · Macy’s on Monday said an employee responsible for managing accounting for small package deliveries concealed up to $154 million in expenses over the course of nearly three …

nbcnews.com

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Macy’s Found A Single Employee Hid Up To $154 Million Worth Of

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1 day ago  · Macy’s announced Monday that a single employee was responsible for so many accounting irregularities that the company was forced to delay its quarterly earnings report, …

cnn.com

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Macy’s Says Employee Hid Up To $154 Million In Expenses, Delaying …

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1 day ago  · Macy’s says it’s delaying the release of its fiscal third-quarter earnings results after it discovered an up to $154 million accounting-related issue ... employee intentionally hid up to …

go.com

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Macy's Says An Employee Hid Up To $154 Million In Expenses

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1 day ago  · Macy's shares fell 51 cents, or 3%, to $15.79 in morning trade. Macy's in February said it planned to close 150 stores and lay off more than 2,000 workers amid a pullback in …

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Macy’s Says Accounting Employee Hid Up To $154 Million In …

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1 day ago  · Macy’s M-2.21% decrease; red down pointing triangle delayed its quarterly results after the company discovered that an employee had hidden up to $154 million in corporate …

wsj.com

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Macy’s Says Employee Hid Up To $154 Million In Expenses

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1 day ago  · Macy’s Says Employee Allegedly Hid Up to $154 Million in Expenses Since 2021. The accounting irregularities prompted the company to delay reporting its full third-quarter results …

people.com

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Macy's Delays Q3 Earnings Report, Says Employee Hid Up To $154 …

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1 day ago  · An employee responsible for small package delivery expense accounting intentionally made "erroneous accounting accrual entries" that hid nearly $132 million to $154 million from …

yahoo.com

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Macy’s Says Employee Hid Up To $154 Million In Expenses, Delays …

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1 day ago  · Macy’s reported weaker-than-expected preliminary sales for the fiscal third quarter and said it’s delaying the release of its quarterly earnings results after it discovered an up to …

chicagotribune.com

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Macy’s Says Employee Hid Up To $154 Million In Expenses ... - WTOP

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1 day ago  · Macy’s reported stronger-than-expected sales for the third quarter and said it’s delaying the release of its full quarterly results after it discovered an employee intentionally hid …

wtop.com

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Macy's Says Employee Hid Up To US$154 Million In Costs Over 3 Years

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1 day ago  · NEW YORK - Macy’s disclosed on Nov 25 that an employee had hidden up to US$154 million (S$207.36 million) in expenses through false accounting entries over more …

straitstimes.com

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Macy's Says Employee Intentionally Hid Up To $154 Million In …

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1 day ago  · Macy’s reported weaker-than-expected sales for the third quarter and said it’s delaying the release of its full quarterly results after it discovered an employee intentionally hid …

huffpost.com

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Macy’s Says Employee Hid Up To $154 Million In Expenses - WGN-TV

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1 day ago  · Macy's reported weaker-than-expected preliminary sales for the fiscal third quarter and said it's delaying the release of its quarterly earnings results after it discovered an up to …

wgntv.com

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Macy’s Says Accounting Employee Hid Up To $154 Million In

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Macy’s delayed its quarterly results after the company discovered that an employee had hidden up to $154 million in corporate delivery expenses over several years, prompting an …

msn.com

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Macy’s Says Employee Hid Up To $154 Million In Expenses

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2 days ago  · Macy’s says it’s delaying the release of its fiscal third-quarter earnings results after it discovered an up to $154 million accounting-related issue. The company did provide some …

whec.com

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Macy’s Says Employee Hid Up To $154 Million In Expenses, Delaying …

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1 day ago  · Macy’s says it’s delaying the release of its fiscal third-quarter earnings results after it discovered an up to $154 million accounting-related issue. The company did provide some …

kstp.com

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Macy’s Says An Employee Hid Up To $154 Million In Expenses

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8 hours ago  · Macy’s reported stronger-than-expected sales for the third quarter and said it’s delaying the release of its full quarterly results after it discovered an employee intentionally hid …

theyeshivaworld.com

FAQs about Macy's says an employee hid as much as $154 million in expenses Coupon?

Did Macy's employee hide $154 million in delivery expenses?

Cars sit parked in front of a Macy's store at Bay Fair Mall on Feb. 27, 2024 in San Leandro, California. A former Macy's employee allegedly hid up to $154 million in delivery expenses for nearly three years, the retailer announced on Monday. ...

Why did Macy's delay its third-quarter earnings report?

Write to Ben Glickman at [email protected] Macy’s delayed its third-quarter earnings report after the company said an employee had hid up to $154 million in delivery expenses over several years, prompting an investigation. ...

Why did Macy's hide $132 million to $154 million?

The company said its investigation has found the employee had hid $132 million to $154 million cumulatively from the fourth quarter of 2021 through the most recent period. Macy’s said there was no evidence the accounting errors had affected its cash management or payments to vendors. ...

Who is responsible for Macy's delivery errors?

The company said it had recognized about $4.36 billion in delivery expenses over the same time period. Macy’s said it hasn’t identified involvement by any other employees, and the person who was responsible for the errors is no longer employed by the company. ...

Did Macy's' accounting error affect cash management?

Macy's said the employee was no longer with the company and there was "no indication that the accounting error had any impact on the cash management activities or vendor payments." America's largest department store was expected to post its Q3 earnings report on Tuesday before the market open. ...

What if Macy's is underreported?

"Macy's has over $8 billion a year in operating expenses, so even if it's $50 million a year underreported, that's immaterial for Macy's, that would be less than 1% of Macy's annual expenses." "From what we know with the limited amount [of information] ... a rogue employee did something wrong," Swartz said. ...

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