The release of its full quarterly results after it discovered an employee intentionally hid up to $154 million of expenses over several years. Macy's said the individual is no longer employed with the company and it does not appear that any other individuals were involved. 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 Employee hid upwards of 154M in delivery expenses UPI
Macy's said that it found an issue with delivery expenses
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 years.
The company recently discovered that the unnamed employee intentionally hid as much as $154 million in expenses over the course of nearly three years, prompting the retailer to conduct an The company recognized about $4.36 billion of delivery expenses during the same time period. Macy's said that there's no indication the erroneous accounting accrual entries had any impact on The company says the misconduct didn't impact cash management or vendor
Macy's revealed that the employee manipulated accounting records to hide between $132 million and $154 million in expenses from the fourth quarter of 2021 through the fiscal quarter ending nov. Preliminary sales fell 2.4% to $4.74b, below wall street estimates, and shares Macy's said on monday that an employee had intentionally misstated and hidden up to $154 million in delivery expenses over the past few years, forcing the retailer to delay a much The company says the misconduct didn't impact cash management or vendor payments;
The company says the misconduct didn't impact cash management or vendor payments;
The employee is no longer with macy's. Preliminary results show q3 net sales fell 2.4% to $4.74b, slightly beating analyst estimates of $4.72b. The company says the misconduct didn't impact cash management or vendor payments; The employee is no longer with macy's.
Preliminary results show q3 net sales fell 2.4% to $4.74b, slightly beating analyst estimates of $4.72b. Macy's said the probe identified that a single employee intentionally made erroneous accounting accrual entries to hide ~$132 million to $154 million of cumulative delivery expenses from the The company says the misconduct didn't impact cash management or vendor The company says the misconduct didn't impact cash management or vendor payments;
The company says the misconduct didn't impact cash management or vendor
The company says the misconduct didn't impact cash management or vendor Delays q3 results after employee hid more than $132m of delivery expenses. The company says the misconduct didn't impact cash management or vendor The company says the misconduct didn't impact cash management or vendor payments;
The employee is no longer with macy's. Preliminary results show q3 net sales fell 2.4% to $4.74b, slightly beating analyst estimates of $4.72b. The company says the misconduct didn't impact cash management or vendor The company says the misconduct didn't impact cash management or vendor payments;
The employee is no longer with macy's.
Preliminary results show q3 net sales fell 2.4% to $4.74b, slightly beating analyst estimates of $4.72b. The company says the misconduct didn't impact cash management or vendor The entries reportedly hid between roughly $132m to $154m of expenses during a time period in which macy's had $4.36bn of delivery expenses.
