5 Things to Know About Macy’s $100 Million Accounting Issue
A Macy’s employee intentionally hid up to $154 million in delivery expenses over the past three years. Investors have a lot of questions.
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.
Macy's says employee 'intentionally' hid up to $154M in expenses
Macy's says it will push back its third-quarter earnings report after discovering an employee "intentionally" hid as much as $154 million in shipping expenses.
Macy’s Discovers Employee Hid Millions in Delivery Expenses
The department store chain said it had found the erroneous accounting entries while preparing its results for the third quarter.
Macy's Q3 results delayed after employee hides millions in expenses
Macy's M.N on Monday delayed its third-quarter results after finding that an employee hid as much as $154 million in expenses over years, instead issuing preliminary sales figures that fell short of Wall Street expectations.
Macy’s says employee hid up to $154 million in expenses, delaying Q3 earnings
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 finds employee hid $154 million in expenses, earnings report delayed
Macy's announced Monday that it would delay its full third-quarter earnings report because of an employee hiding up to $154 million in expenses, sending its stock plummeting in early trading.
Macy's Delays Earnings After Finding Millions of Hidden Expenses
Macy's said it would delay the release of its third-quarter earnings after an investigation revealed an employee hid over $100 million of expenses. An employee responsible for small package delivery expense accounting intentionally made erroneous accounting accrual entries to hide about $132 million to $154 million of cumulative delivery expenses,
Macy’s Worker Hid Millions in Expenses, Prompting Earnings Delay
Macy’s Inc. is delaying its third-quarter earnings release after an investigation revealed an employee hid more than $100 million of expenses over several years.
Macy’s forced to delay quarterly earnings due to employee hiding up to $154 million in expenses
CNN’s Vanessa Yurkevich reports on Macy’s announcing that a single employee was responsible for so many accounting irregularities that the company was forced to delay its quarterly earnings report.
Macy's employee hid more than $130m in delivery expenses
US department store Macy's has said a rogue staffer concealed more than $130m (£103m) in company costs over roughly three ...
What Small Business Owners Should Learn from Macy’s Missing $150 Million
The department store chain had to delay its third quarter financial statements after uncovering 'erroneous accounting accrual ...
Storm Threatens Macy's Thanksgiving Day Parade As 15 States Hit With Winter Weather Warning
The Macy's Thanksgiving Day Parade will be wet as forecasts predict rain and cold temperatures. This live blog is now closed.
Macy's says an employee hid up to $152 million in expenses
Macy's delays its quarterly earnings report after discovering that an accounting unit employee concealed delivery expenses.
These Stocks Are Moving the Most Today: Super Micro, Snowflake, Palantir, MicroStrategy, Robinhood, Macy’s, Cassava, and More
Shares of Super Micro Computer extend last week’s sharp gains, Snowflake stock is upgraded, and MicroStrategy buys more ...
Chicago police investigate downtown shooting near Macy's
Police are investigating a shooting that injured a woman Saturday night near Macy's on State Street. I ordered a club ...
Havasu News3h
Rainy, chilly weather expected to dampen the Macy’s Parade
Rainy and windy weather is expected to arrive in New York City later this week, leading to a wet and blustery Macy’s ...