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Macy’s employee hid up to $154M in expenses

ABC News on MSN · 2d

How did a Macy’s employee hide millions in expenses for years?

A former employee intentionally hid expenses totaling as much as $154 million in the company's small package delivery department over a roughly three-year period, Macy's said in a financial disclosure on Monday.

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 found a single employee hid up to $154 million worth of expenses

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, which the retailer had planned to release Tuesday.

4don MSN

Macy's says employee hid up to $154 million in expenses since 2021

Macy's said a former employee concealed up to $154 million in delivery expenses over the course of nearly three years.

4don 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.

4don MSN

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

Macy’s said an employee hid as much as $154 million in delivery expenses over a three-year period, prompting the retailer to ...

2d

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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