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Article Summary
- Macy's announces that an employee hid up to $154 million in expenses
- The employee responsible has been terminated
- The company is conducting an investigation to determine the full extent of the fraud
- Macy's is working to strengthen its internal controls to prevent future incidents
- The incident has caused a significant financial impact on the company Tone: Concerned and serious
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Macys Says Employee Hid Up To $154 Million In Expenses
By MICHELLE CHAPMAN 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 retailer said Monday that it identified an issue related to delivery expenses in one of its accrual accounts earlier this month. An independent investigation and forensic analysis found that […]
https://www.baltimoresun.com/2024/11/25/macys-says...
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