Macy's Delays Earnings Report After Employee Hides $154M in Expenses

Macy's Q3 Audit Reveals Employee Hid $154M

(Photo Credit: Gary Hershorn/Getty Images) The department store company Macy’s delayed its complete quarterly results release after finding out one of their employees “intentionally” hid approximately $154 million of expenses over a few years. On Tuesday, the company was scheduled to reveal its quarterly report. However, on Monday, it released preliminary findings, which included an issue associated with delivery expenses in an accrual account i…

Macy’s Employee Million-Dollar Expenses: Inside the Financial Scandal

Ahead of the Thanksgiving holiday this year, Macy's made headlines after it was revealed that a former employee hid millions of dollars worth of expenses.

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

Macy’s is delaying its third-quarter earnings release and conference call because of an employee’s intentional accounting errors, which could reach $154 million.

How did a Macy's worker conceal up to $154 million in fake expenses? Experts weigh in

The company has delayed its full third-quarter earnings report until Dec. 11.

Macy’s Delays Results Amid Investigation into Employee ‘Hiding’ $154M

Macy’s has delayed its final earnings release while it completes an investigation into falsified delivery expenses linked to an employee.

Macy’s Says Accounting Worker Hid $154 Million in Expenses

When the Macy’s Thanksgiving Day Parade kicks off in Manhattan on Thursday, one former employee of the department store chain will be taking more than a holiday. Macy’s shocked markets Monday when it announced that, as it was preparing its third-quarter earnings report, it discovered a single worker hid up to $154 million in delivery expenses over the last three years. Those earnings, originally set to drop today, were delayed to December 11. Th…