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Macy's Q3 results delayed
Macy’s says employee hid up to $154 million in expenses, delaying Q3 earnings
Macy’s reported stronger-than-expected sales for the third quarter and said it’s delaying 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 Delays Q3 Earnings After Employee Hid up to $154M in Expenses
An internal investigation revealed that a single employee intentionally concealed these expenses over nearly three years.
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.
13h
Macy's Battles Back: Q3 Gains Marred by $154M Accounting Scandal Ahead of Holiday Season
Early sales growth sparks hope, but a $154M bookkeeping fiasco leaves investors uneasy ahead of December's full report.
The Express Tribune
3h
Macy’s delays Q3 earnings after uncovering $154M hidden expenses by former employee
The individual responsible is no longer with the company, and no other employees were implicated.
Macy’s
now expects to ...
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