Macy’s provides more details about that employee who hid more …

Dec 11, 2024 · Macy’s said Wednesday that it has concluded its investigation into an employee who intentionally hid more than $150 million in expenses, and it has tightened its controls to …

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Macy’s Provides More Details About That Employee Who Hid More …

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Dec 11, 2024 · Macy’s said Wednesday that it has concluded its investigation into an employee who intentionally hid more than $150 million in expenses, and it has tightened its controls to …

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Macy’s Provides More Details About That Employee Who Hid More …

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Macy’s said Wednesday that it has concluded its investigation into an employee who intentionally hid more than $150 million in expenses, and it has tightened its controls to avoid a repeat of ...

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Macy’s Provides More Details About That Employee Who Hid More …

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Dec 11, 2024 · (CNN) — Macy’s said Wednesday that it has concluded its investigation into an employee who intentionally hid more than $150 million in expenses, and it has tightened its …

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Macy's Confirms Rogue Employee Hid $151 Million In Expenses

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Dec 11, 2024 · Although $151 million is small relative to the $4.36 billion Macy's said it had tallied in overall delivery expenses during the period in question, it is more than the entire company's …

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Macy’s Provides More Details About That Employee Who Hid More …

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Dec 11, 2024 · Macy’s stock fell more than 11% in premarket trading after the company reduced its profit forecast.The company significantly lowered its earnings forecast to between $2.25 to …

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Macy's Rogue Employee Hid $151M In Expenses To Cover Up …

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Dec 11, 2024 · Macy’s said an investigation into accounting problems found that a rogue employee hid more than $151 million in expenses to cover up a bookkeeping mistake and …

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Macy Updates Status Of Employee That Hid $151M Over 3 Years

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Dec 11, 2024 · Macy's CEO Tony Spring provided a fresh update on the rogue employee who hid $151 million in delivery expenses since 2021 and disclosed the individual is no longer with the …

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Macy’s Says An Employee Hid As Much As $154 Million In Expenses

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Nov 25, 2024 · A former Macy's employee allegedly hid up to $154 million in delivery expenses for nearly three years, the retailer announced on Monday. Macy's said that it found an issue with …

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Macy’s Provides More Details About That Employee Who Hid More …

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Dec 11, 2024 · (CNN) — Macy’s said Wednesday that it has concluded its investigation into an employee who intentionally hid more than $150 million in expenses, and it has tightened its …

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Employee Hid $154 Million In Expenses: Macy’s - Fox 8 Cleveland …

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Nov 25, 2024 · Employee hid $154 million in expenses: Macy’s ... The company did provide some preliminary results for its third quarter, including that net sales fell 2.4% to $4.74 billion, slightly …

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Macy’s Says Employee Hid Up To $154 Million In Expenses - WGN-TV

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Nov 25, 2024 · Macy’s says employee hid up to $154 million in expenses ... The company did provide some preliminary results for its third quarter, including that net sales fell 2.4% to $4.74 …

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Macy's Delays Q3 Earnings After Employee Conceals $154M In …

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Nov 25, 2024 · The Brief. Macy's delayed its Q3 earnings report after discovering an employee hid $132M-$154M in expenses since 2021. The company says the misconduct didn't impact …

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FAQs about Macy’s provides more details about that employee who hid more … Coupon?

Did Macy's hide $151 million in delivery expenses?

Macy's is claiming a lack of serious impact after an independent investigation determined that an employee had hid $151 million in delivery expenses. ...

Did Macy's rogue employee hide $151 million in delivery expenses?

FOX Business' Breck Dumas contributed to this report. Macy's CEO Tony Spring provided a fresh update on the rogue employee that hid $151 million in delivery expenses since 2021 and disclosed the individual is no longer with the company. ...

Why did Macy's lower its earnings estimates?

Macy's lowered its earnings estimates for the year after its third quarter results showed weakness in its sales. Macy’s said an investigation into accounting problems found that a rogue employee hid more than $151 million in expenses to cover up a bookkeeping mistake and wasn't motivated by personal or financial gain, according to a report. ...

How did Macy's investigate a employee?

Macy's did not disclose any additional information about how the employee's actions were discovered and reiterated that the person is "no longer with the company." Macy's said the investigation found that its internal accounting controls were vulnerable to employees sidestepping them. The company said it is revising those processes. ...

Did Macy's employee hide $154 million in accounting errors?

Daily news about the politics, business, and technology shaping our world. Macy’s surprise announcement that one employee hid $154 million in accounting errors over the past three years leaves a lot of unanswered questions. ...

Does Macy's have a problem with delivery?

But as delivery becomes increasingly essential to its business, Macy’s found this fall that it had a big problem there, too. Ahead of the release of its third-quarter results, the company said that it found one employee working in “small package delivery expense accounting” had made bogus entries to hide up to $154 million in expenses. ...