Macy's Delays Earnings Report After Employee Hides $154M in Expenses
- Macy's delayed its quarterly earnings report due to accounting irregularities caused by an employee hiding $154 million in expenses over nearly three years.
- The employee, no longer with the company, "intentionally made erroneous accounting accrual entries" to conceal delivery expenses.
- Macy's expects to report third-quarter results by December 11, with no impact on cash management or vendor payments noted.
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Coverage Details
Total News Sources0
Leaning Left27Leaning Right25Center47Last UpdatedBias Distribution47% Center
Bias Distribution
- 47% of the sources are Center
48% Center
L 27%
C 48%
R 25%
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