News - M

M News Explorer

Stay informed with the latest market news and analysis about M

2024-11-25


Macy's says it will push back its third-quarter earnings report after discovering an employee "intentionally" hid as much as $154 million in shipping expenses.

Macy's on Monday delayed its Q3 earnings release as it conducts an internal investigation into an employee hiding hundred of millions of dollars of expenses.

An employee "intentionally" concealed expenses related to package deliveries, the retailer says.

The department store chain said it had found the erroneous accounting entries while preparing its results for the third quarter.

Macy's on Monday delayed its Q3 earnings release as it conducts an internal investigation into an employee hiding hundred of millions of dollars of expenses.