Macy's says worker hid up to $154m in expenses
The Guardian|November 26, 2024
Macy's revealed yesterday that a single employee had been responsible for hiding up to $154m (£122m) in expenses over the course of nearly three years, prompting the company to delay the release of its quarterly earnings report.
Erum Salam
Macy's says worker hid up to $154m in expenses

The US's largest department store chain, which owns other brands such as Bloomingdale's and Bluemercury, found so many internal accounting irregularities that it was forced to conduct an independent forensic accounting investigation.

Its full quarterly earnings report, originally planned for release today, will now not be released until 11 December.

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The Guardian

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