Macy's says employee 'intentionally' hid up to $154M in expenses
MMacy's(M) Fox Business·2024-11-26 01:31

Macy's Inc. says it will no longer release its full third-quarter earnings report this week as planned, after discovering an employee "intentionally" hid up to $154 million in expenses. The retailer had been slated to release its report on Tuesday morning, but instead posted preliminary findings on Monday that showed it missed Wall Street expectations. The department store chain said that in preparing its financial statements for the quarter, it discovered something was off with its delivery expenses in one ...