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Macy’s released a preliminary earnings report Monday and revealed that quarterly sales slipped 2.4% to $4.7 billion because of weakness in its digital channels and cold weather categories as the ...
Macy’s finally released its third-quarter earnings on Wednesday after having to delay it due to a massive accounting scandal caused by one employee. The employee, who no longer works for Macy ...
Macy's said an employee intentionally made accounting errors totaling $132 million to $154 million. Auditing experts told BI the available evidence suggests a failure of internal accounting controls.
Macy's has delayed Q3 earnings as it investigates over $130 million in hidden expenses. Macy's said a single employee was responsible for "erroneous accounting accrual entries." The employee is no ...
The Macy’s employee, who is no longer with the company, hid delivery expenses during the course of almost three years. A Macy’s employee made accounting errors ‘intentionally,’ hiding up ...
Number 1, Macy's is obviously a very big company, and when you look at their income statement, you can start to put that into context. If we think about this money that was hidden.
Macy's said it discovered the issue while preparing its financial report for the quarter ending Nov. 2. It did release preliminary findings for the period, saying overall net sales declined 2.4% ...
The company has delayed its full third-quarter earnings report until Dec. 11.