Macy’s says accountant hid up to $154 million in expenses

Published November 25, 2024 11:53am ET



An accounting employee for Macy’s intentionally hid between $132 million and $154 million in delivery expenses over several years, delaying the company’s third-quarter results.

The person, who was specifically responsible for small-package delivery expense accounting, is no longer employed by the company. It is unknown what the person’s motivations were for hiding the expenses.

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