Macy's delayed its earnings report after discovering a $154M expense cover-up by an employee.

Macy's, a major U.S. department store chain, delayed its third-quarter earnings report after discovering that an employee had hidden around $154 million in delivery expenses over several years. The employee involved has since left the company. Macy’s shares initially dropped but later recovered some losses. The company has released a brief financial statement showing mixed results.

November 25, 2024
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