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Macy's fired an employee for hiding $150M in expenses, leading to a stock drop and store closures.
Macy's completed an investigation into an employee who hid over $150 million in delivery expenses over nearly three years.
The employee falsified records to cover up an initial accounting mistake, without personal gain.
Macy's terminated the employee and implemented stricter controls.
This led to a 11% drop in the company's shares and a delay in the third-quarter earnings report.
Macy's also plans to close around 150 stores by 2027.
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Macy ha despedido a un empleado por ocultar $150 millones en gastos, lo que llevó a una caída de existencias y cierres de tiendas.