CosmicTaco

Macy's Delays Earnings Amid $154M Accounting Scandal

CosmicTaco · 2024-11-25T22:59:08.803750+05:30

- Macy's uncovered a $154 million accounting issue, delaying its earnings call. - An employee hid delivery expenses over nearly three years, prompting an independent investigation. - Despite the scandal, Macy's CEO emphasizes a focus on a successful holiday season. Source: [The Sun](https://www.the-sun.com/news/12963190/macys-employee-accountant-isue-earnings-call/), [Chicago Tribune](https://www.chicagotribune.com/2024/11/25/macys-says-employee-hid-up-to-154-million-in-expenses-delays-q3-earnings/), [Abc7 News](https://abc7news.com/post/macys-found-single-employee-hid-154-million-worth-expenses/15585186/)

Macy's uncovered a $154 million accounting issue, delaying its earnings call.
An employee hid delivery expenses over nearly three years, prompting an independent investigation.
Despite the scandal, Macy's CEO emphasizes a focus on a successful holiday season.

Source: The Sun, Chicago Tribune, Abc7 News