Department store retailer Macy’s, Inc., (NYSE: M) stated on Monday that an employee hid up to $154 million through intentional accounting errors since 2021.
In its preliminary third quarter 2024 results, the company reported it recently identified an issue related to delivery expenses on one of its accrual accounts. After starting an independent investigation and forensic analysis, the company identified one employee who was responsible for small package delivery expense accounting accrual...