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Macy’s Employee Accused of Concealing $132 Million in Delivery Costs | PYMNTS.com

Macy’s has delayed its earnings call after discovering a multimillion-dollar “intentional” employee accounting error. That employee, the retailer said in
www.pymnts.com www.pymnts.com

Macy’s has delayed its earnings call after discovering a multimillion-dollar “intentional” employee accounting error.

That employee, the retailer said in a securities filing Monday (Nov. 25) had hidden at least $132 million in delivery expenses over a nearly three-year period.

According to the filing, this employee — who no longer works for the company — “intentionally made erroneous accounting accrual entries” to conceal between $132 million and $154 million of delivery expenses between Macy’s fourth quarter of 2021 and the quarter which ended earlier this month.
 
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