Macy's: What Next, After An Incomplete Q3 Report?
Macy's latest challenge linked to internal accounting irregularities is not overbearing, but does not reflect well. Read my analysis of M's preliminary report.
Macy’s Q3 Audit Reveals Employee Hid $154M
The department store company Macy’s delayed its complete quarterly results release after finding out one of their employees “intentionally” hid approximately $154 million of expenses over a few years.
Macy's delays Q3 earnings report, says employee hid up to $154 million in expenses
Macy's on Monday delayed its Q3 earnings release as it conducts an internal investigation into an employee hiding hundred of millions of dollars of expenses.
Macy's Q3 results delayed after employee hides millions in expenses
Macy's M.N on Monday delayed its third-quarter results after finding that an employee hid as much as $154 million in expenses over years, instead issuing preliminary sales figures that fell short of Wall Street expectations.
Macy's Stock Slips After Error Leads to Q3 Earnings Delay
Macy's shares moved lower Monday morning after the retailer unexpectedly posted preliminary results for the third quarter, and said its official report for the quarter would be delayed following an investigation into an accounting issue.
Macy’s delays full Q3 report over millions in fraudulent expense accounting
Starting in 2021 an employee hid $132 million to $154 million in delivery expenses, a disclosure overshadowing an otherwise decent quarter.
Macy's delays Q3 report on accounting issue, expects weaker sales
Macy's on Monday delayed the publication of its third-quarter results due to an accounting issue tied to delivery expenses and instead posted preliminary results in which its sales missed Wall Street expectations.
Why Macy’s delayed its Q3 earnings release
Macy's cites erroneous accounting accrual entries and delays Q3 results. The retailer's preliminary third-quarter sales missed estimates.
Macy’s says employee hid up to $154 million in expenses, delaying Q3 earnings
Macy’s says it’s delaying the release of its fiscal third-quarter earnings results after it discovered an up to $154 million accounting-related issue
Macy’s delays Q3 earnings after accounting employee hid up to $154M in expenses: Trial Balance
The retailer said the funds were not stolen, vendor payments were unaffected and the individual responsible is no longer with the company.
Macy's Reports Preliminary Q3 Results, Postpones Earnings Release
Shares of Macy’s M fell 2.2% during the trading session yesterday, as investors digested the news of a delay in fiscal third-quarter 2024 earnings release. The delay is related to the discovery of accounting irregularities for delivery expenses.
Macy's Delays Q3 Earnings After Employee Hid up to $154M in Expenses
An internal investigation revealed that a single employee intentionally concealed these expenses over nearly three years.
Macy's Battles Back: Q3 Gains Marred by $154M Accounting Scandal Ahead of Holiday Season
Early sales growth sparks hope, but a $154M bookkeeping fiasco leaves investors uneasy ahead of December's full report.