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  • Macy’s posted preliminary third-quarter results but delayed its full earnings report as it investigates up to $154 million in erroneously reported expenses.
  • The company said it discovered the issue when it was preparing its earnings, adding the employee who hid the expenses no longer works at the company.
  • The retailer said third-quarter sales fell, and expects to post full-year guidance by Dec. 11.
>- Macy’s posted preliminary third-quarter results but delayed its full earnings report as it investigates up to $154 million in erroneously reported expenses. - The company said it discovered the issue when it was preparing its earnings, adding the employee who hid the expenses no longer works at the company. - The retailer said third-quarter sales fell, and expects to post full-year guidance by Dec. 11. [Source](https://www.cnbc.com/2024/11/25/macys-posts-preliminary-results-delays-full-earnings-release.html)

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[–] • 1 pt

Was the employee framed? Nice twist.

[–] • 1 pt

With the way things are these days, $154M going "missing" is either an inside job, or it occurred in the government.

[–] • 1 pt

Exactly. ONE guy stealing a couple million is plausible. 154 million?

[–] • 0 pt

Department heads are always worried about their numbers because they want their year end bonus. To get away this long, he either was in charge of some department where he could "spend" this money into his own pocket, or, he skimmed from multiple departments, either getting other higher ups involved or he figured out a way (or already had a way from his position) to take out money in a way that it wouldn't be noticed for a few months.