Rogue employee at Macy's intentionally ‘hid' up to $154M in expenses

Macy’s said a rogue employee intentionally concealed as much as $154 million in expenses over the past few years, forcing the department-store giant to delay its quarterly earnings release.The employee “intentionally made erroneous accounting” entries in an effort to hide expenses for years — dating back to the fourth quarter of 2021 through the most recent quarter ended Nov. 2, the company said.Macy’s estimates the missing expenses between $132 million and $154 million. During the three-year period in ques ...