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Investigation Reveals Loan Wolf Ex-Employee Costs Macy's $151 Million
MMacy's(M) Forbes·2024-12-12 15:43

Macy's has revealed a concealed delivery cost of over 150million.(PhotobyMichaelM....[+]Santiago/GettyImages)GettyImagesDepartmentstorechainMacy’swasleftreelingthisweekaftertheresultsofanembarrassingaccountancyinvestigationrevealedtensofmillionsofdollarsinundeclaredcosts.Asaresult,Macy′s−whichalsoownsBloomingdale′sandBluemercury−wasforcedtoslashitsannualprofitoutlookafterdiscoveringthataformeremployeehadconcealedmorethan150 million. (Photo by Michael M. ... [+] Santiago/Getty Images)Getty Images Department store chain Macy’s was left reeling this week after the results of an embarrassing accountancy investigation revealed tens of millions of dollars in undeclared costs.As a result, Macy's - which also owns Bloomingdale's and Bluemercury - was forced to slash its annual profit outlook after discovering that a former employee had concealed more than 150 million in deliv ...