Macy's Employee Accused of Concealing $132 Million in Delivery Costs

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 ...