Macy's Employee Accused of Concealing $132 Million in Delivery Costs
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Macy's has postponed its earnings call due to an employee's intentional accounting error, which concealed $132 million in delivery costs over nearly three years.
November 25, 2024 | 3:00 pm
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Macy's has delayed its earnings call after discovering an employee concealed $132 million in delivery costs over nearly three years, indicating potential financial and regulatory challenges.
The discovery of a significant accounting error involving $132 million in concealed delivery costs is likely to negatively impact Macy's stock in the short term. The delay in the earnings call suggests potential financial and regulatory challenges, which could lead to investor uncertainty and a decrease in stock price.
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