Macy's Probe Found Employee Acted Alone in $151 Million Accounting Scandal

The retailer found that a single employee’s mistake and coverup created millions of dollars in false bookkeeping entries.

Macy's employee who hid $151 million in delivery expenses was trying to mask initial mistake, sources say

The department store operator slightly raised its full-year forecast, while still projecting a sales decline.
CNBC - 6h
Macy’s Earnings Report Details Multimillion-Dollar Accounting Error

Analysts see much bigger challenges for the retailer than lax accounting.
The New York Times - 10h
Business leaders warn Reeves about the impact of her Budget tax rises

Banking, energy and transport executives voice concerns in meeting with UK chancellor
Financial Times - 12h
Macy's confirms rogue employee hid $151 million in expenses over three years

A rogue employee was responsible for hiding $151 million in delivery expenses over the course of nearly three years, Macy's said Wednesday.
NBC News - 13h
US inflation rose to 2.7% in November

Figure matches Wall Street’s forecasts and clears way for Federal Reserve rate cut next week
Financial Times - 10h
Bank shares jump after UK court agrees to hear car loans appeal

Supreme Court grants lenders permission to challenge earlier ruling
Financial Times - 16h
UnitedHealthcare CEO shooting suspect wrote that he acted alone: Report

Luigi Mangione, the suspect charged in the fatal shooting of UnitedHealthcare CEO Brian Thompson, said in a handwritten note he acted alone. Mangione, an Ivy League graduate who was arrested Monday ...
The Hill - 1d

Macy's employee who hid $151 million in delivery expenses was trying to mask initial mistake, sources say