The Macy's Thanksgiving Day Parade is less than four weeks away and preparation for the big event is already underway at the MetLife Stadium. NBC's Angie Lassman reports for TODAY from MetLife Stadium.
Macy’s on Monday said an employee responsible for managing accounting for small package deliveries concealed up to $154 million in expenses over the course of nearly three years. The person who allegedly hid the money is no longer with the company, the department store operator said Monday morning, ahead of its third-quarter earnings report. The company, whose statement on the matter didn’t say when the person left the job, declined to comment beyond the announcement.
The company said the employee, who was responsible for the accounting of small package delivery expenses, “intentionally made erroneous accounting accrual entries” to hide about $132 million to $154 million from the fourth quarter of 2021 through the most recently completed quarter. Macy’s said its delivery expenses totaled around $4.36 billion during that period. The independent investigation hasn’t identified any other Macy’s employee, the company said. “At Macy’s, Inc.
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Macy's says employee hid up to $154 million since 2021Mike Calia is the managing editor for business and the economy at NBC News.
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