NOT ACCOUNTED FOR

Macy’s Discovers Worker Hid Up to $154M in Expenses in Mystery Ploy

The department store said it had cut ties with the employee, while their auditor has remained silent.

Department store behemoth Macy’s has suffered an embarrassing faux pas after it was revealed that an accounting employee hid up to $154 million in delivery expenses in a years-long scheme. The employee, who has not been named, has been given the boot but Macy’s has been forced to delay its quarterly results after stumbling across the matter that stems back to 2021, the Wall Street Journal reported. However, mystery surrounds the strange saga because the ex-worker didn’t actually pocket the funds, and Macy’s won’t say how they were busted. “While Macy’s cannot control the actions of every employee, it is worrying that these are intentional accounting errors that go back to 2021,” said Neil Saunders, managing director of research firm GlobalData. Saunders added that it “also raises the question as to the competence of the company’s auditors.” The company’s auditor, KPMG, has refused to comment.