Macy's discovered that an employee had concealed the company's delivery costs of up to US$154 million over the past few years, which prompted the company to launch an investigation and delay the release of financial reports. Macy's said on the 25th that since the end of 2021, an employee responsible for accounting for small package delivery costs has deliberately made erroneous accounting entries. This person did not own the relevant funds. Macy's did not disclose how the erroneous entries were discovered, nor did it disclose why its auditing agency KPMG did not detect these errors. Macy's said it will provide details of the investigation when the financial report is released on December 11.

Macy's discovered that an employee had concealed the company's delivery costs of up to US$154 million over the past few years, which prompted the company to launch an investigation and delay the release of financial reports. Macy's said on the 25th that since the end of 2021, an employee responsible for accounting for small package delivery costs has deliberately made erroneous accounting entries. This person did not own the relevant funds. Macy's did not disclose how the erroneous entries were discovered, nor did it disclose why its auditing agency KPMG did not detect these errors. Macy's said it will provide details of the investigation when the financial report is released on December 11.