Macy’s touted metric manipulated by employee, Bloomberg reports

Macy’s (M) touted for years its ability to boost profits by cutting delivery costs and trimming other expenses before revealing this week that those very costs were manipulated by an employee, Jeannette Neumann of Bloomberg reports. While the amount of hidden expenses by the former employee is a small portion of Macy’s overall delivery costs, the discovery raises questions about the checks and balances the company has in place to ensure accurate accounting of its business activities, says Neumann.