Retailers

The retailer trimmed its profit outlook after concluding its investigation into an employee plot to hide millions of dollars in expenses.

But last weekend was just the beginning: Retailers need help for the rest of the year, too.

The retailer said the incident involved only one former employee, who had hidden as much as $154 million of delivery expenses since 2021.

An employee "intentionally" made erroneous accounting accrual entries to hide about $132 million to $154 million of cumulative delivery expenses stretching over multiple years.

They're great for customers, but these annual events are not necessarily great for retailers.

Magazine Luiza's announcement of accounting "inconsistencies" deals another blow to companies that have struggled after the scandal that brought down Americanas.

Dirk Schreiber was the first top manager to be imprisoned over an accounting scandal that led to the near-collapse of the retailer.

This handful of tax and accounting tactics can help retailers better manage this major challenge.

Steinhoff, the former owner of Mattress Firm in the U.S., has been battling to survive ever since auditors refused to sign off on its financials.

The store faces lawsuits from customers for alleged failure to deliver prepaid wine, is delinquent on $2.8 million in taxes, and reportedly could be evicted from its midtown home.