Macy’s reported stronger-than-expected sales for the third quarter and said it’s delaying the release of its full quarterly results after it discovered an employee intentionally hid up to $154 million of expenses over several years.

The employee "intentionally made erroneous accounting accrual entries" to hide millions of dollars, Macy's said. The error forced the company to delay reporting its third quarter results.

An internal investigation revealed that a single employee intentionally concealed these expenses over nearly three years.

Macy's says it will push back its third-quarter earnings report after discovering an employee "intentionally" hid as much as $154 million in shipping expenses.

Macy's M.N on Monday delayed its third-quarter results after finding that an employee hid as much as $154 million in expenses over years, instead issuing preliminary sales figures that fell short of Wall Street expectations.

Macy's postponed its Q3 earnings after an investigation revealed that an employee concealed between $132 million and $154 million in expenses.

Macy’s delayed its quarterly results after the company discovered that an employee had hidden up to $154 million in delivery expenses over several years, prompting an investigation.The retailer said Monday that a single employee,

Macy's posted preliminary third-quarter results but delayed its full earnings report as it investigates up to $154 million in erroneously reported expenses. The company said it discovered the issue when it was preparing its earnings,

Macy’s Inc. is delaying its third-quarter earnings release after an investigation revealed an employee hid more than $100 million of expenses over several years.

Macy's announced Monday that it would delay its full third-quarter earnings report because of an employee hiding up to $154 million in expenses, sending its stock plummeting in early trading.