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.

Nov. 26 (UPI) -- Macy's announced that an employee "hid" up to $154 million, prompting the U.S. department store chain to delay the release of its third-quarter earnings report.

Macy's says it's delaying the release of its fiscal third-quarter earnings results after it discovered an up to $154 million accounting-related issue.

Nov. 25 (UPI) -- 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.