A former employee intentionally hid expenses totaling as much as $154 million in the company's small package delivery department over a roughly three-year period, Macy's said in a financial disclosure on Monday. The discovery forced Macy's to delay its ...

The department store company Macy’s delayed its complete quarterly results release after finding out one of their employees “intentionally” hid approximately $154 million of expenses over a few years.

The department store chain said it had found the erroneous accounting entries while preparing its results for the third quarter.