Macy's latest challenge linked to internal accounting irregularities is not overbearing, but does not reflect well. Read my analysis of M's preliminary report.

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.

Macy's on Monday delayed the publication of its third-quarter results due to an accounting issue tied to delivery expenses and instead posted preliminary results in which its sales missed Wall Street expectations.

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

Starting in 2021 an employee hid $132 million to $154 million in delivery expenses, a disclosure overshadowing an otherwise decent quarter.

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 cites erroneous accounting accrual entries and delays Q3 results. The retailer's preliminary third-quarter sales missed estimates.

Macy's on Monday delayed its Q3 earnings release as it conducts an internal investigation into an employee hiding hundred of millions of dollars of expenses.

Macy's on Monday delayed publication of its third-quarter results after discovering an accounting issue related to delivery expenses and instead reported preliminary results in which its sales missed Wall Street expectations.

The retailer said the funds were not stolen, vendor payments were unaffected and the individual responsible is no longer with the company.

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.