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. The iconic U.S. department store, known for hosting New York City's ...

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

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 announced Monday that a single employee was responsible for so many accounting irregularities that the company was forced to delay its quarterly earnings report, which the retailer had planned to release Tuesday.

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 retailer delayed its quarterly results after it said an employee hid delivery expenses over several years, prompting an investigation.