Days before Macy's is set to take center stage for its annual Thanksgiving Day Parade, the department store chain this week revealed a years-long accounting debacle unlikely to inspire gratitude among shoppers and shareholders. A former employee ...

For years, Macy’s Inc. touted its ability to boost profits by cutting delivery costs and trimming other expenses on calls with Wall Street analysts. Then on Monday, the department store chain surprised investors by revealing that those very costs had become the source of an internal investigation into what the company has described as a multimillion-dollar employee plot to manipulate the metrics.

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

Macy’s said an accounting employee hid as much as $154 million in delivery expenses over a three-year period, prompting the retailer to delay the release of third quarter earnings. The New York-based department store chain — which also owns Bloomingdale’s and Bluemercury — said in a news release Monday that a single employee was behind the false accounting entries,

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

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.