Macy’s Says Employee Hid Up To $154 Million In Expenses

UNITED STATES – Macy’s is facing a major scandal – an employee intentionally hid up to $154 million in delivery expenses over several years.

The company uncovered the scheme during an independent investigation, saying the employee acted alone and is no longer with the company.

Macy’s has delayed its full earnings report set to release Thursday, to December 11th.

Shares took a hit, dropping 3% to $15.85, leaving investors wondering what’s next for the retail giant.