Free Republic

Key Points Macy’s posted preliminary third-quarter results but delayed its full earnings report as it investigates up to $154 million in erroneously reported expenses. The company said it discovered the issue when it was preparing its earnings, adding the employee who hid the expenses no longer works at the company. The retailer said third-quarter sales fell, and expects to post full-year guidance by Dec. 11. ============================================================== Macy’s on Monday said it will delay its full earnings release as it investigates an accounting problem stemming from an employee who the company said intentionally hid up to $154 million in delivery expenses....