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.

Key Takeaways Macy's stock retreated Monday morning after the retailer said it would delay its third-quarter earnings report from the originally scheduled Tuesday release.An employee hid at least $132 million in accounting expenses over the last three years,

(Reuters) - 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.