U.S. retail chain Macy's finds employee hiding millions in delivery expenses

NEW YORK, Nov. 25 (Xinhua) -- U.S. department store chain Macy's said on Monday that an employee had "intentionally" misstated and hidden up to 154 million U.S. dollars in delivery expenses over the past few years, forcing the retailer to delay a much-anticipated earnings report that Wall Street uses to gauge the strength of holiday shopping.

The retail giant rushed to release an abridged set of financial results, which were a mixed bag, with signs of weakness and pockets of strength, reported The New York Times about the development.