Macy's says employee hid up to $154 million in expenses, delays Q3 earnings

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The company added that the person behind the conduct is no longer an employee and that the investigation didn't identify involvement by any other worker. “At Macy’s Inc., we promote a culture of ethical conduct," Chairman and CEO Tony Spring said in a statement."While we work diligently to complete the investigation as soon as practicable and ensure this matter is handled appropriately, our colleagues across the company are focused on serving our customers and executing our strategy for a successful holiday season.”

Macy's Inc.'s comparable sales — sales from established physical and online channels — were down 2.4%, excluding licensed businesses like cosmetics. By division, Macy's comparable sales were down 3%, while Bloomingdale's comparable sales rose 1%. Bluemercury's comparable sales rose 3.3%,

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