Macy’s says it’s delaying the release of its fiscal third-quarter earnings results after it discovered an up to $154 million accounting-related issue.

Macy's disclosed Monday that an employee had hidden up to $154 million in expenses through false accounting entries over more than three years.

Macy’s said an accounting employee hid as much as $154 million in delivery expenses over a three-year period, prompting the retailer to delay the release of third quarter earnings. The New York-based department store chain — which also owns Bloomingdale’s and Bluemercury — said in a news release Monday that a single employee was behind the false accounting entries,

Macy's announced Monday that it would delay its full third-quarter earnings report because of an employee hiding up to $154 million in expenses, sending its stock plummeting in early trading.

Macy's says it will push back its third-quarter earnings report after discovering an employee "intentionally" hid as much as $154 million in shipping expenses.

The Macy’s employee, who is no longer with the company, hid delivery expenses during the course of almost three years.