07:43 AM EST, 11/25/2024 (MT Newswires) -- Macy's (M) said in a preliminary statement on its fiscal Q3 results that a former employee attempted to hide about $132 million to $154 million in delivery expenses from fiscal Q4 2021 through the most recent quarter ended Nov. 2.

The company said there was no suggestion that "the erroneous accounting" impacted the company's vendor payments, but that it is delaying its earnings release and conference until as late as Dec. 11 to allow for an independent audit of the discrepancies.

The company also said preliminary revenue for the fiscal quarter ended Nov. 2 was $4.74 billion, down 2.4% from a year earlier.