Macy’s announced Monday that a single employee was responsible for so many accounting irregularities that the company was forced to delay its quarterly earnings report, which the retailer had planned to release Tuesday.

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 M.N on Monday delayed its third-quarter results after finding that an employee hid as much as $154 million in expenses over years, instead issuing preliminary sales figures that fell short of Wall Street expectations.