AND THEY PASSED THE SAVINGS ON TO YOU: Macy’s found a single employee hid up to $154 million worth of expenses.

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.

The company recently discovered that the unnamed employee intentionally hid as much as $154 million in expenses over the course of nearly three years, prompting the retailer to conduct an independent forensic accounting investigation. The employee, whom Macy’s said is no longer with the company, “intentionally made erroneous accounting accrual entries” to hide small package delivery expenses.

Macy’s did not say why the employee hid the expenses.

I have a guess.