Macy's profit and sales declined in the third quarter as the department store chain wrestled with cautious spending by customers, rising competition and sluggish demand for cold-weather goods. Macy's full quarterly financial report was delayed after it discovered late last month that an employee intentionally hid as much as $154

Macy's financial woes continue with the company reporting a notable dip in third-quarter profits and sales, reflecting a consumer trend toward prioritizing essentials like groceries over discretionary spending.