Shares fall as employee "hides" 1.5 billion

The revelation was made at the end of November and led to an investigation that has now been completed. No money has disappeared, but in the company's new forecast, Macy's operating margin is expected to be negatively affected by 79 million dollars, equivalent to 869 million kronor.

The company's profit forecast is simultaneously being revised down to the range of 2.25-2.50 dollars per share from 2.90 dollars per share in August.

As a consequence, the stock is now falling sharply in trading on the New York Stock Exchange and is down 8 percent. For the full year, the stock has fallen 17 percent so far.