The Hustle Daily Show How one Macy’s employee cost the company $151m
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Dec 13, 2024 A Macy’s employee's actions have led to a staggering $151 million loss over three years, shedding light on serious financial mismanagement. The investigation reveals deeper issues beyond mere theft, raising concerns about the retailer's stability. In a bid to recover, Macy’s plans to close 65 stores and improve operational efficiency. The discussion also humorously touches on the evolving retail landscape, as Macy’s adapts to the challenges from online shopping and seeks innovative solutions to enhance the in-store experience.
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Macy's $151M Mistake
- A Macy's employee hid $151 million in delivery expenses over three years, not for personal gain, but to cover up a mistake.
- This mistake snowballed, causing stress for the employee and impacting Macy's financially.
Macy's Closures
- Macy's is closing stores due to underperformance, aiming for increased sustainability.
- This is a common trend among chain businesses adapting to changing market conditions.
Chi-Chi's Downfall
- Chi-Chi's restaurant chain closed after a hepatitis A outbreak linked to contaminated green onions in their salsa.
- The son of the original founder is now attempting to revive the brand.