Archived FY2016

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Foot traffic wasn't expected to be strong, and while e-commerce segment did grow at double digits, it's still not enough to offset physical retail ops.

What really stood out was their stock repurchase, spending more than half a billion to buy back company shares with an average cost in the $70s was a terrible call considering the share price has now dropped to sub $60s. Even with all that outstanding shares being retired, their EPS still came in lower than expected. With forward guidance coming in weak as well, they'll need to work up a new strategy, or change management.
 
Lol they skipped over the stock info during our meeting, of course.

Thanks for posting
 
I think Cornell needs to go. No productive leadership. Only cares about shareholders. I understand it's his job to make the company money with his decisions, but it's also his job to create an environment and culture that allows for that profit to occur organically; not slashing everything to the point where we are barely treading water.

The email he sent out was very scary. With no real sense of productive change coming. He implied that we were going to work faster and harder with less resources. I don't understand how much less we could have to work with.
 
@Rock Lobster you seem very in tune with the company I would love your thoughts.

You have brought up that Cornell is a much more pragmatic CEO than Greg. I don't know what else he could have said today but it did seem very rah rah and forced. "We will win retail"

Really?
 
Our stock is at 52.00 a share. The good thing done by spot corp was that stores who were below sales didn't get penalize by reduce payroll hours.
 
mammoth said:
I think Cornell needs to go. No productive leadership. Only cares about shareholders. I understand it's his job to make the company money with his decisions, but it's also his job to create an environment and culture that allows for that profit to occur organically; not slashing everything to the point where we are barely treading water.

The email he sent out was very scary. With no real sense of productive change coming. He implied that we were going to work faster and harder with less resources. I don't understand how much less we could have to work with.
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This!!!

Walmart is still recovering from his leadership there. He's just a hack and slash CEO. Cuts costs across the board (minus upper executive company leadership) and doesn't contribute anything to the businesses he runs.

Shareholders think he does a great job because profits skyrocket right after he takes over, yet that's only because he cut costs to the bone. A year or two, the cost cuts hit the company like a fucking freight train, and he jumps ship with a golden parachute to another business. Rinse and repeat.
 
Hardlinesmaster said:
The good thing done by spot corp was that stores who were below sales didn't get penalize by reduce payroll hours.
Click to expand...
This is accurate. We played it tight with hours in February so when they announced that we weren't being affected by negative flex, we suddenly had 10 days or so to spend the roughly 500 hours it put back in our pockets. I was able to come in on my day off to wrap up reviews AND I was able to bring in my TMs enough to be able to have an entire day for cleaning and projects. All the other stores in my district weren't as lucky/smart with their hours and had to cut a bunch since the line between allocation and negative flex became a lot less skewed. My SO is POG at one of those other stores and was cut two whole shifts last week.
 
Hardlinesmaster said:
Our stock is at 52.00 a share. The good thing done by spot corp was that stores who were below sales didn't get penalize by reduce payroll hours.
Click to expand...
We are the only store making sales in our group? District? Either way... we're still handing out hours like scrooge and we are comping 3%. Where's the reward for not losing money? Doubt I'll see it in my raise.
 
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