I suspect there will be mass retail store closures/indirect takeovers over the next two years. If you listen to the Q4 earnings call 10 min 20 seconds in when Dan is speaking he word for word says “we expect to realize 1 billion in run rate operating cost synergies by 2028-double our initial estimate. These savings will be derived from network integration, THIRD PARTY CONTRACT EFFICIENCIES, and go to market savings across marketing and advertising.” If you work at small retail store that is not considered an “A” store and you are within a 10-15 mile radius of another corp store you should be working on your backup plan now and trying to transfer to the A store in your area.
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Hans should have closed the stores ages ago. He didn't have the heart.
Agreed the more stores to third party the better. Dan is on the loose and he will do things tiger style.
They are barely above cashiers. They have minimal ability to actually upsell a customer who came in for a non sales transaction eg: billing questions, phone setup, account maintenance etc. they turn away anyone who is not a walk-in sale for them to simply ring up on their tablets. Can hardly even add on sales to the walk-in sales they get. Misrepresents welcome plans to customers all so they can slam them with the hotspot perk bc they have no idea how to actually sell the suite of perks and position the value proposition to the customer. If you asked a retail rep what a value proposition was they couldn’t even tell you.
@a8 Same here. Our entire family shifted over to T from VZ. It was actually cheaper. The funny thing was explaining it to my two junior high kids!!!!
The stores are what gave us a bad name. They are operated by low level con-men at the bidding of mid-level grifters. It is about time they clean house.
They should close some stores…way too many of them out there and the future of retail is moving towards online. I haven’t been to a wireless retail store in years…I get everything done online.
@bx they clarified in at the end when investors were asking questions it is from opex not
Capex.
Also please see the article posted on Verizon after the earnings call about halfway through the article it word for word states, “ The 2026 EPS target of up to 5% growth is also produced by the $5 billion cut in opex, while the revenue growth is all due to Frontier.”
Here is the url for the article:
https://seekingalpha.com/article/4864690-verizon-needs-more-than-stock-buyback
1B in savings is cash driven. Can be combo of capex and opex. I supposed a lot will come from capex.
All this store nonsense is not going to contribute much to that figure. Verizon did this type of commitment in late 2010s.
I am already changing my carrier to Tmobile. VZ is worthless