Copy and pasted from the earnings call, leaving out all the even worse parts. Jeff casually mentioned that we will focus on digital and wants to get our store numbers under 400, even as low as 350, our current count is 447. Thats a lot of store closures...(We permanently closed 10 stores in Q one)
I agree with above, furloughed people aren't coming back.
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It’s a very clear message from Jeff but purposely buried deep in a verbose non-authentic email. Going forward - Fossil be a much smaller company. Saving initiatives taken during the Covid 19 crisis will stay intact. Rent reductions, salary reductions will continue, but with more reductions (ie: corporate staff). Personal opinion here - furloughed people will be no longer be with us. 4 - day people will continue with a salary reduction. I am confused how 3 - day people fit in the scenario. NWF 2.0 will leave a highly paid ELT that has failed and the rest of us get to do all the work for less money.
It’s funny. Now Jeff has Covid 19 to blame for the already suffering Fossil brand (Pre Covid) and a lack luster, lazy, self serving, highly paid ELT.
It was sent today. Its the writing on their wall.
I did not get an email either please give insight into what it said?
What email?