This is what happens to a good company that uses woke agendas and India outsourcing as there profit strategies. Stock down to $75 after terrible earnings and rumor has it that large round of layoffs right around the corner. Other large companies going down similar roads need to take notice…of course the execs who caused this have either already jumped ship or have announced they will be leaving at the end of this year. Great work ruining another American company.
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Earnings are right around the corner, maybe the worst is behind them.
Chris is that you?
Advance is a sinking ship. Those that work in the stores are better off going down the road to one of the better positioned competitors for a job. Most of the corporate business and IT jobs are now in India where they have no true understanding of AAP stores or their customers which is why it’s all falling apart recently. It’s easy to see now that CEO, CIO, CMO and Head of HR (with the help of McKinsey consultants) all came together from PepsiCo/Frito Lays to get the control they needed to make a bunch of money while driving the company into the ground. Then the group of execs responsible move on and leave the burning company behind as they go and sell the same generic formula at the next company they on move to where it will ultimately have the same negative effects.
So my VPO was apparently in a meeting yesterday discussing what actions they are gonna take, ahem, or when they need to jump ship? Anyone know anything about the meetings they are having? Everyone at the store level always finds out AFTER it's too late.
Not good when CFO can’t accurately post financial results.
Worst HR leader even left. IT is in disarray. Merchandising has no strategy
Compare LinkedIn homepages between “big 3” and you will see who is winning.
Could they possibly be building the stage for a buyout?
It is bad on the inside. Their drive to put all compute in the cloud is costing millions more monthly, than it does in their existing Roanoke data center, which they own... It also fails quite often also costing millions more in lost sales. They are pushing to get out of the Roanoke office completely by the end of 2024, but are not even out of the Carquest data center in Raleigh after 10 years... Inept is a mild term of the upper IT management here. Sri the CIO only wants the work done from India, and has outsourced all IT support to Tata Consultancy Services, TCS... Which again is worse support and costs more. Past IT management was cost aware, current only seems to want to feed his friends in India..
Name another Fortune 500 company that made major acquisition and then basically turns itself over to the company they just acquired (who was in terrible shape BTW)
The carquest purchase has been an unmitigated disaster since the beginning. AAP lost 80% (that’s generous) of the legacy AAP corporate staff when they moved to Raleigh. Basically you decided to let carquest figure out how to integrate AAP into carquest instead of the other way around
AAP executives (or their wives) couldn’t stand Roanoke or the small airport. So off to Raleigh they went, they figured the “talent pool” in Raleigh they could replace long time, loyal aap employees in Roanoke. Now you have ridiculous turnover in that “talent pool” and millions in a fancy new corporate office that no one goes into. A just a reminder, none of the vendors mind flying into Springfield to do business with O”Reilly!
They are a long way at from “our best part is our people”
Don’t even get me started on their constant pandering and DEI efforts, your customers don’t care!!!
So true about the inept IT strategy. This is what happens when you bring in a CTO from PepsiCo who has his 5 year plan to bankrupt your company and send all the IT jobs to India. No wonder the company is doing so bad.
That and inept IT strategy.
Yep, these geniuses don't understand it's impossible to compete on selection/availability, price, and service simultaneously (see Michael Porter's generic competitive strategies). They've had this company "stuck in the middle" for 10+ years and now the chickens are coming home to roost.
Play stupid games, get stupid prizes. Worst managed company in America. It’s over.
Agreed!