Now that the buyout isn't happening...has anyone heard more updates on when store closings will begin? Upper management is getting very silent again, as if something is in the works...Anyone heard anything?
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Buyout isn't over. They're negotiating behind the scenes. That's the way they do things. My brother does buyouts.
Huge visits early October. COO visiting stores.
I’m thinking they might wait until after holiday to squeeze the last bit of juice out of the semi-viable stores on the list before they shut them down. But on the other hand, that’s a lot of money and resources for new holiday collateral, hours for execution and selling (including fulfillment), freight processing, etc. It’s so irritating being on the list because you know you’re likely not going to get the support from the company that you need to function because you’ll close “soon”, but you have no concept of when “soon” will truly come…so you and your colleagues struggle to do even the most basic stuff like markdowns or have adequate coverage on the salesfloor on a daily basis until the bitter end.
Our team was on the Monday call with corporate and they announced that "Likely to Close" stores have sales plans that are way below the rest of the company, like 15% or more down for the fall season. Take a look at your fall sales plan and if your store is planned down more than 15%, you might want to consider options before the end of the year.
Still waiting on updates myself...haven't heard anything. Would be great if we could get actual time frames for each location! I'll stay through the end but it would be nice to know how long I have.
Soon. Don’t you worry.