Time to start cutting RVPs. Vinnie is the weakest link, start with him.
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The original plan (now 4 years old) was to reduce total store count to around 450 "showroom" stores. The problem with that plan is that lease negotiations are not going so well and top line sales loss has accelerated well beyond what was expected. In short, even the 450 total store number is probably a pipe dream.
Industry speculation is 200 to 500 will close by next fiscal year
You need to take into consideration the ability of the competition and the incompetence of Staples. There will definitely be more closings than Staples can even plan on.
45-50 additional stores will close in 2016 with about the same closing in 2017.
I honestly can not wait to see all the VPs that were promoted to their level of incompetence to be laid off as the number of closures increases.
Got rid of some DMs in Feb, got rid of some divisional SVPs last month, time to cut the RVPs. Start with that POS Vinnie Servello.
Vinnie would still screw it up. IMHO he has no idea how to run a store, much less a region.
Otis is to fat to fit behind a register , and he'd ask to go on break every 5 minutes.
1 store. Run to the ground by Vinnie as a demoted GM with Otis working the cash.
500-600. I still think that would be too many for what Staples has to offer the marketplace. At this point Staples should just be a mediocre .com business, if that.
0 .com only
Depends how this BTS goes, how many do not comp.
I think the bulk for the closures will occur after the new FY and then go into Spring, then another round after BTS.
555