This guy understands the FTD business well.
https://seekingalpha.com/article/4223217-ftd-companies-deserves-dead-cat-bounce
14 replies (most recent on top)
So they made a new department to handle florist, If you look at the internal postings there's a florist support group they are gonna get trained to handle ALL the departments questions and the rumors are true they are gonna axe membership/directory/member services. sorry guys but if you are a senior worker prepare that resume.
All the leaders are trying to pad their resumes at this point. The ship it sinking so you better set yourself up for your next gig.
this is all a joke. everthing they tell you is a lie, so the bad management and continue collecting a pay check. i have heard rumors from amazon buying our logo and etc....but whatever it is, this company did it to themselves. kind of sad, such a rich and old name that used to be pretigous. All the same management in place for the last 20 years, but instead they keep promoting the same people and getting rid of the good people. New Technology will not help this company, maybe getting more orders, and getting out of the drop shipping business and grocery stores which product us minimal margins at best. Hate to say it, but i don't see ftd climbing out of this hole. I still believe they will move people downtown after they downsize. There is no need for 2 building within 25 miles of each other.!!!!
Lovingly has taken the most customers from what I hear, Sales have been short for years now that's why we are in the hole, Levin is realizing his dream, membership and directory are getting the axe and the 1800 call center is getting outsourced if you don't believe me here's the cost saving planned announced back in october.
http://investor.ftdcompanies.com/news-releases/news-release-details/ftd-companies-inc-expands-corporate-restructuring-and-cost
Recap left out the part where 800 takes more customers. Sales fall far short. Levine never gets to realize his 16mm in additional savings. Stock gets delisted. Oh, and the new platform never gets finished.
So lets recap PC sale is still in limbo, Late and half assed platform and stock thats 2.15 per share thats the negative. The positive is that they are going to move FTD.com to the Philippines so that will save some money, It looks like HR is vamping up hire in tech from what i see in the careers page, and move everyone to downtown. Any one else heard other thing?
Would have been healthier to instead spend on Rush and other marketing channels until the debt was paid down.
Sears is actually a really good comparison even ignoring that so many upper management at FTD came from Sears.
Both companies dominated their industries, failed to adapt, and when they finally did act decided to build something extremely expensive and huge in scope, diverting resources from the real issue that they simply lost customers.
Dood, Sears had a slew of other issues. Not comparable.
It worked for Sears
Why such negativity? It's a step in the right direction.
Wait, so the new platform isn't going to solve all the company's problems? I am shocked, shocked I tell you.
or the half assed new platform coming
He seems to know a lot. But he doesn't seem to know about the PC deal.