Rush results, bonus gate and more
18 replies (most recent on top)
I am worried about that, look at their scorecard for August.
How about all the DG quotes and slogans. Guess we know who posted the here.
No one is worried about that.
Hope FSS doesn't drag down FHEG this year.
Results are very good. All new leadership initiatives are progressing nicely.
any other news from the town hall meeting?
I don't trust anything they say after last year.
Woohoo, I am hearing max bonus
I am still there - and likely not for long. Cook them books and do whatever it takes to pay out a bonus this year. Only ones that get hurt are the long term shareholders (they will also do ok for short term as the share price will go up).
Well said 39357
Its not that they sold the retail and whether it was old/obsolete. They may or may not have sold it for full retail and if it didn't have a self life it is of no consequence. It is the accounting practice that is in questionable, carrying costs could have legitimately been calculated into the cost of item bringing the profits down thus avoiding unnecessary taxes. Carrying costs are consider part of a company's cost of doing business. So the intent would indicate they want to overstate the numbers in their financial statements and trending calculations. The final numbers may be questionable in showing a true picture of the health of the company depending on the gross amount sold of these items to the percentage of total sales.
Cook the books? Bad accounting practices? Good leadership sells merchandise at full retail that is considered old/obsolete.
Just seems like a way to cook the books and make things seem better than they are.
Who is running the accounting department, that tactic would be only to make their bonuses. Do I need to state the obvious why all other accountants work toward practices in the other direction and would consider that quite foolish, that is I guess if they were thinking long term.
great margin, but it is just a blip. can't do that on a regular basis so it gives a false impression that sales are better than they really are.
If this is true, it is quite impressive. Every company would like these kinds of margins. This would be good leadership
All you need to know is that they sold a bunch of old inventory and took 100% of the sales price as profit, so the numbers are great and everything is fine. Now if they can only find a bunch of old inventory to sell every month....
We don't have this scheduled at FSS