The fortune article mentions that these new stores are cutting into profits yet only plan on cutting down new store openings by 8. Nice going!
Also these new stores do horrible business. And they expect a new customer base to flock there. Yeah right! Potential new shoppers are going to check it out and be turned off by high prices and the incredibly weird layout of these new stores.
Don't forget the 365 stores. As if we don't have enough competition, let's compete with ourselves.
We are hemmoraging money. Let's open as many stores as possible that should work, right?
the people running this are idiots!
They cut down the store openings to 30 from 38..a big loss % wise...thats like saying " we aren't gonna open 20% of stores in development..wall street is watching you mackey....
Oops, by "conference call" I meant town hall.
Yeah one of the bigwigs in the conference call the other day basically shrugged when asked about it. He pretty much said they know it's a problem but haven't really bothered to address it, and they hope it won't continue to be a problem in the future.