Even with a billion dollar cash infusion and pricing changes upward,the stock is still floundering around 30$... what happened guys?i know my store still in negative comps. How bout yours?
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Creeping lower today...
Excellent point, 2sfq. The executives have been lousy stewards of the brand. It's a steaming hot mess sitting out under a broken light on the buffet table due to poor planning and shoddy construction.
I agree with the original poster that a "takeunder" by someone who wants the brand name is the last hope WFM has (and even then many will lose their jobs due to massive store closures). However, I think even this is unlikely due to the fact that insanely idiotic WFM leadership seems to be doing everything possible to undermine the brand's (formerly) good name, e.g., weights/measures scandal, Mackey's BFF is a known sexual abuser, and ridiculous gaffes like asparagus water and peeled oranges to name a few. Aside from all those negatives, the wholepaycheck image is still firmly intact and WFM lost its cache and uniqueness at least 10 years ago anyway.
Who would want such a brand?
After the billion dollar borrowing binge (of which about $700 million was used to buy back stock) was completed, there were a whole bunch of cashouts. Now the stock is languishing again. It will go up and down but we know the big picture trend. It's a personality cult. Yes there is an underlying business but if this were a horse race and I had to pick long term winners in terms of 10-year sales growth, market leadership and profitability, this company would be near the bottom. The problem is that the board is in the pocket of management and management is inept. The top finishers in the horse race are: Publix, Wegman's, Trader Joe's/Aldi, Kroger, Sprouts, Amazon and Costco. Fresh Market has gone private and will see huge investments in infrastructure, marketing and logistics talent. Meanwhile the founders here are pushing 70 years old and the best they can hope for is a "takeunder" where someone maybe wants the brand name and the 100 or so top performing stores.
Store leaders jumping off the ship.... that's how bad it is....
NYC store negatives. TLs & ASTL's jump sit on their sh-- all day. Gossiping, camera spying all day long. Bunch of big months who think their know all that. sh-- this sh-- that. that all their know.