I'm starting to doubt it...
11 replies (most recent on top)
The gvp of r41 has messed up this region since JS was regional. She will probably get promoted.
It closed at the end of February of beginning of March. I know of one more store in that region (Or what was formerly known as Region 41-The stores from that region are going to be divided into 3 other regions) that will be closing next month.
When did the Robert Morris bookstore in Chicago close? How many more will follow?
Still overloaded with managers who are still employed although they have no real function. This fish is rotten mostly in the middle. I'll stretch out my unemployment and then probably quit this stinker.
What did that 50mil investment in eCommerce get us aside from PayPal functionality? There is no way to tell from the website what's in stock locally or how long it might take to get it. Not to mention all the items we DO have in stock locally that are NOT on the website. Yet another missed opportunity.
Follet will not recover at full number or reduced number of brick and mortar stores. Online retailers have crushed the college BOOKstore. Colleges with name recognition will operate their branded soft goods on campus stores. No need for a lease operator.
Without a college football season to push merchandise sales, in the fall, it's going to be a long road back.
Picture what things may look like in a couple of weeks. Stores may be allowed to reopen, but they have to monitor foot traffic. No more the X people in the store at a time. Small stores will have to staff the front door to stay in compliance.
Cash wraps with plexi-glass barriers between customer and cashier maybe required. Is follett going to make that capital and labor investment?
County health departments may require new material handling guidelines. It may take head count to implement. Will follett hire to comply?
follett is c-appy, sick, compromised company. It may be time to let it go.
A lot of people who are laid off almost certainly will not be coming back. There simply just won't be the payroll for them. Sales are not going to recover from this.
What might hurt is all those rentals we won't be getting back. It would be a bad look if we started charging collection fees to all these college kids and their parents.
We are at the mercy of the campuses folks - they determine if the students come back to campus or not. It's not a Follett decision, It's the college administration that determines the destiny of all.
Just to clarify: I don't mean the company will go under, but I think it'll scale back significantly and most of us will be out of a job.