In the Charlotte Observer article today Belk declined to comment why they have shifted leadership around. A BIG RED FLAG!!!!!!
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Lisa Legacy took a profitable company and led it into bankruptcy let's be clear not because of COVID . I would like to list her Legacy accomplishment; Increase Private Brands from 20% to over 50% by taking all the quality and value to hit low price point doorbuster Strategy, Mortgage stores , negotiate a one time cash payment from credit card vendor , eliminate census at BSS and cut store payroll thru census reduction and reduce Hourly pay , increased senior , middle, and store management Turnover to over 250 % in 5 years ,and sales associates to 400% . Slow or no pay key vendors eliminating flow of merchandise to store .Lastly creating thru smoke and mirrors that she really cared about Belk , her communication skills constantly kept the company employees in the dark and led them down the road of koans and destruction . The bottom line is she lined the pockets of herself , Sycamore management and all the Sycamore investors . She should be applauded she liquidated a company that survived for +125 years in 5 years . BRAVO LISA .
It was odd that there was no leadership change when they first announced bankruptcy. I totally agree that Lizas new job is bullcr*p. But she’s a puppet for sycamore, so of course she’s still on payroll. Donnie. Now that’s a big shocker. No one likes him at corporate or store level. All he’s good at is eliminating jobs,
and coming up with absurd changes that have Belks looking like a thrift store.
First of all, it's not an article. It's a verbatim repost of the Belk pr release.
NO investigative or questioning journalism.
Secondly, very few sites even picked up the story. As if Belk is now yesterday's news and not worthy of mention.
Thirdly, the new job given Lisa sounds entirely like a made up position with zero responsibilities.
Never ever have heard of such a role in any business!
A nice cush spot to while away the years and collect a fat paycheck.
Lastly, any concentration on a core element of some stores over others will have dramatically negative consequences for the chain. One of the biggest nails in Belk's coffin was the "flagship strategy" . Disastrous consequences and a complete failure. The Belk boys bailed and sold out acknowledging this costly failure, on top of so many other ill advised, usually by "consultants", ventures.