What’s going on with Harmon? How come they haven’t been affected? They have numerous DM’s for such a small footprint?
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You can’t say they aren’t the problem they are part of bed bath so they are. Too much realstate when u have sws. Get rid of the stores that are next to bed bath.
Whether Harmon is a problem or not, realistically the concept is just fodder. They can't be a stand alone store chain and when BBB finally goes chapter 11 and then out of business so does Harmon. They also only have what...about 50 stores (a few of which are in Florida and the west coast, I think even one in Las Vegas). No DM's for Harmon on the west coast so they spend money to fly DM's out to those locations. Not exactly ideal given the situation the company is in right now. Take the state of the company out of the equation and it still does not make sense and is far from logical.
I personally know a handful of Harmon store managers. Considering they have much smaller buildings they outpace ours most days by a long shot.
I believe they only have 2-3 DMs, so I can’t see them cutting when they clearly aren’t the problem.
Like I said that’s why I’m not sure they haven’t been touched they have numerous DM’s and a director with such a small foot print. Wonder if they are selling them off. No need for that much upper mgmt..
Whether or not Harmon is the most profitable concept in the BBB family is irrelevant when it comes to bankruptcy and the company as a whole folding. When BBB waves the white flag and goes out of business, so does Harmon. Just how profitable is Harmon anyway? There are many other places to buy what Harmon sells like Ulta, Target, Walgreens, Walmart, Amazon. Harmon cannot be a stand alone business.
2k, what you say makes sense in terms of not staffed properly, but same could be said of old tech dept. Worked in WM for a bit across from Harmons and was asked by SM to cover Harmons on their break while simultaneously being told by lead in WM to NEVER LEAVE THE DEPT. Adjacent to both was Tech with Fitbits in cases. One night when we had a rookie in WM, people marched into the store near the service desk and broke into the cases and made off with all the fitbits. I discovered this the next AM when I had a Fitbit hiding behind merch on my shelves. Classic blind spot. It was a big obscured distance between the phones and terminals and Tech. That said, lead in Harmons claimed it made money despite shrinkage. And there was frequently no one there if there was a calloff, but that was probably true of every dept.
Markups on haba are not huge in fact they are quite minimal. Bbby product has huge margins more than 50% why do you think we always had so much cash. The reason the Harmon inside bed bad shrunk so much is because the managers of bbby never staffed it like the free standing ones. You barely could find an associate in that’s section inside a bed bath. Free standing Harmon never had as much shrink as the ones inside bed bath. Side note is most of the Harmon stores were or are not profitable. They would only be profitable with the end of the year kick backs from vendors. With that being said having no product in stores I don’t see them surviving.
Harmons inside of the bigger BBBYs used to lead the stores in shrinkage monthly and quarterly, I remember that. More stuff was stolen from those areas and there were Walmart style monitors in blind spots. Problem is, as soon as you got a telephone call, the ENTIRE AREA became a blind spot. God knows what they are thinking if indeed they are seeing $10k walk out the door in a day in some stores.
It's probably the most profitable part of the company left. Everyone always needs health and beauty items and markups on them are huge!
It's probably one of the most profitable divisions of the business at this point. People are always going to need health and beauty items and the markups are usually huge