If I ever trusted the company's leadership to begin with, I definitely don't trust them anymore. I think that most will agree that they don't know what they are doing!?
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How many quarters in the red do you think it will take for HyVee to file for bankruptcy. They have avoided it so far by selling stores and properties and leasing them. That has saved Hyvee’s a-s so far. Soon enough HyVee won’t own anymore stores and lease them all. All of that extra money from the sale will be blown on more bad ideas. If I had anything over a million dollars in stocks I would quit to get that money away from them and into another account. Well you could ride the store out and watch your retirement get blown and never be able to retire. HyVee is gambling with all of your retirement money. I think we may have us another Enron on our hands.
Hy-Vee stock isn't publicly traded. The only way to dump stock is to quit and have the company buy it back from you. However, stockholders can choose to buy less stock, and I know some who have said they've stopped putting all their eggs in Hy-Vee's basket. (They have to do this quietly). The company isn't going bankrupt any time soon, but cost-savings will continue to come at the expense of employees, not stockholders. Remember, the people making these decisions have millions of dollars worth of stock, so they are going to do whatever they can to pump up that stock return. Layoffs, benefit cuts, department and store closings all will happen before the stock value takes a hit.
Same goes for anyone that has HyVee stocks. All of that will be useless if they file for bankruptcy. Did you know the reason why they created B stock is to pump up the cash flow for the company. If I was close enough to the top I would keep a close eye on anyone that is dumping company stocks. That will be your indication that HyVee will be filing for bankruptcy. Top dogs aren’t going to lose their money. If you have any money tied up in stocks I’d strongly suggest selling it even if you have to quit the company to be able to get your money out. Ask yourself is HyVee doing well or are they on the way out. Don’t have your retirement money go down with the ship because we all know the top brass won’t.
Speaking of trust if you have any money in debentures I would pull it out and find a high-yield savings at a bank instead. Read the fine print on the back of your certificates, they go down your money is gone.
Target customers ? HyVee target customer is upper middle class. They want customers that are willing to spend a few Extras dollars for the experience. To shop at HyVee. The extra money they are willing to part with is because HyVee used to offer way better service than any other grocery store in the Midwest. Clean stores, full staff, items stocked. Now it’s just over priced groceries with dirty stores, understaffed and out of stocks. Why pay extra with all of that is gone. HyVee has lost its customers base.
Who is the target customer, do you think?
Dude you nailed it about using buzzwords of the week. Corporate management doesn’t know how to right the ship. You can tell by just shooting out ideas out every where and wondering why they can hit their target customers. They need to focus and pick a directions.
Layoffs started pre-Covid. Covid temporarily saved Hy-Vee. Continuing to blame unprofitability on Covid three years later is just another excuse being floated by management who don't feel any guilt about lying right to your faces. What happened to being "nimble" or "agile" or whatever the buzzword of the week is?
Aldi, Jewel, Fareway are just a few examples of how to "navigate post-Covid economic shockwaves". Those stores are flourishing because of good business plans and competent ownership, unlike HyVee. No clear direction for HyVee, other than cut labor and run horrible, no money making ads. Their best course of action would be to sell. Future is very bleak. Glad I left after 23 years.
Except most grocery retail is not struggling nearly on the level that Hy-Vee is. The company was in big trouble just before Covid. They ran the high of the Covid sales. Now it’s back to business as normal, and what do you know, the same problems returned.
The company was struggling pre-Covid. Covid saved it. Did you forget the layoffs right before Covid. Get the facts right
You're right not to trust company leaders. They don't care about you, not even a teeny, tiny bit. The ones who did, who spoke up, have been pushed out or pushed to the side. Massive layoffs of long-term employees, leaving them with no health insurance during a pandemic. Over-hiring and then mass-firing of those new hires just a few weeks later. Now taking away employee discounts using fraud and abuse as an excuse, when every other company just deals with the abusers. I understand people staying because they have bills to pay and need a job, but I feel sorry for people who are so co-dependent that they turn a blind eye to how poorly managed Hy-Vee is. Over the course of 90 years, Hy-Vee faced lots of tough economic times. Never did previous management punish employees the way this management group does.
They are navigating post-Covid economic shockwaves that the company/industry has never seen. Covid tore apart the very structure of grocery retail. It changed how customers shopped, ate and communicated. Building it back right, and ready for the next series of seismic changes that are bound to occur, is something I don't think any of us could do without a lot of help.
The logic behind removing the employee discount is astounding. Do the people in the ivory tower in Des Moines even have a clue as to what volume of sales from the employees, and their families amount too?
They are equally ignorant to the fact, a large percentage of those sales dollars will now go to their competitors.
This company is he*l bent on sinking faster than the Titanic!
They're securing money for the Indy Race Weekend.