Everyday an established retailer is shutting it doors, Sears, etc.. after this rush how much longer can this company survive?
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If the way sales are down in my region is typical, not much longer.
Some stores remain profitable but many are on razor thin PBO already. Doesn't take much to start losing money.
Follett is following Sears footsteps, which is expected since Follett hired many Sears employees. I give it another 5 miserable, depressing, stressful, no raise years.
Are you saying all revenue to the family doesn't flow from the brilliance of the Ivory Tower?
Blasphemy!
A single platform for all of its varied retail markets. What could go wrong? It's been done successfully by McDonalds and Starbucks. If we're selling a $.99 menu, that's great news.
I'm already pining for 2017!
50 million for an ecommerce project, you have to be joking? They are betting the company on a single project? How could that be justified, do they understand our students? We are breaking our asses in the field cut after cut and they are blowing that money in the ivory tower.
The company that cannot pay its employees bonus is going to put $50 million for the ecommerce project. Good luck.
They've turned the Stanford store into a joke. Massive staff reduction, elimination of anyone with meaningful experience, a silly, cookie cutter website. If you're actually of the Stanford community, the bookstore is not part of your life. To be fair, the university turns a blind eye to the blight.
Better hope they don't lose ND or Stanford. Big chunk of sales there.
follett's model required new store acquisition. They dump payroll and operational costs into the new acquisition and relieve the stores of that burden. Without new acquisitions, higher paid employees will continue to be a target.
There will probably already be some number of schools that are too lazy or set in their ways to force a change, and Follett will come to rely on those to stay afloat. It will take time for this company to completely go away... If you were around for the first days of Amazon, we all thought the end would be in a few years, yet here we still are. But I wouldn't be shocked if we're down to under 50% of our current contract count 10 years from now.