BOBE has opened the door for competition in Central Ohio
I see nothing good happening with this chain these days. It's sad. At one time, there was no other chain who could challenge BOBE's dominance. They were just too good. Their once loyal and talented staff of 60,000 employees and managers was unbeatable, too. Many of those people still work for BOBE, but the new leadership at the top has taken away the funding and the tools they need to do their jobs well.
I've posted a few messages questioning how BOBE could reach their earnings guidance of 108 to 112 million by generating nearly 50 million of it during this Q4. Again, if my math is wrong, let me know. Maybe by bringing in their 3rd CFO in 1 year's time will help.
My recent visits (last 6 months) to the restaurants in Central Ohio have demonstrated to me how they plan to hit their aggressive numbers. Cut back on everything! My visits have allowed me to experience short-staffing with long waits, cold food, and poor service from the over-burdened cook and wait staff. Food that was once delivered hot and fresh is now pre-cooked, cold, and dry. Even their namesake sausage!
In the 80's and 90's and most of the 00's, there was no competition in Central Ohio for this leader in the full-service family dining segment. Many tried to get a piece of the pie here, but Bob Evans was just too good. No one could compete with the quality and service levels that BOBE consistently delivered every day.
I visited a Frisch's this week. Never gave them a thought in year's past. And guess what? Hot food delivered quickly and by a friendly server who was very attentive. The quality was outstanding, and price was well below what you pay for a comparable meal in a Bob Evans these days. I've recently had the same great experiences at IHOP and Cracker Barrel, too. I don't get great, or even good experiences from Bob Evans any more.
If I was a competitor of Bob Evans, I'd start focusing on Central Ohio again. A vacuum is forming here while the new leadership tries to turn it into a mediocre YUM concept. If any chain out there can come in to Central Ohio, and do what Bob Evans used to do (High Quality and Outstanding Service), they will undoubtedly have success.
I don't own BOBE stock. If they in fact make their aggressive numbers I would think about it. But seeing them sacrifice their once-dominant standards in order to make up lost profits from shrinking sales and customer traffic, makes me think I should stay away.
Ok, I think I get it.. You went to a store and had a bad experience. I go to a store every Friday morning and am impressed every week. So what? I wish I could put more weight on random visits by individuals but I can't. Apparently mine are great and yours are brutal. Therefore you stay away from the stock..so be it. I have a very small % of BOBE in my portfolio, and I like the company. Whatever..
What a thoughtful and well-crafted response! Touché!, my good friend. It's obvious my simple intellect is no match for yours!
I don't usually post here, but as a long-time fan and former stockholder of this company, it truly saddens me to see BOBE moving in the direction it's headed these past few years. It may just be my own bad luck that every visit to BOBE I've had these past 6 months have been less than "stellar". I could be the only person this happens to.
I don't blame the long-term employees, or even the few long-term executives who have thus far survived what another poster refers to as the "YUM Infusion"
Maybe this new leadership's vision to move BOBE forward is just something that an "idiot" like me just can't yet comprehend.
All I can judge their success on will be their growth in sales, customer counts and profits.
Short term, I have no doubt their profits will increase as long as they keep cutting back on staffing, pay, benefits, food quality, etc. Long term, I just don't see how doing that will help them to increase Sales and Customer Counts.
If I’ve offended you because you or your loved ones work for BOBE, forgive me. There are many very good people working there. I’m rooting for them to again become the dominant force that they once were in the industry. I truly am. .