What did RSH do to stop the bleeding since the new CEO showed up?
Almost nothing and he now claims things were worse than he expected. What have they done , not talked about? Updated 20 stores out of 5,000? That it besides borrowing more money and selling down inventory
Magnacca's in over his head. His tenure has been an utter embar#$%$ment. He's been couponing out the #$%$, and giving away margin, just because he thinks sucking people into the stores. To see how "wonderful" the "new" rsh is, will boost sales. He learned that was a horrible mistake, but he is STILL doing it. If that isn't the definition of delusion and desperation, i don't know what is.
I have seen no major cost cutting to date, just lower sales and lower margins. Talk but no results. all the stores are going to close in weeks, not 1,100. Lenders worse off closing only part of the Co.