Did Macy's put the brakes on ELSE rollout (no longer 600 doors in 2013?)
Did anyone else catch this on the conference call? Crossman is backing away from his previous guidance of "Another 300 doors in 2013" which he gave on the Q3 conference call, 10/15/12.
Here is what Crossman said on 10/15/12:
"The ELSE piece, we're continuing to see the pace of the business move in the direction that it's been moving, which is up and to the right in a very significant way. We're still looking at, right now we're in about 300 doors. And we're still looking at, over the course of the next 12 months, rolling out to another 300. So we are in that process right now. So we feel really good about it."
And here is what Crossman said today (2/21/13):
"I think for the rest of this year, we're going to be in that 300-door range. Ultimately, they do see it as an all door -- close to all door buy through their 600 doors. But for right now, in 2013, we're going to be in that same 300-or-so doors because this is really a learning process of, okay, what assortment mix, how deep can certain doors hold. So we're really kind of -- we know that we can get the 300, and now it's refining those 300, and then I would expect in 2014, we roll to additional doors. So there's a lot of growth in front of us just for this year 2013 without having to push down to further doors."
exactly - obviously the brand doesn't perform as well as Macy's and JOEZ would like to - the temporary halt of the rollout wasn't discussed on the conference call though. I wouldn't consider this a big issue though as this is very much outweighed by the strength in the core Joez business.