If you look at the quarterlies the revenues are up. Yes, some stores are probably bad. But, it doe not make sense to announce something drastic. everything looks fine. close 600 stores why. I think the CEO is clueless is imagining problems sort of like Bush in Iraq. Debt went down last quarter and cash up. I see nothing wrong with the fundamentals.
I think they need to fire the new management and put the old CEO back. The old CEO liked to buy shares back. RSH has been one of the fastest growing retailers over the last 2 years growing eps 30 percent. Why jeopardize it with a CEO whos solution is to imagine problems.
When I was a manager,under Roach or Roberts, the term "downsizing" was never heard.Moving a store was more the action taken. However,I do agree,that moving old inventory has always been a problem in a fast paced technology world and that trying to move old stuff out in faster selling stores could be helpful. I feel the worse is over,and for the Shack, this stock is too low the record shows,and I bought today.
You are correct. But the stores that they are closeing are in bad locations now, leases about up. You will see new store opening soon. Locations that were great 20 yrs. back are bad. Even Mall stores need to go to better and newer strips. In lots of aeras malls are out, up scale strips are in. Great time for RSH to re-align.