I don't know why he resigned and I hope the company will quickly address the reason he left. Maybe this is good, perhaps it is not. But more disclosure is called for when a CEO abruptly leaves. No need to pry if it's personal but at least don't leave shareholders wondering.
Total sales and same store sales were down but many US retailers have also had similar results. Again, TLF's international results were very poor, down 16% compared to last January with same store sales down 30%. The CFO stated that part of the international results were hurt by fluctuation in foreign currency exchange rates, but SSS would still have been down 24%.
Despite many months of poor international results TLF opened another store in the UK last year. Strange IMHO, but maybe the management hopes to score big if the currencies ever go in the other direction!!
I expect management to keep doing the same thing for, well, forever, as long as they are there. If I were on the BOD I would give them 12 months to turn the ship or shop the company to a larger and hopefully better managed company. It's sad that this niche company isn't better watched over by the BOD.