Very interesting, thanks!
The new CEO is certainly saying the right things, and the overall direction seems positive.
The part about inventory, supplier terms and cost-sharing with suppliers was an interesting insight into the supply chain that customers like me don't usually think about. We just complain that there's nothing in stock when we need it. Sounds like changes are in the works for that issue, which I hope is a good thing.
The admission that a top-heavy, and top-down management structure was a failure is a breath of fresh air in the corporate world today. More responsibility (and accountability) at the store level is probably a very good thing for customers.
Finally, and most importantly, they seem to "get it" that they need to focus on price and product line. Get away from the high-margin "lifestyle" crap and return to selling boat stuff.
Probably the only negative is the implicit admission that this is all very short-term. The comment about the private equity firm sometimes holding brands for as long as five years speaks volumes. Seems like it won't be long before we're back here discussing the "new" West Marine once again.
I wish them well. A good local chandler is always welcome.
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