“New arrivals” items on Avenue selling for a 50% discount.
Either the list was never achievable and using a promotional strategy to simply sell at a normal (net of discounted) price, or there is a fundamental business model problem, starting with product range selection and volume targets at the planning stage.
Who is making these planning decisions at CCX head office?
Who is ultimately deciding to use our shareholder funds to continuously buy stock to sell at subsidised amounts to clothe USA and UK consumers at below market list prices?
Why are our funds being used to enrich third party manufacturers, compensate management and subsidise USA and UK consumers?
Is there anyone at Board level pausing to ask these fundamental questions of management?
The executive team got stock purchasing very, very wrong in 2021/2022, dug us into a huge hole that we are now in 2023 battling to get out of whilst the Board seemingly were passengers to the whole regrettable experience.
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