Ann: Market Update, page-11

They recently parted ways with their head of operations (Andrew McDonald) - quite why they wouldn't replace that person is beyond me. If money is tight, get rid of the underperforming marketing team (including the shoo-in on the Board) and spend money on delivering a decent service.

Looking at the most recent reviews across all stores, it can be summarised as follows:
- the stores are filthy dirty
- the quality of the food being served is extremely patchy (and that is being polite)
- the staff serving that food are badly trained, rude, miserable, an average of 12 years old
- their appears to be zero leadership on the floor

This is all due to a lack of direction in the basic operation of a food retail business.

The new CEO is still conspicuous by her absence. The new stores are a trainwreck both in terms of $s performance and all of the above points (other than not being filthy, but give them time to eff that up also).

As a long-term investor, there is absolutely nothing to be positive about. I can't see any direction from this Board - they are silent the whole time and refuse to come out and address all of the above issues with an action plan. The whole operational team need to go and some pros drafted in (from Maccas and the like) to kick some shape into this mess. An on-going disaster that is just getting worse by the day.