they have been losing money in America since they the day they opened the first factory. It was a bad idea to try and manufacture cheap commodity type goods (shoes and towels and seasonal giftware) in the usa (a high cost manufacturing country)
so now they are doubling down on this money losing strategy and opening a second factory! I thought Trump tariffs would help this company but I was wrong. If she was concerned about increasing wages in China (as she said that she was) then they should have moved the factories to Vietnam or Bangladesh not to the USA to lower wage costs.
I think her chief concern now is with her legacy and supporting the design school in New York which she dontates money to and offers internships to. Having factories in the USA is more convenient for these types of interns but bad for shareholders who desire profits and dividends.
Sorry, that is how I see this and sold out as soon as they announced a second factory. I am willing to be proven wrong and buy back in so am monitoring the results.
News: MHI Merchant House International Sees FY ENDING 31 MARCH 2019 Loss Of A$1 Mln At This Stage, page-3
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