I haven't been able to find any media pertaining to the consolidation of space and closing stores. The last media release regarding this I've found via Google goes back to Q2 2019. Could you please share this information with us?
Vacating unprofitable stores is great, however easier said than done when your are locked into contracts that are years long. Landlords unwilling to renegotiate leases still have you locked into a contract, I don't see how vacating these stores would help in the near term. What happens in the near term for TRS is of critical importance, especially given the current retail climate.
Moving stock from site to site I think is TRS' biggest failure and unseen flaw. Taking into account the low margin nature of their business model, by the time you get stock from a warehouse, freight to the destination store, work the pallet, shelve the stock for customers, you have already eroded your margin - this obliviously cannot be avoided and applies to every retailer. Then to move that stock again to another store, only this time, removing from shelves, repacking in some way (bubble wrap for fragile items), consolidate stock into larger boxes, then onto pallets, paying again for freight and then back on shelves for display ... how much margin is actually left?
And yes, having visited many TRS stores throughout the country, excluding food and drink items, I'd say 60-75% comes from China.
TRS Price at posting:
$4.11 Sentiment: Sell Disclosure: Not Held
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