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I hear that Randy Fry is visiting all of the stores....

frysanon101
68 days ago
I hear that Randy Fry is visiting all of the stores across the company. Any idea what is going on? I am hearing all sorts of rumors. For instance, I heard a rumor that he's evaluating each of the stores performance, determining which ones he wants to keep open, and which ones he wants to close.. I am also hearing rumors that the stores will be converted into warehouses (like Amazon). Of course, I am taking all of this news with a grain of salt, but I am curious about it. What are your thoughts?
Valve2000
66 days ago
I know he is traveling around, but the usually dumps his jet gas bill on the store he visits.
Valve2000
66 days ago
Probably just vacationing and dumping transportation costs to the store he visits. Smart man.
Charlie
56 days ago
He's relishing the final views he'll get of an empire he once controlled, before all his stores are closed and assets liquidated, thousands of investors, vendors, banks and employees screwed, and then jumps out of his jet and lands softly with a golden parachute....
rmcfee
19 days ago
This is a shame if it is true. I know our Webster TX store has bare shelves everywhere and no sales folks to speak of. Fry's Corporate how about a comment or confirmation of actions.
ironj01
19 days ago
Word around the campfire is their debating keeping the better California stores open or just close up shop. Even the corporate staff has had their salaries cut or have been directed to work at stores, if they haven't walked out. I hate for people to lose their jobs but the Fry's bros, should just cut the cord. They have no ambition to even fix their issues or they would have attempted to long ago when the writing was on the wall. The electronics business has passed them over, dinosaurs, more importantly business has passed them by. Never put a dime back into people or the stores, probably never even realized how too start doing that and they rather lose money and die than have an outside consultant come in...too late for that. Hogs get slaughtered my friend!
Former_Frys_geek
18 days ago
ironj01: Word around the campfire is their debating keeping the better California stores open or just close up shop. Even the corporate staff has had their salaries cut or have been directed to work at stores, if they haven't walked out. I hate for people to lose their jobs but the Fry's bros, should just cut the cord. They have no ambition to even fix their issues or they would have attempted to long ago when the writing was on the wall. The electronics business has passed them over, dinosaurs, more importantly business has passed them by. Never put a dime back into people or the stores, probably never even realized how too start doing that and they rather lose money and die than have an outside consultant come in...too late for that. Hogs get slaughtered my friend!
 
 
I was in Fountain Valley today and it looked like a liquidation sale without a sign out front. Honestly, it has been a slow motion liquidation for about 4-5 years now. Little by little top stock shelves disappeared. Then more racks and floor stacks. Now they would need to remove almost half the aisles to make the racks look very full. IDK how many if any of the stores Randy visited, but I can remember meeting Randy Fry when I worked at Fry's 12 years ago because one employee was trying to organize a union at the time. The ringleader was fired I remember. Technically, that was probably illegal, but IDK that anything happened with that. Generally if Randy Fry is coming to the store it probably isn't to thank you for your hard work. Maybe he might say that, but he's looking for a reason to fire people and cut costs. I wouldn't be surprised if Randy was making some hard choices in the near future. Closing the worst stores if not the whole chain seems like an inevitable move with the collapse of retail. At this point I think any changes to save Fry's might be too little too late. Far too many people gave up on Fry's. Maybe some of the stores that are in better competitive markets might be able to cling on for a few years, but I'm not sure anyone could save the chain.  
 
Most of the people that used to shop at Fry's are either dead or took their business elsewhere. The selection has gotten so bad at the Fountain Valley store I think Best Buy I think now has a better selection of computers and computer accessories now. It used to be that there was a good 2-3 times has many options as Best Buy and many better prices. At this point I think that I will go to Microcenter for any urgent computer related purchases because their prices and selection increasingly are better and Fry's return policies have basically become so limited that you almost can't return anything. I can remember 10+ years ago you could return almost anything except open software.  
 
I think it could be an interesting episode for CNBC's the Profit to see an attempt to save Fry's, but the amount of working capital that they would need to revamp the POS terminals, hire the right staff, buy the right inventory, and run an ad campaign to reintroduce a "new" Fry's to those that have a bad image of the store would be well into the tens of millions, which is way more than what Marcus Lemonis would be willing to front. Being from a big retail background I think he might be able to stave off bankruptcy through closing underperforming locations, smart investments and moxy, but I don't think it is the type of market that he would want to get into. In addition, I'm not sure Randy Fry would like to be made to look incompetent on TV because that's a big part of that show is making bad owners look incompetent. Fry's management really made a lot of shortsighted decisions that likely put the company in worse shape than it could be in. e.g. dragging their feet on taking Amex, dragging their feet on gift cards, dragging their feet on a modern POS system, dragging their feet on delivery, etc. I have to wonder whether not sponsoring an golf tournament might have freed up enough capital to have made investments in their chain that would have put them in a better place. We'll never know, but I will be surprised if multiple stores are closed by early 2020. It wouldn't shock me if the whole chain is closed in the next year or so. Ultimately it is sad, but I'm not surprised. Even in 2007-2008 I thought that they might go out of business in 10 years. They surpassed my cynicism then thanks to fixing a few criticisms of yore, but they look to be clinging for life.



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