Steve and Barrys...are you drinking the Kool-Aid??

Joined: 25 Jun 2008 Posts: 26 Location: n/a

Any employees out there that would like to discuss current events surrounding S&B.THIS IS THE PLACE!!!! COMMUNICATION IS VITAL AMOUNG US AT THIS POINT!!! :
High-Level execs. are posting resumes all over the net. Read between the lines they are bailing what does that mean for us????? UPDATE:DECISION BY FRIDAY!! Any feedback from a customers point of view are also welcome( changes you've seen in the last 6 months)

Posted: Wed Jul 02, 2008 3:53 am Post subject:

20 registers at the front of the store and only 1 open, cashier running around the back of the store. A true LP nightmare! Someone could have walked out with a large quantity of merchandise and no one was at the front!

Set my stuff down and left. No sizes in the bins they were supposed to be and an over all sad appearance to what is a rather new store (less than 1 yr). Sad thing, they have decent clothes - my winter coat is from Steve and Barry's, for 9.98 you can't gripe.

To much focus on names - should have left Sarah Jessica Parker and Bitten out of the equation - imagine what they are PAYING her for them to be able to use her name when she could have very well taken her line to Macy's or Bloomingdales for 10x the price.

Sounds to me that if S&B weathers this hurricane they will be a much slimmer company. Steve and Barry's R.I.P., have they met Terry Lundgren? LOL

Joined: 25 Jun 2008 Posts: 26 Location: n/a

Our revenue is generated from mall operators dishing out one-time payments so units turned over at he front end has little to no impact. We are currently operating stores at under 20 hrs of labor per day and with most stores at over 120,000 sq ft thats obsured. Management (we at the DM level) are asked to be upbeat and encourage staff but at this point they know that we know its all lies so why further the misinformation. I apologize for your poor shopping experience there but I will say its from poor policies and directives from the Coportate office not a lack of effort from us in the feild. Anyone want specifics ( I know you're out there!!!) just ask you will get the truth and if I'm not sure I'll state that as well

Posted: Wed Jul 02, 2008 5:18 am Post subject:

It's such a shame. I liked S&B, I was a college student when I first discovered S&B, and it was great! I hate to see that S&B is going to go away. Even at the minimum, closing half your inventory of stores will not be easy to recover from.

I don't think our S&B opened with much fan-fare and it is in a rather poor location for the area - they opened in a former Home Depot away from the mall. That why The Home Depot moved, was to be closer to the mall.

I can see how when suddenly a new store is instantly infused with 3 million dollars that the bottom line looks good, but like I said, what did it cost them to use the name Sarah Jessica Parker and/or Sex and The City.

Joined: 25 Jun 2008 Posts: 26 Location: n/a

Front-ended contracts are how we deal with Celebs. which speaks of the nature of the celebs we deal with..SJP old news..Starbury bad rep major attitude problem as I wittnessed firsthand during his TOUR he has had in the past. . ..Big Ben..alcoholic with issues...Sere..oh I mean Venus (need I say more) although she is doing quite well at Wimbeldon and wearing our apparell at that!! Amanda Bynes..potential but in-between demographic appeal at this point in her career known as a child star on nick but is actually in her 20's. So there is potential but with a buisness model that bases revenue generation on opening new stores and not how well your product sells is flawed at its core.

Joined: 25 Jun 2008 Posts: 26 Location: n/a

Oh I forgott to mention Laird Hamilton well lets see my company has primarily East-Coast market penetration..warning signs were already out at the point in regards to the negotiations so lets introduce a SURFER whos name recognition is known to all those markets that we have established..POOR DECISION MAKING!!! I can give numerous examples.

Posted: Wed Jul 02, 2008 5:40 am Post subject:

Sounds like closings are on the verge. Hopefully they will survive bankruptcy, but prices are going to rise as a result. The question is when S&B has a price point similar to or just under Old Navy if they will be able to survive.

Joined: 25 Jun 2008 Posts: 26 Location: n/a

Thats, based on my knowledge of the situation, not conceivable because of the relationships we have had with our overseas vendors, in terms of paying them for one..two prices that they charged have increased..we have tried a 14.98 price-point in the past but when you can go to wall mart and get your groceries and clothing its not worh the trip to SB. When your profit per unit is 1-2 percent you dont have much flexibility. Being at 8.98 for so long works against us also as customers will be more turned off than ever to walk in and see 5 more dollars and no new product. A buyout from Wal-Mart or Sears is the only hope in my opinion.

Posted: Wed Jul 02, 2008 3:23 pm Post subject:

I don't see Wal-Mart even considering it. They tend to keep it to their own stores or concepts.

Sears is financially in trouble themselves right now. So much so that I am afraid that they wouldn't be in the position to even consider another takeover.

The only allure to either company would be in the real estate holdings of S&B, in which case the real estate may very well be worthless since S&B is usually paid to take the property so to avoid the blank spot in the mall/strip mall that S&B occupies.

Posted: Sun Jul 06, 2008 12:28 am Post subject:

Sorry to hear about S&B! Cheap priced clothes for our current economy but I feel sorry for anyone who has to work there!

Joined: 25 Jun 2008 Posts: 26 Location: n/a

SO how long ago did you work for SB whats your "story"

Posted: Sun Jul 06, 2008 3:26 am Post subject:

EX used to work for Macy's. I don't believe he ever worked at Steve and Barry's. He has since moved on to pursue ventures at an even classier department store chain.

Joined: 03 Jul 2008 Posts: 6

Still nothing from the fearless leaders Steve and Barry to the common folk. Seems like they should have at least addressed everyone personally by now/ Sad

Posted: Tue Jul 08, 2008 8:48 pm Post subject:

That involves telling the truth. Executives have to take a course in how to lie and deceive once they get past district management usually.

Posted: Wed Jul 09, 2008 2:39 am Post subject:

Posted: Wed Jul 09, 2008 7:02 pm Post subject:

Still no bankruptcy out of Steve and Barry's?

Joined: 03 Jul 2008 Posts: 6

Yes, in fact the press release is out today. They have already filed first day motions for chapter 11 to keep paying their staff. No confirmation of stores closing at all let alone a list of which ones are, but the press release states 172 corporate jobs are ending today. Maybe 11_WALLS_OF_BITTEN_WONDER can enlighten us on the more inside scoop??

Posted: Wed Jul 09, 2008 8:22 pm Post subject:

Yes, it is true. Another retailer has filed CHapter 11. Steve and Barry's announced it was filing Chapter 11 protection today and immediately began terminating staff and closing corporate offices. It is still rumored that Steve and Barry's will:

1. Begin Massive Liquidation of all outlets
2. Shutter outlets considered unprofitable & attempt to keep the chain alive
3. Find a buyer for the company who might be interested in it's real estate holdings.

Here is the link to the MSNBC announcement regarding Steve and Barry's....

http://www.msnbc.msn.com/id/25603764/

My prayers are with the associates who have devoted themselves to building Steve and Barry's into a decent company. May you survive the storm or attempt to find decent jobs with another company.

Mr. Bitten have you any news to enlighten us with? Store closings?

Posted: Fri Jul 11, 2008 5:05 pm Post subject:

NOOOOOOOOOO! Where am I going to get my Transformers' and beer T-shirts now? Surprised

Joined: 25 Jun 2008 Posts: 26 Location: n/a

I thought I saw some in your mothers bedroom last time I was there..smarta**

Moving on....yes we have no capital at all...GE is pushing us to liquidate and thats what will happen...with 2 weeks thousands of people will be without a job..please anyone still working with us start looking and take whatever you can get to support your familes..learn from this and dont take negative assumptions into your next job..it will only hurt you....I have more info but will let the intellegence level of the thread dictate whether or not I post it or not..prove me wrong people and speak with some thought behind it.

Joined: 25 Jun 2008 Posts: 26 Location: n/a

Class action..coming soon any news about that ????

Posted: Sat Jul 12, 2008 2:38 am Post subject:

[quote="11_WALLS_OF_BITTEN_WONDER"]I thought I saw some in your mothers bedroom last time I was there..smarta**

Damn, I told her to stop using them as a wall hanging! So 11 can you get me an autographed copy of Amanda Bynes? Thumbs Up

Posted: Sat Jul 12, 2008 3:28 am Post subject:

First off... Look at retail in general, outside of an inept CEO, Macy's could perform but look at the stock at Macy's, Dillard's, Saks, and the Bon Ton.

Dillard's $8.66
Saks $9.67
Bon Ton $4.92
Macy's $15.58

Stock prices at major retailers are at their all time low, and bankruptcies may be on the horizon for several more companies before all is said and done... Look at General Motors for instance..... .

My next question Mr. Wonder, (Sorry, I am shortening) is why anyone would pursue a class action status law suit against a company who has no assets.... From what I understand GE and another bank virtually own all of Steve and Barry's assets.

There would be very little or nothing for anyone to get. Even if the verdict was found in their favor.

Steve & Barry's may have met its maker at this point. Even with their low prices, $4 gas has hurt everybody, and certainly hasn't helped things at Steve and Barry's.

Posted: Sat Jul 12, 2008 3:35 am Post subject:

Steve and Barry's could potentially survive this storm, massive liquidation, emerging with much fewer stores and much fewer assets.... Prices would have to come up substantially and I don't think that they would win over the customer when their price point meets Old Navy.

What I like about Steve and Barry's is that they have Old Navy Quality for Excellent prices, but they won't meet the same standards when they have the same prices.

Even if they survive their 10 year survival rate would be less than 5% in my eyes. Their only asset is real estate - and it the real estate no one wanted to begin with. Looks like it's the end.

Joined: 25 Jun 2008 Posts: 26 Location: n/a

Thats what I like to see...informative, objective commentary backed by stats and clear thought....Yes you are correct friend...have you read the bankruptcy court filing...It appears that we were in such a "hurry" to liquidate that we didnt take the corrects steps dictated by law (forming a committe) and must wait until the 17th before we can begin liquidation...we can't seem to bail fast enough...in regards to the class action ....it is a priviately held company and we were misinformed on several occasions regarding status of the company..(understanding the level of disclosure a private company owes its employees) however there is still an ethical standard required by law for any employeer..im just not informed enough to know if that has been violated or not...help Confused

	Forum Index -> Misc' Retail	All times are GMT Goto page 1, 2 Next
Page 1 of 2