What a dismal, pitiful and unacceptable excuse for a profit shortfall at the Canadian T-shirt icon GILDAN.
The headline reads GILDAN SALES TAKE A HIT FROM STOCKING PROBLEMS AT WALMART.
Clearly, there is a need for a management change at Gildan as there is a very simple and cost-effective solution that is ofttimes driven by Walmart themselves. It is, take control yourself and hire a company that details/audits or visits Walmart stores (pre-approved) if getting stock out is the real issue, they will do just that. And will do so cost-effectively.
Will it work? YES!!!!
Mr. Christie brands in the mid to late ’90’s had the greatest growth in Walmart for several years running doing just this. Our Key Account Manager (Rob) knew that spending time finding ways to encourage stock out onto the floor, even if he had to do it himself, or cleaning up the shelves, would pay significant dividends for the business and in turn his career. And it did through significant growth in both.
So Gildan, set aside the excuses, or give the real ones, you have grown too big to work in this world, or you are not doing well with online sales. But to blame Walmart is truly abhorrent, regardless if you like the retailer or not. It is not understanding their key principles.