They are and from 2015 until 2019, they had lost $2 billion in revenue. I finally quit Giant Eagle back in September for a better paying job (I make more money now at my new job than the managers and department heads that had to work at that hellhole for 20+ years just to see that kind of money) , but we had some kind of meeting a month or two before I quit and that’s how we found out. Their annual revenue went from $8 billion to $6 billion and that’s bad. They already closed two stores this year-one in Cleveland’s eastern suburbs and one in Southern Ohio. They closed at least 20 stores and 1 warehouse since I started working with them in 2011 and if that’s not any clear indication of their money troubles, your in trouble. Another troubling issue is that Huntington bank pulled out of a ton of their stores too. Usually when they’re about to close any stores, Giant Eagle gives the banks the boot first before closing the store. I went through two store closures already and that’s how I know. They closed down the bank first, then the store-banks rent the space from Giant Eagle, so if they were closing, they’d have to give them 30 days which they didn’t the last two times I went through a store closing and they got into trouble.
They’re losing all of that money because of stupid people in corporate and stupid people running the stores. They got rid of a lot of products in stores they shouldn’t (mo–ns in corporate can’t segment and read forecasting data to see what sells and doesn’t sell at each location-they look at the data as a whole, so they pull it based on that data when there can be deviations in the data), they do stuff like keeping veggies and meats out almost past their prime and it looks so gross customers don’t want them, they let folks steal from their stores left and right, etc. This is why they are losing money, yet they always blame the non-management employees. Corporate isn’t as bright either. They went from 1,000 employees at one point and now they’re down to 300 people roughly and a lot of the people they laid off knew what they were doing. That left very few competent people in there. You could tell nobody at corporate knows what they’re doing either because of their decisions they make. This is why the company is on the highway to hell right now.