Can anyone explain, why exactly, the company has just spent nearly 4m dollars developing this “world class tech annex” to draw Silicon Valley gurus to Giant Eagle yet announce the closing of multiple corporate office buildings indefinitely?
Beyond the Coronavirus pandemic and the need to work remotely, I’m having a hard time grasping why they are closing buildings permanently. Even after this hell of a pandemic is over, the company has zero intentions of ever reopening several of the buildings in RIDC.
I’d also like to know why we are spending more money investing in GetGo than we are supermarkets? Yes, fuel margin can be extremely profitable, when done right, but 30 cents on the gallon hardly covers the GetGo “Chief Of Staff” salary. Seriously, this isn’t the flippin White House, so why in the world do we need a “chief of staff”?
And why do all the executives proclaim that we didn’t make any money during the coronavirus, stating that the cost of masks and sanitizer caused us to loose money. Excuse me? Record Top Line Sales, exceeding retail pretax profit, high EBITDA, beating budgeted TSR, etc., from Retail operations and they have the nerve to say we lost money? I bet if the auditing firm had a go at it, there would be MUCH different results announced! Just sayin’!
This company bleeds money at the top!