4 ms·
What's your source? The link says sales, as does the referenced letter from the CEO. Edit: Their tweets further point towards 100% of sales, not net profit: ht
by pcl 10y ago
What's your source? The link says sales, as does the referenced letter from the CEO.
Edit: Their tweets further point towards 100% of sales, not net profit: https://twitter.com/themartincox/status/801097512622944256 https://twitter.com/themartincox/status/801097512622944256
But it does seem weird that they haven't come out and said "we mean 100% of the price our customers pay, not net profit."
- justin66 10y agoMentions "net sales" at the bottom under "1% For The Planet:" http://www.patagonia.com/blog/2016/11/100-percent-today-1-percent-every-day/ http://www.patagonia.com/blog/2016/11/100-percent-today-1-pe... I don't think they could handle the loss that would come from giving away a huge chunk of money equivalent to Black Friday's gross sales...
- pcl 10y agoPage 8 of their 2014 annual report defines "net revenue" thusly: "For purposes of this specific public benefit purpose, “net revenue” means Patagonia’s total sales of goods and services and revenues from other operations, less returns, discounts and allowances: [...]" Also, their announcement says: "100% of purchases made in Patagonia® stores and online at patagonia.com and patagoniaprovisions.com" My read is that "net sales" means pretty much "whatever was bought, less returns". [1] http://www.patagonia.com/on/demandware.static/Sites-patagonia-us-Site/Library-Sites-PatagoniaShared/en_US/PDF-US/bcorp_annual_report_2014.pdf http://www.patagonia.com/on/demandware.static/Sites-patagoni...
- justin66 10y agoI'm surprised by the discussion on this. In the absence of clearer information I will choose the interpretation that does not entail them taking an enormous, ruinous loss to their financial bottom line.