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One of the reasons cited in their bankruptcy is that they weren't able to keep yarn and hobby materials in stock, diminishing their utility as a one stop physic
by s1artibartfast 2y ago
One of the reasons cited in their bankruptcy is that they weren't able to keep yarn and hobby materials in stock, diminishing their utility as a one stop physical stock for hobbyists.
My wife was bummed when I told her about it, but I also recall going several times where they were stocked out of many items, so I kind of get it. Hard to justify a 30/60 minute trip if there is a good chance you wind up empty handeded
- jordanb 2y agoJoann was owned (and killed) by private equity. Going on a rampage against in-store inventory is a classic PE retail move. In-store inventory is expensive, subject to shrinkage, etc. So by the spreadsheet, less inventory looks good. But of course, if it's not in-stock when your customer shows up, that's a wasted trip. Only has to happen a few times before your customers quit showing up altogether.