As if hearing that the Ringling Bros. are shutting down wasn't sad enough, now The Anderson's are exiting the retail business. They really had their finger on the pulse of quality in the hard goods area. They carried most of the best items. Even though they phased out a lot of the building supplies, their hardware area was still really good. This is really depressing.
A week or so ago it was announced that The Limited is shutting down. Also, Sears is basically on life support. 2016 may start looking like the good old days.
I didn't think Menards, Lowes, and Home Depot could all survive the great recession. Very sad that the first casualty (of the four) is The Andersons. I wish they could have plotted a way to make it work, even if it meant dropping the grocery section and the furniture.
I had no idea they were struggling- just completed the ne w HQ building and the Maumee store was always jammed. Best produce in the area and it was a local company. Too bad.
(01-16-2017 12:03 AM)Toledo Football 1st Wrote: [ -> ]I didn't think Menards, Lowes, and Home Depot could all survive the great recession. Very sad that the first casualty (of the four) is The Andersons. I wish they could have plotted a way to make it work, even if it meant dropping the grocery section and the furniture.
The home repair stores survived because, instead of building new homes, people had to keep up the repairs on their home.
(01-16-2017 06:08 PM)MidnightBlueGold Wrote: [ -> ] (01-16-2017 12:03 AM)Toledo Football 1st Wrote: [ -> ]I didn't think Menards, Lowes, and Home Depot could all survive the great recession. Very sad that the first casualty (of the four) is The Andersons. I wish they could have plotted a way to make it work, even if it meant dropping the grocery section and the furniture.
The home repair stores survived because, instead of building new homes, people had to keep up the repairs on their home.
Maybe, maybe not. There's a lot of garbage in the market that was built in the last 15 years.
Andersons has great local produce but its expensive... no reason to go there unless I want boots. Too much merchandise in too many locations.
Think of the poor Blade (formerly known as the Toledo Blade). They spent many column inches and pictures on the annual cheese wheel cutting. Who is going to host the Christmas cheese wheel now? Maybe they can host it in their lobby.
(01-17-2017 01:29 PM)Rocket65 Wrote: [ -> ]Think of the poor Blade (formerly known as the Toledo Blade). They spent many column inches and pictures on the annual cheese wheel cutting. Who is going to host the Christmas cheese wheel now? Maybe they can host it in their lobby.
Couldn't use a wheel of cheese but a block would work since a block is the big cheese at the Blade.
Andersons sold several years ago.
Since 2008 the retail business has been in the red. Wasn't profitable for the company no matter how much it'd impact the community.
(01-17-2017 02:12 PM)rocketinchitown Wrote: [ -> ]Andersons sold several years ago.
Since 2008 the retail business has been in the red. Wasn't profitable for the company no matter how much it'd impact the community.
Is this a classic example of "Bigger isn't always better"? They are closing 4 stores, 2 in Columbus area and 2 in Toledo area. Recently closed a store in Lima area and the Marketplace in Sylvania. What if they went back to just the Maumee store and/or the Toledo store? Sometimes more and more will spread you too thin. You can't ever please everyone, so why not continue to get better at what you do best?
I completely agree.
Especially several stores in several markets. Stretches thin, especially logisitics and operations for a midsize company such as themselves.
I think the bigger complaint is that the family sold the business, now its run by a private equity firm. They just wanted dollars, they dont care how.
(01-17-2017 02:53 PM)letsgoblue Wrote: [ -> ] (01-17-2017 02:12 PM)rocketinchitown Wrote: [ -> ]Andersons sold several years ago.
Since 2008 the retail business has been in the red. Wasn't profitable for the company no matter how much it'd impact the community.
Is this a classic example of "Bigger isn't always better"? They are closing 4 stores, 2 in Columbus area and 2 in Toledo area. Recently closed a store in Lima area and the Marketplace in Sylvania. What if they went back to just the Maumee store and/or the Toledo store? Sometimes more and more will spread you too thin. You can't ever please everyone, so why not continue to get better at what you do best?
yea...strugglging with 5 billion in sales in 2016......must be tough to struggle like that with so little stores.
in the end, they got greedy and figured they could do more by closing the retail stores (instead of being bought out at the retail level and remain open) and leaving all other operations such as the grain area open.
anyone still think they're struggling?
go out on 23 south and look at that giant headquarters they just built.
Something to understand with many family owned businesses. Most follow a trend. The first generation starts and develops the business, the second generation continues to develop the business and expands it, while the third generation typically runs it awhile and then sells it.
(01-18-2017 12:48 AM)crusher38 Wrote: [ -> ]yea...strugglging with 5 billion in sales in 2016......must be tough to struggle like that with so little stores.
in the end, they got greedy and figured they could do more by closing the retail stores (instead of being bought out at the retail level and remain open) and leaving all other operations such as the grain area open.
anyone still think they're struggling?
go out on 23 south and look at that giant headquarters they just built.
The Andersons as a corporation is not struggling. The stores have not been financially sound for a long time. The stores were losing money, not making $5B like you stated. Making a proper business decision isn't being greedy. It's a business, not a charity.
(01-18-2017 07:51 AM)letsgoblue Wrote: [ -> ]Something to understand with many family owned businesses. Most follow a trend. The first generation starts and develops the business, the second generation continues to develop the business and expands it, while the third generation typically runs it awhile and then sells it.
But the family business here was started beyond just a general store. The business was founded as a grain trading and rail company, which remain the two most profitable unit. The other areas of the family business grew exponentially, while the stores did not. Yes, the Andersons is publicly-owned, but the family is still very involved in it.
The fact that the stores closed under a non-family member CEO does not surprise me.
(01-18-2017 10:04 AM)Rocket Pirate Wrote: [ -> ] (01-18-2017 07:51 AM)letsgoblue Wrote: [ -> ]Something to understand with many family owned businesses. Most follow a trend. The first generation starts and develops the business, the second generation continues to develop the business and expands it, while the third generation typically runs it awhile and then sells it.
But the family business here was started beyond just a general store. The business was founded as a grain trading and rail company, which remain the two most profitable unit. The other areas of the family business grew exponentially, while the stores did not. Yes, the Andersons is publicly-owned, but the family is still very involved in it.
The fact that the stores closed under a non-family member CEO does not surprise me.
Doesn't surprise me either. Brick and mortar retail is dying. Within 5 years there will be huge changes. A lot of the surviving brick and mortar
operations will be fulfillment centers.
(01-18-2017 12:48 AM)crusher38 Wrote: [ -> ]yea...strugglging with 5 billion in sales in 2016......must be tough to struggle like that with so little stores.
in the end, they got greedy and figured they could do more by closing the retail stores (instead of being bought out at the retail level and remain open) and leaving all other operations such as the grain area open.
anyone still think they're struggling?
go out on 23 south and look at that giant headquarters they just built.
When I said struggling I referred to the stores only. I mentioned the new HQ because it surprised me that the retail wasn't doing well when the rest of the company obviously is.