I wanted to take a minute and write a note to say thank you for "a job well done." In looking back at our financial situation as it was several months ago, I can now fully appreciate and understand the expertise and sound advice that you gave to our company at a time most needed. I shudder to think of the additional loss of capital that might have occurred had we not listened to (or not been advised of) the things that you were recommending or pointing out, particularly the need for significant cost reductions and increase in inventory turn. We saved millions of dollars (annualized) by implementing those suggestions.
In my experience, I have yet to interact with an individual or a firm who can come into a situation, and so quickly make observations that are right on point. You asked a lot of questions, gathered a lot of data in a relatively short amount of time and made recommendations based on good, sound information. I appreciate the way that you and other members of your firm "rolled up their sleeves" and cranked out the numbers. We were able to see ”the big picture" based on the financial models that you ran. The interaction that Dena had with our buyers proved extremely beneficial as well.
While we still have obstacles ahead of us, we are in a much better position to overcome those obstacles as a result of the actions that were taken.
A quick update for you…we are hitting our sales numbers, expenses are below budget and inventory levels are significantly down! One area that we discussed that we still have work to do is store payroll.
Again, thank you for doing a great job. Keep up the good work!
Very truly yours,
Chief Operating Officer