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Zappos restructures management
Zappos is reportedly instituting a radical overhaul of its management structure that will eliminate traditional managers and flatten the corporate hierarchy, even eliminating internal job titles. According to the Washington Post, this management structure is known as a “holacracy.”
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Hhgregg ‘disappointed’ with preliminary Q3 results
Hhgregg cited poor performance in the consumer electronics and wireless categories for preliminary third quarter results which came in below its expectations. Hhgregg now expects its full fiscal year performance to miss previously stated guidance.
For the third fiscal quarter of 2014, Hhgregg estimates net sales to be approximately $707.1 million, a decrease of approximately 11.6% as compared to net sales of $799.6 million reported for the third fiscal quarter of 2013.