Quantcast
Jump to content

Flash Sale + Social Proof


Flash Sale + Social Proof


Flash Sale + Social Proof

Goodyear Closing 92 Stores: What Does it Mean to You?


Recommended Posts

I saw this story and it made cringe, it has implications for students, shops and the supply chain.

Also, as a former employee at a Goodyear store (franchise), it make me a little sad.

 

 

Goodyear Exits Underperforming Retail Locations

AKRON, Ohio, August 19, 2008 –In a move to improve the profitability of its U.S. retail operations,The Goodyear Tire & Rubber Company today said it plans to exit 92underperforming locations by the end of the year.

"Following a rigorous review of operating performance and local market dynamics, these
company-owned outlets are not producing acceptable returns," said ScottVogel, vice president, retail operations, North American Tire.

"Taking this action now willallow us to focus our attention on locations with the best long-termpotential," he said. "It will help position Goodyear to be a strongercompetitor."

Vogel said the company is notannouncing the store locations impacted due to its desire to firstcommunicate with their approximately 500 full-time and 100 part-timeassociates as well as property owners of leased facilities.

The action will result inafter-tax charges of approximately $30 million, of which $15 millionwill be recorded in the third quarter of 2008. In addition to thestrategic benefits associated with it, the action is expected toeliminate losses related to these locations of approximately $9 millionannually.

 

 So what does it mean to you?

Students: There will be a lot of ex-Goodyear technicians and tire busters looking for jobs.

Shops: Less competition? Maybe. But, there will be a lot of empty prime retail space looking for buyers or renters. It might be a chance to upgrade your location.

Equipment Manufacturers: Remember when Penske/Kmart closed their locations? There was a glut of used shop equipment on the market. While the number of closing Goodyear stores is not as great, it will still have  an impact on the market.

aggbug.aspx?PostID=477

View More
Link to comment
Share on other sites


Start LLC for $0 at IncFile


Start LLC for $0 at IncFile


Start LLC for $0 at IncFile

Create an account or sign in to comment

You need to be a member in order to leave a comment

Create an account

Sign up for a new account in our community. It's easy!

Register a new account

Sign in

Already have an account? Sign in here.

Sign In Now
  • Similar Topics

    • By Joe Marconi
      From what I am hearing from my fellow shop owner friends, the shops in my area, Northeast (New York), auto repair shops are busy and steady. However, there is a feeling from many shop owners to be cautious about the future. 
      Things that give shop owners concern: Inflation, the cost of living affecting the consumer's ability to afford auto repairs, dissatisfaction with the current administration,  and possible recession. 
      Your thoughts? 
    • By Joe Marconi
      Here is an excerpt from a report from Lang Marketing:  Read and enjoy! 
      Six Major Takeaways
      Lang Marketing expects that new car and light truck volume will remain in low gear from 2020 through 2023 compared to the previous four years (2016 through 2019).  Lower new vehicle annual volume will trigger five significant aftermarket changes that will boost the volume of aftermarket products from 2022 through 2030. By increasing used vehicle prices and shifting miles to older vehicles, lower new vehicle sales will boost aftermarket product volume through 2030. An increase in the average age of vehicles and more older vehicles on the road, both resulting from lower new vehicle sales, will provide a tailwind for aftermarket product growth. Although there will be fewer vehicles in the repair-age sweet-spot between 2026 and 2030, this will create a mileage shift to older vehicles and an increase in the upper age boundary of the repair-age sweet-spot, which will be positive for aftermarket product growth Lower new vehicle sales will slow the growth of Electric Vehicles on the road, increasing the use of ICE vehicles and pumping up their aftermarket product volume. Source: 
      Lang Marketing Resources, Automotive Aftermarket Consulting, Research and Analysis  
       
    • By Transmission Repair

      Premium Member Content 

      This content is hidden to guests, one of the benefits of a paid membership. Please login or register to view this content.

    • By Joe Marconi
      With all the different makes and models these days, and the complexity of modern vehicles, is it still possible to work on all makes and all models? To add to that, we now have to contend with electric cars. 
      Are we heading to more specialization? How do auto repair shops evolve their business model and their target customers? 
    • Advertise your services or products to passers-by attracting them towards your business
    • By Joe Marconi
      Most shop owners I speak to are having banner years. They are as busy as ever and booked with quality, profitable work. 
      With the uncertainty of the economy, will it last? Should shop owners prepare for a downturn? 


  • Our Sponsors


general heavy-duty 728x90


general heavy-duty 468x60


general heavy-duty 250x250

×
×
  • Create New...